The Open Network (TON) team announced the emergence of a bridge between the Bitcoin blockchain and TON, with which it will be possible to trade BTC within the TON blockchain infrastructure, using DEX exchanges STONFI, STORM and others. Because The Bitcoin and TON blockchains are not compatible, so it will not be possible to trade BTC directly; instead of BTC there will be a token (Jetton) or a token called JBTC, similar to what happened with USDT (What is jUSDT) until the Tether company officially released its stablecoin on the TON network.
The appearance of the official jetton on BTC, which will be tied 1:1 to real Bitcoin, is an important step towards the further development of DEFI services in the TON system, which will attract many more conservative investors who prefer to store their savings in BTC and occasionally invest in other popular cryptocurrencies without resorting to centralized exchanges for exchanging assets. Not to mention traders who are always interested in highly liquid trading pairs.
Also, buying Bitcoin within telegrams will be interesting for new participants in the crypto market, who have recently learned about cryptocurrencies through gaming tokens Notcoin, Humster, etc.
A similar Bitcoin token on the Ethereum blockchain called WBTC (wrapped BTC) has been around for a long time and is very popular, even with several competing solutions.
What is a bridge and a wrapped token?
