On Saturday, October 30th, the team of the blockchain network TRON announced the official start of the BitTorrent Chain (BTTC) test network. BTTC is already compatible with TRON, Ethereum and BSC and will soon also support HECO and OEC.
In the future, BTTC will support more public chains to accomplish its mission of connecting all chains. The TRON team has also allocated $ 1 billion to help migrate projects from Ethereum to BTTC.
Jointly developed by the core BitTorrent and TRON teams, BTTC is the industry’s first heterogeneous cross-chain interoperability protocol. It has a PoS consensus mechanism and multi-node validation and supports off-chain matching and intelligent contract renewal through sidechains.
These have enriched BTTC with core competencies such as a heterogeneous, scalable cross-chain structure, inexpensive transfers and asset security.
By using the fully decentralized BTTC, users can transfer mainstream assets between TRON, Ethereum and BSC in a decentralized and unlimited manner, according to the open letter from TRON founder Justin Sun about TRON’s new vision and the official launch of BitTorrent Chain.
In addition, as a Layer 2 network that is compatible with both the TRON and Ethereum protocols, BTTC offers full compatibility with EVM – all EVM developers can easily migrate their Ethereum-based applications completely to the BitTorrent chain, which Network offers scalability for Ethereum.
With the arrival of BTTC, TRON will create a closed ecosystem of Layer 1 and Layer 2 networks with robust cross-chain connectivity.
It is noteworthy that a verifier election is performed by Bit torrent chain nodes on the TRON blockchain, similar to that for the TRON protocol. Anyone can vote to become a BTTC Node, and BTT holders can vote for staking rewards.
In addition, there are only a limited number of seats available and voting will end once the limit is reached. Users can earn BTT rewards and have a say in the community once they become the verifiers.
With its development, TRON has become one of the largest blockchain-based networks in the world. In addition, TRON has recently been active in NFT technology. In addition to introducing its first NFT standard (TRC-721) last March, TRON has also improved its BTFS distributed storage system and provided an alternative and efficient infrastructure to turn works of art into NFTs on the blockchain.
Source:
tron.network/bttc
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