Overview

TON Teleport BTC is a significant innovation in the cryptocurrency domain, offering users a secure way to transfer BTC between the Bitcoin and TON networks without reliance on centralized issuers. Due to its decentralized nature and stringent security measures, the system ensures a high level of trust and convenience for users.

TON Teleport BTC allows users to input (peg-in) and output (peg-out) BTC into the TON blockchain via a mechanism that eliminates the need for trust in centralized intermediaries. In the peg-in process, users send their BTC to a specialized Bitcoin blockchain address connected to the TON Teleport BTC system. Following the confirmation of the transaction on the Bitcoin blockchain, a corresponding amount of tgBTC is issued on the TON blockchain. These tokens can be used in various decentralized applications within the TON network or converted back into original BTC. Conversely, the peg-out process involves users burning their tgBTC in the TON blockchain, which initiates the unlocking process and the return of their BTC.

Key advantages of TON Teleport BTC include:

The transaction management process in TON Teleport BTC is completely automated, taking place without centralized oracles or other intermediaries. TON network validators and smart contracts carry out all key operations from verification to transactions’ confirmation.

The peg-in operation is based on an SPV client, and the security of peg-out operations is guaranteed by the consensus of the TON blockchain. TON validators not only validate TON blockchain’s blocks, but also process withdrawal transactions, supporting the trustless character of the system. In TON Teleport BTC, users’ trust is based exclusively on verified blockchain mechanisms, eliminating the need for external intervention and affirming the system’s independence and reliability.

This operating model aligns with the declaration of trustless systems, empha- sizing autonomy, transparency, and the absence of centralized points of control or management. In TON Teleport BTC, every transaction step is backed by blockchain technology, ensuring participants’ security and the predictability of all processes. This approach not only improves existing practices but also lays the foundation for future innovations in the realm of cryptocurrencies and blockchain technologies.