The TON Foundation bets on a cross-chain future by connecting to Ozys’ Orbit Bridge: Guest Post by Toncoin

Orbit Bridge is a cross-chain platform developed by Ozys, one of the leading blockchain firms in the Republic of Korea. The bridge enables communication and connection across blockchains, positioning itself as the essential infrastructure for building a multi-chain ecosystem. Bridging $12.4 billion in assets, Orbit Bridge has not experienced a single hacking issue since its launch in November 2020. Security audits are conducted quarterly before the rollout of functional updates. This helps to prioritize the stability of the bridge whilst ensuring it remains secure.

Ozys and Orbit Bridge are continually researching and expanding their capabilities in EVM and non-EVM chains. This research has led to a desire to integrate with TON because of the potential for mass adoption of blockchain technology, made evident by the ongoing integration of the @wallet bot into the Telegram app.Currently, completed deploying TON layer 1 (vault), which works with consensus among 11 validators, and layer 2 (minter), which consists of 12 networkss. All tokens on the TON network can be converted to 12 networks, including Ethereum and BNB. TON tokens can be utilized in major protocols such as KLAYswap and Meshswap. Also token bridging to TON Layer 2 is possible for Polygon (MATIC, MESH), Ethereum (ETH, USDC, USDT, WBTC, etc.), and Klaytn-based assets (KLAY, KSP).The TON Foundation will also join the Orbit Bridge Validator group, a group that acts as the governance mechanism of the bridge, undertaking on-chain data verification. The entirety of the bridge’s on-chain data verification 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 amongst others in this group.

Justin Hyun, Head of Incubation at TON Foundation: “With the introduction of TON as the latest mainnet on the Orbit Bridge, a host of new users will be introduced to the TON ecosystem. By entering into closer proximity with other layer one blockchains through the connection enabled by Orbit Bridge, users will experience the advantages that TON holds over its competitors.”Ozys will also accelerate the AMM-DEX, Megaton Finance, they are developing on TON and are now aiming to release it in January next year. This will open another avenue for the decentralized trading of TON. It will also introduce the fast-growing world of TON to the wide range of users and projects found within Ozys’ multi-chain ecosystem.

Jinhan Choi, CEO of Ozys: “The Orbit Bridge is the first multi-chain bridge connected to TON, a blockchain which has the potential for almost infinite expansion. We will establish a cross-chain network between the large number of Telegram users that use the TON platform and other blockchains that are connected to the Orbit Bridge. This will help to scale the flow of users, promoting the mutual growth of the TON and Ozys ecosystems.”

This integration will be another step in introducing new financial features for TON holders and those seeking new opportunities in various blockchain ecosystems.

More about Ozys’ Orbit Bridge

https://bridge.orbitchain.io

The TON Foundation bets on a cross-chain future by connecting to Ozys’ Orbit Bridge

Toncoin

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