Blockchain Project TON has announced the launch of its Ethereum Bridge, providing users with the ability to move assets between the TON blockchain and Ethereum. This move aims to expand TON’s functionality, allowing users to access and trade assets across both blockchains. The Ethereum Bridge will enable transactions with lower fees and faster processing times, giving users a seamless experience while accessing and transferring assets. With this development, the TON community can now benefit from the decentralized finance (DeFi) ecosystem on Ethereum, expanding their options for investments and decentralized exchange (DEX) platforms.
The TON Foundation has made a significant announcement on the roll-out of a two-way bridge that allows the seamless transfer of ERC-20 tokens from Ethereum to natively wrapped fungible tokens (Jettons) on TON. The non-profit association of developers and enthusiasts behind The Open Network (TON) aims to offer a seamless transactional interface between Ethereum and TON through the new offering dubbed “the first unlimited bridge.” The bridge will enable users to bridge Wrapped Bitcoin (wBTC), Tether tokens (USDt), USD Coin (USDC), and Dai (DAI) at launch, with the TON Foundation planning to include more tokens soon.
The unlimited bridge was audited by CertiK, Quantstamp, and Hexens, while validators voted on the formation of the TON blockchain. The TON Foundation has also welcomed white hat hackers to test the security integrity of the bridge through a hackathon in 2022. According to Justin Hyun, Head of Incubation at TON Foundation, the introduction of the two-way bridge is a significant milestone in the TON ecosystem that brings new users closer to the advantages that TON holds over its competitors.
The development comes less than a month after Telegram added a new feature that enables users to send each other Tether on the Tron blockchain. The feature has expanded the app’s capacity for crypto payments, allowing users to buy, swap, and make P2P trades with TRC20. This also means that users on the instant messaging service can directly send USDT to their peers with no transaction fees.
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Title 1: TON Foundation Introduces Unlimited Bridge to Seamlessly Transfer ERC-20 Tokens to Jettons
Title 2: TON Foundation’s Two-Way Bridge: A Significant Milestone in the Evolution of TON Ecosystem