Summary: TON Application Chain Launches Layer-2 Network
The TON Application Chain (TAC) is introducing a new layer-2 network within the TON Blockchain ecosystem. This network will utilize Polygon’s Chain Development Kit (CDK) and AggLayer technology, making it Ethereum Virtual Machine (EVM) compatible. The collaboration aims to enable EVM-based decentralized applications (DApps) to function within the TON ecosystem. The project is supported by The Open Platform, an investor focusing on the TON blockchain ecosystem.
The Expansion of TON’s Capabilities
The TON Application Chain (TAC) recently unveiled plans to launch a new layer-2 network, referred to as TAC, at the Ethereum Community Conference (EthCC) in Brussels. This initiative is designed to create a connection between the TON ecosystem and Ethereum-based applications, potentially unlocking new opportunities for Telegram’s extensive user base.
Key points about the launch of TAC:
- Aims to bridge TON ecosystem with Ethereum-based applications
- Backed by The Open Platform, an investor focusing on the TON blockchain ecosystem
Utilizing Polygon’s Technology
TAC will leverage technology from Polygon, a developer focused on Ethereum layer-2 solutions, to enhance its capabilities. By utilizing Polygon’s Chain Development Kit (CDK) and AggLayer protocol, TAC aims to combine TON’s user base with Polygon’s expertise in scaling solutions.
Ethereum Virtual Machine Compatibility
An essential feature of the TAC project is its compatibility with the Ethereum Virtual Machine (EVM), mirroring Ethereum’s operating system. This compatibility allows developers familiar with the Ethereum standard to seamlessly transition their projects to the new TAC layer-2 network within the TON ecosystem.
Optimistic Outlook for DApps
The integration of EVM functionality is expected to broaden the range of applications accessible to TON network users. Potential use cases include decentralized finance (DeFi) applications, gaming platforms, and decentralized identity solutions. TAC founder Pavel Altukhov expressed enthusiasm for the development of DeFi and GameFi applications within the ecosystem.
Significant Growth in the TON Ecosystem
The TON ecosystem has been experiencing substantial growth, with daily active addresses surpassing Ethereum in June 2024. This expansion has led to 5.8 million monthly active on-chain wallets, a number that is set to increase with TAC’s integration.
Expanding Landscape of Layer-2 Networks
Major blockchain companies are increasingly exploring their own layer-2 solutions, with TAC joining the likes of Coinbase, Celo, Worldcoin, and OKX in this endeavor. TAC’s unique approach focuses on connecting the TON ecosystem with the broader Ethereum landscape.
Expertise and Potential Impact
The TAC founding team, including Michael Egorov, the founder of Curve Finance, brings significant expertise to the project. Egorov highlighted the potential of TAC in connecting Telegram’s massive user base with DeFi applications, driving further adoption in the DeFi space.
Hot Take: Potential Implications of TAC
The launch of the TAC layer-2 network within the TON ecosystem signifies a significant step towards enhancing the capabilities and reach of the TON blockchain. By enabling EVM-compatible DApps to operate within the ecosystem, TAC has the potential to introduce decentralized applications to Telegram’s extensive user base, fostering greater adoption and innovation in the blockchain space.
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