Today the TON Foundation, stewards of the TON blockchain (The Open Network), have expressed their faith in a cross-chain future through announcing the connection of TON to Ozys’ Orbit bridge. Created by one of the leading blockchain firms in the Republic of South Korea, the bridge enables communication and connection across blockchains, and has positioned itself as an essential piece of infrastructure for building a multi-chain ecosystem.
Notably the stability and the security of Orbit bridge is of the utmost importance to Ozys, and, as a result, security audits are conducted quarterly before the rollout of functional updates. The bridge has not experienced a single hacking issue since its launch in November 2020. This security appears even more impressive when considering the $12.3 billion in assets that Orbit now bridges.
The TON Foundation will also join the Orbit Bridge Validator group, a group that acts as the governance mechanism of the bridge by undertaking on-chain data verification. The TON Foundation joins FS Labs, TEB, Cosmostation, and Neoply amongst others in performing the entirety of the data validation .
Ozys and Orbit Bridge have been researching and expanding into both EVM and non-EVM chains since their inception. This in-depth research resulted in their desire to integrate with the TON blockchain. This research uncovered TON’s potential to supercharge the mass adoption of blockchain technology. It was a natural step, therefore, for Orbit Bridge to connect to the blockchain. Jinhan Choi, the CEO of Ozys lauded the potential of TON: “a blockchain which has the potential for almost infinite expansion.”
Telegram, one of the world’s largest secure messaging applications, certainly seems to think so too. Recently they announced the launch of a marketplace for rare handles based on TON. Telegram continuing to use TON as their blockchain of choice is an enticing prospect, and, this week Pavel Durov teased the possibility of building further on TON on his Telegram channel.
This announcement is coupled with TON’s development of a separate token bridge that connects the TON blockchain with Ethereum and Binance Smartchain. This bridge will join the Toncoin bridge and Orbit bridge as part of the TON ecosystem, and will enable the seamless transfer of ERC-20 or BEP-20 tokens to and from the TON blockchain.
Ozys and the TON Foundation’s excitement on announcing this news was palpable as Choi noted the Orbit Bridge’s position as “the first multi-chain bridge connected to TON”. According to Justin Hyun, the head of incubation at the TON Foundation, “a host of new users will be introduced to the TON ecosystem” thanks to its connection to the Orbit Bridge. If this prediction comes to pass, TON looks set to continue the growth it has experience in 2022 into 2023 and beyond.
About The Open Network (TON)
The Open Network is a third-generation proof-of-stake blockchain initially designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since.
TON was designed for lightning-fast transactions. It’s ultra-cheap, user-friendly, and fully scalable.
The TON Foundation is a non-commercial group of supporters and contributors who help further grow the TON blockchain.
Learn more about TON: https://ton.org