News

TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology

July 9, 2024 - Around 2 mins mins to read

Key Points:

  • The Open Network (TON) launched the TON Applications Chain (TAC) using Polygon’s technology to support Ethereum-based apps on Telegram.
  • TON blockchain Layer 2 aims to boost liquidity and DeFi adoption in the TON ecosystem, supporting gaming and identity solutions.
  • The launch coincides with a surge in Telegram crypto gaming and increased integration of TON within the platform.
According to CoinDesk, the team behind The Open Network (TON), a prominent blockchain integrated with the Telegram messaging platform, announced the launch of its own layer-2 network, the TON Applications Chain (TAC), at the Ethereum Community Conference (EthCC) in Brussels, Belgium.
TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology

TON Blockchain Layer 2 to Boost Liquidity and DeFi Adoption in the Ecosystem

TON blockchain Layer 2 will utilize Polygon’s Chain Development Kit (CDK) and AggLayer, technologies that enhance blockchain interoperability and enable the creation of customized layer-2 blockchains.

The new protocol aims to bring Ethereum Virtual Machine (EVM)-based decentralized applications to TON’s ecosystem and provide Ethereum developers with the tools to build applications for Telegram users. TAC is expected to boost liquidity and accelerate the adoption of decentralized finance (DeFi) within the TON ecosystem, while also supporting a wide range of applications including gaming and decentralized identity solutions.

Pavel Altukhov, founder of TAC, explained that the choice to build on Polygon’s ecosystem was driven by its EVM compatibility, available liquidity, deployment support, and expertise within Polygon’s EVM community.

Telegram’s Crypto Gaming Surge and TON Integration

The decision aligns TON blockchain Layer 2 with a growing trend of major blockchain companies developing their own layer-2 networks. Coinbase, for instance, launched its Base blockchain with Optimism’s OP Stack in August 2023, followed by similar initiatives from protocols like Celo, Worldcoin, and OKX.

The announcement of TAC coincides with a surge in Telegram gaming, particularly games incentivized by cryptocurrency. The recently launched. Hamster Kombat game has garnered over 200 million players, reflecting the popularity of the Tap to Earn model. Telegram has also increasingly integrated TON, using it to pay channel operators a share of ad revenue.

Michael Egorov, founder of Curve Finance, is among the key figures behind TAC. The Layer 2 development is part of a broader strategy to enhance TON’s capabilities and extend its reach within the blockchain and cryptocurrency community.

DISCLAIMER: The information. on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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NOT

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The Open Network

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TON Blockchain Layer 2

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology

Key Points:

  • The Open Network (TON) launched the TON Applications Chain (TAC) using Polygon’s technology to support Ethereum-based apps on Telegram.
  • TON blockchain Layer 2 aims to boost liquidity and DeFi adoption in the TON ecosystem, supporting gaming and identity solutions.
  • The launch coincides with a surge in Telegram crypto gaming and increased integration of TON within the platform.
According to CoinDesk, the team behind The Open Network (TON), a prominent blockchain integrated with the Telegram messaging platform, announced the launch of its own layer-2 network, the TON Applications Chain (TAC), at the Ethereum Community Conference (EthCC) in Brussels, Belgium.
TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology

TON Blockchain Layer 2 to Boost Liquidity and DeFi Adoption in the Ecosystem

TON blockchain Layer 2 will utilize Polygon’s Chain Development Kit (CDK) and AggLayer, technologies that enhance blockchain interoperability and enable the creation of customized layer-2 blockchains.

The new protocol aims to bring Ethereum Virtual Machine (EVM)-based decentralized applications to TON’s ecosystem and provide Ethereum developers with the tools to build applications for Telegram users. TAC is expected to boost liquidity and accelerate the adoption of decentralized finance (DeFi) within the TON ecosystem, while also supporting a wide range of applications including gaming and decentralized identity solutions.

Pavel Altukhov, founder of TAC, explained that the choice to build on Polygon’s ecosystem was driven by its EVM compatibility, available liquidity, deployment support, and expertise within Polygon’s EVM community.

Telegram’s Crypto Gaming Surge and TON Integration

The decision aligns TON blockchain Layer 2 with a growing trend of major blockchain companies developing their own layer-2 networks. Coinbase, for instance, launched its Base blockchain with Optimism’s OP Stack in August 2023, followed by similar initiatives from protocols like Celo, Worldcoin, and OKX.

The announcement of TAC coincides with a surge in Telegram gaming, particularly games incentivized by cryptocurrency. The recently launched. Hamster Kombat game has garnered over 200 million players, reflecting the popularity of the Tap to Earn model. Telegram has also increasingly integrated TON, using it to pay channel operators a share of ad revenue.

Michael Egorov, founder of Curve Finance, is among the key figures behind TAC. The Layer 2 development is part of a broader strategy to enhance TON’s capabilities and extend its reach within the blockchain and cryptocurrency community.

DISCLAIMER: The information. on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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