TON Foundation to launch TON Teleport to connect Bitcoin and TON ecosystem

BlockBeats news, on July 18, the TON Foundation announced the launch of the ecological infrastructure project TON Teleport, which allows users to transfer ("peg in" and "peg out") BTC between the Bitcoin blockchain and TON without relying on central institutions. A trustless system will be used to improve security and autonomy, ensuring that transactions are transparent and not subject to external control.

The TON Teleport BTC process is trustless and transparent, and can be operated without a centralized issuer. Every BTC on TON will be 100% backed by actual BTC and pegged through a transfer process to ensure that transactions are safe and reliable.

The system automates all operations from verification to confirmation through network validators and smart contracts, eliminating the possibility of human error, censorship or fraud. TON Teleport BTC will significantly promote the DeFi field within the TON blockchain by allowing new Bitcoin-based financial mechanisms and products such as DEX, lending platforms, and advanced wallet services.