LONDON, December 1, 2022 /PRNewswire/ – The TON Foundation today expressed confidence in the cross-chain future by announcing the connection of the TON (The Open Network) blockchain to Orbit Bridge Ozys.
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Orbit Bridge is a cross-chain platform developed by Ozys, one of the leading blockchain companies in the Republic of Korea. The bridge provides communication and connection between blockchains, positioning itself as a necessary infrastructure for building a multi-chain ecosystem. Orbit’s assets are approaching $12.3 billion and there have been no hacking issues since its launch in November 2020. Security audits are conducted quarterly before feature updates are released. This prioritizes the stability of the bridge while ensuring its safety.
Ozys and Orbit Bridge are constantly researching and developing compatible and non-compatible EVM circuits. This research has led to a desire to integrate TON given the potential for widespread adoption of the blockchain technology that TON represents. Demand for TON and its native token Toncoin has skyrocketed recently as its usefulness for simple payment solutions has become apparent with the continued integration of the @wallet bot into the Telegram app.
The TON Foundation will also join the Orbit Bridge Validator group, which acts as a bridge management mechanism, performing data validation on the network. All bridge data validation is performed by this group. The TON Foundation will join FS Labs, TEB, Cosmostation, Neoply, DSRV, M-block, Despread, Move Labs, B-harvest, and Ozys, among others, in this group.
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Ozys will also speed up DEX from AMM, Megaton Finance, which the company is developing on TON and due to be released later this year. This development will pave another way for decentralized Toncoin trading. It will also introduce the growing TON universe to a wide range of users and projects within the Ozys multi-channel ecosystem.
Jinhan Choi, CEO of Ozys, said: “Orbit Bridge is the first multi-chain bridge connected to TON, a blockchain with near-infinite expansion potential. We will create a multi-chain network between a large number of Telegram users who use the TON platform and other blockchains connected to the Orbit Bridge. This will help increase the flow of users, contributing to the mutual growth of the TON and Ozys ecosystems. »
Justin Hyun, head of incubation at the TON Foundation, added, “With the introduction of TON as the latest mainnet on Orbit Bridge, many new users will be introduced to the TON ecosystem. By getting closer to other Tier 1 blockchains through the connectivity made possible by the Orbit Bridge, users will be able to experience the advantages that TON has over its competitors. »
Notes to editors
About Open Network (TON)
Open Network (TON) is a third-generation proof-of-stake blockchain originally developed in 2018 by the Durov brothers, founders of Telegram Messenger. It was later handed over to the TON open community, which has maintained and developed it ever since.
TON was designed to provide ultra-fast transactions. It is very cheap, easy to use and fully scalable.
The TON Foundation is a non-profit group of supporters and participants who contribute to the development of the TON blockchain.
To learn more about TON, visit https://ton.org.
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