One of the wallets available in The Open Network (TON) ecosystem has announced that it will support cryptocurrency assets on the Tron blockchain.
On September 23, self-custodial wallet MyTonWallet announced that it would integrate Tron to support assets within the network. This includes the network’s native token, Tron (TRX), Tether (USDT), and other tokens that use the TRC-20 standard.
The MyTonWallet team claims to be the first wallet to integrate Tron-based assets in the TON ecosystem.
Foundation for interoperability
The team believes this move “lays the foundation” for blockchain interoperability. MyTonWallet founder Alexander Zinchuk believes that managing assets across multiple chains is crucial for users. The executive said:
“Managing assets across multiple blockchains is becoming increasingly important to users, and this initial integration is just the beginning.”
Zinchuk also said that this move will lead to better adoption of the TON ecosystem. “By integrating with other major networks like Tron, we aim to connect the ecosystem and open the TON network to a wider audience, driving greater adoption and accessibility,” Zinchuk added.
The TON-based wallet also mentioned that it will further enhance cross-chain functionality in the future. The project said that it will focus on enabling swaps and adding support for other blockchains, including Binance Smart Chain, Solana, and Ethereum.
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The crypto space is moving towards interoperability
The announcement follows a push for broader blockchain interoperability within the cryptocurrency space. On August 6, Ethereum co-founder Vitalik Buterin revealed plans to address the interoperability issues of the Ethereum blockchain. Buterin said the solution to the interoperability issue could surprise people soon.
On September 18, decentralized exchange (DEX) aggregator 1inch Network introduced a new cross-chain swap solution called “Fusion+.” The feature combines on-chain and off-chain liquidity to power swaps. It uses atomic swap technology to support “all or nothing” trades. If the swap fails, all funds are returned to the original holder.
Meanwhile, Bitcoin core developer Jeff Garzik has founded a protocol that aims to “unify” the Bitcoin and Ethereum blockchains using a feature called tunneling. The Hemi Network team claims that tunneling will allow Bitcoin and Ethereum to coexist while eliminating the attack vectors that come with existing bridge technologies.
Hemi’s chief technology officer, Max Sanchez, told Cointelegraph that the technology would allow users to tunnel their Bitcoin assets to the Hemi network and then to Ethereum.
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