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TON partners with Axelar to link 68 blockchains in Web3 ecosystem

Axelar’s Interchain Amplifier and Mobius Development Stack can bring blockchain interoperability to TON’s ecosystem.

The Open Network Foundation has selected Axelar’s Mobius Development Stack (MDS) as its primary platform to connect The Open Network (TON) ecosystem with 68 blockchain networks.

The integration is expected to enhance the scalability and usability of decentralized applications within the TON blockchain ecosystem, while also improving connectivity across Web3 platforms.

Anthony Tsivarev, director of ecosystem development at TON Foundation, said in a press release that Axelar is “an ideal choice” due to its “open, developer-friendly stack.”

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USDT on TON chain surpasses $1 billion: Token Terminal

Tether’s stablecoin continues to dominate rivals, including Circe’s U.S. Dollar Coin (USDC).

Tether’s stablecoin, USDT, has surpassed $1 billion in circulating supply on The Open Network (TON), according to data from Token Terminal, a crypto researcher. 

The uptake underscores USDT’s dominance among United States Dollar-backed stablecoins and TON chain’s rising popularity despite setbacks to Telegram, the social media platform that created TON chain in 2018. Telegram’s CEO, Pavel Durov, was arrested in August.

Tether’s USDT is the stablecoin of choice on many Telegram Mini Apps, which are applications that operate on Telegram’s messaging platform and settle on TON chain. 

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TON Foundation to Launch Bitcoin Bridge on The Open Network

TON Foundation to Launch Bitcoin Bridge on The Open NetworkThe TON Foundation has announced the upcoming launch of TON Teleport BTC, a bridge designed to facilitate trustless and secure transfers of bitcoin to and from The Open Network (TON). This initiative aims to expand bitcoin’s utility by enabling its use in decentralized finance (defi) activities on the TON platform. TON Foundation Announces Bitcoin Bridge […]

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TON Foundation Announces Plans to Widen Access to USDT on Ton

TON Foundation Announces Plans to Widen Access to USDT on TonThe TON Foundation has announced a partnership with Tether to broaden the access of global crypto communities to USDT on the TON blockchain. The foundation has outlined plans to integrate TON-based USDT into at least a hundred exchanges and payment processors in both established and emerging markets in the coming months. TON Foundation and Tether […]

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KuCoin pledges $20K grant to TON Foundation for ecosystem development

The funding will support TON ecosystem projects, research and development efforts, community-building and marketing activities.

KuCoin Ventures, the venture arm of Seychelles-registered crypto exchange KuCoin, will provide grants to The Open Network (TON) blockchain platform, including an initial $20,000, to support the growth and expansion of the TON ecosystem.

According to a Dec.

Ian Wittkopp, accelerator head at TON Foundation, said the grants from KuCoin aid them in continuing to support real-world blockchain solutions in payments and gaming within its ecosystem.

“Today’s partnership with KuCoin Ventures is an acceleration point in the momentum of mini-app development on the The Open Network… KuCoin Ventures’ efforts align with TON’s vision of a more accessible and decentralized digital future for everyone.”

Alicia Kao, managing director of KuCoin, attributed the move to the company’s belief in TON’s potential in the blockchain industry.

“This strategic alliance aligns with our mission of promoting further development of the crypto and blockchain industry through tighter cooperation.”

“We believe this signifies a fresh synergy between exchanges and the blockchain landscape, and we aspire that this joint effort will serve as a motivating example, spurring further similar ventures,” she added.

A KuCoin spokesperson told Cointelegraph that the partnership is in its first phase.

This partnership is just the beginning. We plan to leverage this collaboration for deeper cooperation and communication… We are making all the necessary preparations for this… collaboration.”

Besides supporting the expansion of the TON ecosystem, KuCoin seeks to replicate its success with other blockchain collaborations “to facilitate the transition of cryptocurrency from a niche interest to mass adoption.”

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TON blockchain launches on-chain encrypted messaging feature

The network previously allowed users to post on-chain messages but only in an unencrypted, completely public way.

The Open Network (TON) has released an on-chain encrypted messaging feature, according to a July 3 announcement from the network’s developer, TON Foundation. The new feature allows for private messages to be sent between TON users. 

TON is a blockchain network forked from code created by the Telegram instant messaging app team. Telegram abandoned the project in July 2020, before a mainnet was ever launched. However, it open-sourced TON’s code before leaving, allowing others to continue building upon the work it had done.

The current network, called “TON,” was built by the TON Foundation. The foundation claims that the network provides greater scalability and transaction throughput than other options in the Web3 ecosystem while also remaining decentralized.

TON has always allowed users to send messages in transactions. But in the past, these messages were completely public. The new feature allows users to encrypt these messages end to end, making them readable only by the intended recipient.

TON core developer Anatoly Makosov claimed the feature was created to allow for the “personalization” of transactions:

“When sending Toncoin, Jettons, or NFTs on TON you have always been able to include a text for the recipient such as ‘for coffee’ or ‘happy birthday’, thereby personalising the interaction. Now this popular feature [...] is available with full encryption.”

Makosov added that it also would be useful if an “apocalypse” occurs that causes traditional messenger servers to fail. In this case, TON can serve as a “reliable” and “safeguarded” method to communicate privately.

Encrypted messages are currently available using several retail wallet apps, including MyTonWallet, OpenMask and TON Wallet. The feature will also be added to mobile wallet Tonkeeper “in upcoming updates,” the announcement stated.

In May, the TON Foundation launched a $25 million accelerator program to encourage app developers to build on the network. In November, an independent development team created a Telegram trading bot to onboard users to TON.

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Telegram Users Can Send and Receive Toncoin Within Messenger Chats

Telegram Users Can Send and Receive Toncoin Within Messenger ChatsTelegram users can now send and receive toncoin directly within the application’s chats, according to a tweet by The Open Network (TON) Foundation. In addition to the toncoin support, users can also purchase bitcoin via the software’s bot system. TON Foundation Reveals Telegram Toncoin Support, Users Can Purchase Bitcoin via Bot The ability to send […]

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