TL;DR Breakdown
- Polygon & TON team up for L2, boosting DeFi & GameFi
- New TON L2 promises faster, cheaper blockchain apps
- EVM-compatible DApps coming to TON via Polygon CDK
In a development for the blockchain industry, Polygon and Ton Application Chain have joined forces to launch a new Layer 2 solution for The Open Network (TON) ecosystem. The announcement, which was made on July 9th, marks a very important moment for TON users and promises to expand the network’s capabilities and introduce a wide array of new applications.
TON’s Expanding Potential
The two prominent blockchain entities aim to enhance the TON ecosystem by introducing a Layer 2 solution (L2). In a July 9 announcement, the TON Applications Chain (TAC) and Polygon earlier announced that the TON L2 had integrated Polygon CDK and the interoperability protocol Agglayer to bring EVM-compatible decentralized applications (DApps) to TAC. This move will increase the range of DApps available to the users, which includes decentralized finance, gaming, and identity solutions.
On June 6, Messari noted increasing numbers of active addresses on the TON network and they had surpassed Ethereum.
Layer 2 solutions are designed to improve the efficiency of blockchain networks. When TON implements this kind of technology, users can be ready for faster transactions, reduced fees, and a better network capacity.
Impact on DeFi and GameFi
The introduction of this new ecosystem poses a substantial impact on the DeFi and GameFi sectors within TON. The DeFi applications will benefit from improved transaction speeds and lower costs. On the other hand, the GameFi sector, which combines blockchain technology with gaming, could experience a positive impact. The newly enhanced scalability offered by the Layer 2 solution enables more complex and engaging blockchain-based games, this move tends to attract a wider audience to the TON ecosystem.
Ethereum developers may also get access to applications like Wallet in Telegram, which will further allow them to implement more real-world crypto applications.
Looking Ahead
As the newly launched Layer 2 solution gets launched, observers will be closely monitoring to see how it performs and what new applications are going to emerge. Users, as well as developers interested in leveraging this Layer 2 solution, should stay tuned for further announcements regarding its implementation and any associated development tools and resources.
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