My Ton Wallet will accept TRON, USDT, and additional cryptocurrency assets that adhere to the TRC-20 token standard.
The Open Network (TON) ecosystem wallet that supports cryptocurrency assets on the Tron blockchain has been announced.
The self-custodial wallet My Ton Wallet announced on September 23 that it will include Tron to support its network’s assets. This contains Tether USDT$1.00, Tron TRX$0.1527, the native token of the network, and other TRC-20-compliant tokens.
The My Ton Wallet team claims that by integrating Tron-based assets, it is the first wallet in the TON ecosystem.
The basis for compatibility
According to the team, this action “lays the foundation” for blockchain interoperability. According to Alexander Zinchuk, the founder of My Ton Wallet, consumers should prioritize maintaining their assets across many chains. The manager stated:
“Managing assets across multiple blockchains is becoming increasingly vital for users, and this initial integration is just the beginning.”
Zinchuk added that the change will result in more TON ecosystem adoption. “We intend to bridge ecosystems and open up the TON network to a wider audience, encouraging increased acceptance and accessibility,” Zinchuk continued. “By merging with other significant networks like Tron.”
The TON-based wallet promised to improve its cross-chain functionality in the future. The project stated its primary goals would be to support more blockchains, such as Ethereum, Solana, and the Binance Smart Chain, and to enable swaps.
The crypto industry strives toward compatibility.
The statement comes after a push in the cryptocurrency community for more blockchain interoperability. Plans to address interoperability difficulties on the Ethereum blockchain were revealed by Vitalik Buterin, co-founder of Ethereum, on August 6. According to Buterin, many could be surprised by the quick resolution of interoperability problems.
The new cross-chain swap solution called “Fusion+” was introduced by the decentralized exchange (DEX) aggregator 1-inch network on September 18. The feature powers its swaps by combining off-chain and onchain liquidity. It facilitates “all-or-nothing” transactions via atomic swap technology. All monies are restored to the original holder if a swap fails.
In the meantime, tunneling is a feature that key Bitcoin developer Jeff Garzik created a protocol to “unify” the blockchains of Ethereum and Bitcoin. According to the Hemi Network team, tunneling eliminates the attack vectors associated with conventional bridge technology and permits Bitcoin and Ethereum to coexist.
According to Max Sanchez, the chief technology officer of Hemi, customers will be able to tunnel Bitcoin assets to Ethereum over the Hemi Network.
