The Open Network （TON） Foundation introduces a secure Bitcoin bridge, focusing on trustless architecture to prevent private key compromises and enhance interoperability.
Points
- TON Foundation launches Bitcoin bridge.
- Focus on trustless architecture for security.
- Integration with decentralized applications （DApps）.
- Measures to prevent private key compromises.
The Open Network （TON） Foundation has introduced its Bitcoin （BTC） bridge, dubbed TON Teleport BTC, which aims to integrate Bitcoin into the TON ecosystem for use in decentralized applications （DApps）, lending platforms, and other network purposes. Launched on July 18, the bridge aligns with TON’s long-term vision of becoming a “blockchain of blockchains,” integrating top Web3 services into one cohesive network.
Blockchain bridges enable users to transfer tokens or data between different networks, addressing the need for interoperability among blockchains. However, these bridges have been susceptible to security incidents, resulting in significant fund losses. One notable example is the 2022 Ronin Bridge hack, which led to over $600 million in lost funds.
To counter these vulnerabilities, TON employs a trustless architecture to secure funds during Bitcoin transfers. According to Jack Booth, TON
Foundation’s marketing director, TON Teleport BTC uses a trustless architecture, leveraging a Simplified Payment Verification Client （SPVC） implemented as a smart contract on the TON platform. This setup verifies Bitcoin block states directly on the TON blockchain, ensuring that all key operations, including transaction verification, confirmation, and token issuance, are carried out automatically and transparently.
Booth emphasized that this trustless architecture records all activities on the TON blockchain as soon as they are confirmed, which helps prevent private key compromises. The use of SPVC means that Bitcoin block states are verified without the need for a trusted third party, significantly enhancing the security of cross-chain transactions.
The introduction of TON Teleport BTC marks a significant step in achieving TON’s vision of seamless blockchain interoperability. By enabling Bitcoin to be used within the TON ecosystem, the bridge opens up new possibilities for decentralized finance （DeFi） applications and other blockchain-based services.
解説
- Trustless Architecture: A trustless architecture eliminates the need for intermediaries in verifying transactions, enhancing security and reducing the risk of fraud. This approach is crucial for maintaining the integrity of cross-chain transactions.
- Simplified Payment Verification Client （SPVC）: SPVC is a method that allows lightweight clients to verify transactions without downloading the entire blockchain. This technology is essential for ensuring the security and efficiency of blockchain bridges.
- Blockchain Interoperability: The ability to transfer assets and data across different blockchains is vital for the growth of the blockchain ecosystem. Bridges like TON Teleport BTC facilitate interoperability, enabling more complex and integrated decentralized applications.
- Security Measures: The focus on preventing private key compromises highlights the importance of robust security measures in blockchain technology. By recording all activities on the blockchain and using SPVC, TON enhances the overall security and trustworthiness of its platform.