The TON Application Chain (TAC) and Polygon Labs have announced a strategic partnership to integrate Ethereum Virtual Machine (EVM) functionality into the TON ecosystem, significantly enhancing its capacity to support decentralized applications (DApps) across various sectors, including decentralized finance (DeFi), gaming, and identity solutions. This announcement was made on July 9, 2024, and is poised to revolutionize the user experience within the TON network.
The integration involves the TON Layer 2 integrating Polygon CDK and the interoperability protocol Agglayer, facilitating EVM-compatible DApps on TAC. This move will enable a broader range of applications for TON users, including DeFi platforms, gaming applications, and advanced identity solutions. TAC CEO Pavel Altukhov highlighted that EVM compatibility will eliminate existing barriers, attracting significant interest in DeFi and GameFi applications on the network.
Currently, EVM applications are not available on the TON network, necessitating users to navigate complex interfaces. However, the recent integration of USDT on TON and the popularity of Tap-to-Earn applications, like Notcoin, have spurred growth in the mini apps ecosystem. Notably, Telegram, the messaging platform closely associated with TON, has 5.8 million monthly active on-chain wallets. With EVM compatibility, Ethereum developers can now leverage this extensive user base on Telegram, creating seamless experiences and expanding their reach.
According to a July 5 post by Messari, the number of daily active addresses on the TON network surpassed Ethereum in June. This milestone underscores the increasing activity and interest in the TON ecosystem. Despite this success, there has been a rise in phishing attacks on the blockchain. On June 24, SlowMist founder Yu Xian warned about the proliferation of phishing links within the Telegram ecosystem, exploiting its openness through message groups and airdrops. Users with anonymous numbers face higher phishing risks, as these accounts are not linked to SIM cards and can be easily compromised by malicious actors.
The introduction of EVM functionality is expected to enhance the user experience on the TON network significantly. EVM compatibility will streamline the deployment of Ethereum-based applications on TON, reducing complexity and improving accessibility for users. This integration will foster a more robust ecosystem, offering users a wider array of services and applications. Additionally, it will attract more developers to the TON network, leveraging its unique features and extensive user base to create innovative solutions.
The collaboration between TAC and Polygon Labs marks a pivotal moment in the evolution of the TON network, setting the stage for increased adoption and functionality. By embracing EVM compatibility, the TON ecosystem is poised to become more versatile and user-friendly, driving growth and innovation in the blockchain space.
