New York, NY, October 16th, 2024, Chainwire
Axelar Foundation and the TON Foundation announced today that TON, the open network, will be integrating Axelar’s Mobius Development Stack (MDS) as an interoperability platform, following a comprehensive evaluation of cross-chain solutions. Axelar’s Interchain Amplifier technology offers secure, seamless integration, connecting the TON ecosystem with over 68 blockchains. This integration aims to boost TON’s scalability and drive new opportunities for mass adoption, while Web3 applications across the ecosystem gear up to leverage these advancements.
TON Blockchain has evolved into a powerful combination: 950 million Telegram users, a top 10 position with over $13B market cap, plus a fast-growing ecosystem of application builders. Now, TON is adding an interoperability platform that will serve as a secure onramp, opening TON Blockchain opportunities to applications, assets and users across Web3. Axelar already connects any Cosmos (IBC), Ethereum Virtual Machine (EVM) and Polkadot ecosystems; other popular consensus approaches such as Flow, Hedera, Solana, Stellar, Sui and XRP Ledger are expected later this year.
Axelar MDS is fully programmable and permissionless, allowing any project to build its connection and compose freely with any blockchain or off-chain resource. The TON Foundation explored various cross-chain platforms to find solutions. Among the options, Axelar MDS was recognized as an open interoperability platform. This commitment aligns closely with the TON ethos – and has made Axelar the leader in connecting diverse blockchains.
“The TON community values fast network performance, decentralized infrastructure, and a seamless user experience,” said Anthony Tsivarev, Director of Ecosystem Development, TON Foundation. “Axelar MDS is an ideal choice for a TON interoperability layer: it’s an open, developer-friendly stack that enables secure, one-click integration for building apps across networks.”
As TON’s new interoperability platform, Axelar MDS will act as a consensus point, preventing fragmented liquidity and user confusion that comes with multiple bridged versions of the same asset. Other bridges are free to connect – but Axelar MDS includes solutions like Interchain Token Service (ITS) that go beyond bridges. In short, MDS will deliver a secure, unified cross-chain connection, available to all users and developers on TON.
“Innovative platforms like TON Blockchain are exactly what Axelar MDS was built for,” said Georgios Vlachos, co-founder of Axelar protocol and director at Axelar Foundation. “We’re inspired already by what developers are building on TON, and we’re looking forward to connecting MDS so devs can bring it openly to users and assets across Web3.”
This secure and seamless interoperability layer will be a powerful onramp for the community of TON builders already making headway with Mini Apps, Community Tokens and other innovative projects geared toward mass adoption, Meanwhile, applications across Web3 are already preparing to take advantage of TON opportunities via Axelar, expanding liquidity for the fast-growing TON community of users and builders.
Axelar will connect to TON via Interchain Amplifier, a developer toolkit that abstracts secure, protocol-layer connections between blockchains up to the smart-contract layer.
For more information about Axelar: https://axelar.network
For updates on TON Blockchain’s Axelar integration: https://t.me/toncoin
About Axelar
Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups, building applications to reach all blockchain users at once – 10X as many active users as the leading Web3 application environment. Axelar supports smart contracts on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.
About Axelar Foundation
Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar network, a decentralized interoperability network that connects multiple blockchain ecosystems. Users can learn more at axelar.foundation.
About TON
The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON’s vision is to empower 500 million users to own their digital identity, data, and assets by 2028. Users can learn more at https://ton.org/.
TON Media Contact
Laura Guzik, PR Manager, TON, [email protected]
Contact
PR Director
Karla Vilhelem
MarketWaves
[email protected]
The post Axelar Selected by TON for Open Interoperability Across Web3 appeared first on Chainwire.