- The bridge would make it easy to conduct transactions between Ethereum and TON.
- Three notable blockchain security firms, CertiK, Quantstamp, and Hexens were engaged.
To enable the transfer of ERC-20 tokens from Ethereum to natively wrapped fungible tokens (Jettons) on TON, the TON Foundation, a non-profit organization of developers and enthusiasts behind The Open Network (TON), has announced the rollout of a two-way bridge.
Moreover, the press release claims that the bridge would provide an easy way to conduct transactions between Ethereum and TON. Moreover, TON ecosystem evolution has reached a “significant milestone” with this event.
More Bridge Tokens Expected
Introduced as “the first unlimited bridge,” the new service allows users to convert between Wrapped Bitcoin (wBTC), Tether tokens (USDt), USD Coin (USDC), and Dai (DAI).
Furthermore, the first release will only allow users to cross across four different assets. The TON Foundation plans to issue further bridge tokens in the near future. In 2022, the foundation hosted a hackathon inviting white hat hackers to evaluate unlimited bridge’s security.
Justin Hyun, Head of Incubation at TON Foundation, said:
“We are delighted with the introduction of this two-way bridge, the first unlimited bridge to go live on TON. We anticipate that this bridge will bring a host of new users to the TON ecosystem. By entering into closer proximity with other layer one blockchains through such bridges, our users will experience the advantages that TON holds over its competitors.”
The release went on to state that the bridge has been subjected to smart contract audits by three notable blockchain security firms: CertiK, Quantstamp, and Hexens. While validators deliberated on the formation, end-to-end audits of the TON blockchain were performed by CertiK and Quantstamp.
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