TON Teleport BTC Launches Trustless Bridge for Secure Bitcoin Transfers to TON Blockchain

TON Teleport BTC Launches Trustless Bridge for Secure Bitcoin Transfers to TON Blockchain

On July 17, TON Teleport BTC, a trustless bridge facilitating secure bitcoin (BTC) transfers to and from The Open Network (TON) blockchain, was officially launched. This development allows BTC holders to securely engage in decentralized finance (DeFi) on TON and participate in decentralized exchanges (DEXs), lending platforms, and other applications.

The TON Foundation team stated, “Each BTC on TON is 100% backed by actual BTC, pegged through the teleport process, ensuring secure and reliable transactions. The process is entirely trustless and transparent, operating without a centralized issuer.”

In another exciting development, IoTeX, an Ethereum compatible blockchain platform optimized for decentralized physical infrastructure projects (DePIN), announced the launch of its 2.0 platform. By partnering with NEAR, Filecoin, RISC Zero, Espresso, and more, IoTeX aims to democratize access to DePIN and enhance data availability, storage, computation, and sequencing.

The new IoTeX 2.0 platform features DePIN Infrastructure Modules (DIMs) and Modularity Security Pool (MSP) to reduce development costs and support sustainable growth for DePIN projects. This positions IoTeX as the largest decentralized hub for devices and data that will be deployed by both humans and AI agents.

The introduction of Modularity Security Pool (MSP) enables DePIN layer-1s to restake their Proof-of-Stake security to DIMs, fueling growth and fostering sustainability within the ecosystem.

Overall, these developments in the blockchain space are set to revolutionize the way BTC holders interact with the TON blockchain and streamline the development process for decentralized physical infrastructure projects.