TRON, a leading public chain, is pleased to announce a major initiative with BitTorrent Chain (BTTC) test network, a layer 2 cross-chain scaling solution compatible with TRON, Ethereum and BSC (HECO and OEC to be integrated in the near future). BTTC officially went live on October 30.
BTTC is the first heterogeneous cross-chain interoperability protocol in the industry, with core advantages such as fast transmission speed and low transaction costs while ensuring asset security. BTTC was born to address the need for cross-chain scaling solutions.
Public chain projects are growing rapidly in number. However, many of these projects are not interconnected owing to incompatible technologies, ecosystems, and competition, leading to isolated users, assets, applications, data, altogether curbing the growth of the industry as a whole.
Connecting to mainstream public chains such as TRON, Ethereum and BSC reduces information and asset barriers, and enables a smooth exchange of data and value. BTTC will help to overcome data isolation among public chains.
TRON founder Justin Sun, in an open letter to the community, said that BTTC will provide global mainstream blockchains with a practical scaling solution, and more importantly, will deliver heterogeneous cross-chain communication that is decentralized and free of trust, ushering in a new era of “connecting all chains”.
TRON has also committed a total of US$1 billion to spur the migration of projects from Ethereum onto BitTorrent Chain (BTTC). BTTC is in line with TRON’s vision of connecting all chains.
TRON is among the world’s three largest public chains today, with 58 million accounts, 2.5 billion transactions, upwards of $50 billion on-chain assets, a TVL of more than $11.5 billion across its DeFi products and over $10 billion worth of transactions daily, five times higher than that of PayPal.
With BTTC, TRON hopes to draw users to its increasingly prosperous and diverse ecosystem, unleashing even greater potential.
On October 30, TRON tweeted to announce the official launch of BitTorrent Chain (BTTC) test network. BTTC is already compatible with TRON, Ethereum and BSC. It will also support HECO and OEC in the near future. Down the road, BTTC will arrive on more public chains to deliver its mission of connecting all chains. In the meantime, TRON will earmark $1 billion to spur the migration of projects from Ethereum onto BTTC.
BTTC is co-developed by the core teams of BitTorrent and TRON, and is the first heterogeneous cross-chain interoperability protocol in the industry. It features a PoS consensus mechanism and multi-node validation, and supports off-chain matching and smart contract extension through sidechains. These have endowed BTTC with core competencies such as a heterogeneous cross-chain structure, fast and cost-effective transfers, and asset security.
By leveraging the fully decentralized BTTC, users are able to transfer mainstream assets among TRON, Ethereum, BSC in a decentralized manner without any limit, according to the open letter by TRON founder Justin Sun on TRON’s new vision and the official launch of BitTorrent Chain.
Further, as a layer 2 network that is compatible with both the TRON and Ethereum protocols, BTTC features full compatibility with EVM — all EVM developers are allowed to easily migrate their Ethereum-based applications fully onto BitTorrent Chain, which provides superior scalability for the Ethereum network.
As BTTC arrives, TRON will see the emergence of a closed-loop ecosystem of layer 1 and 2 networks with sound cross-chain connectivity. By integrating both a robust underlying network of Global Human Settlement Layer and a heterogeneous, scalable cross-chain network BitTorrent Chain that features high throughput and full compatibility with EVM, TRON will enable smooth communication with the world’s top layer 1 networks such as Ethereum and BSC.
It is noteworthy that a verifier election of BitTorrent Chain nodes will be held on the TRON blockchain, similar to the one for the TRON protocol. Everyone can take part in the election to become a BTTC node, and BTT holders can cast their votes to earn staking rewards. It is also worth attention that only a limited number of seats are available, and the election will be ended once the limit is reached. Users can earn BTT rewards and co-govern the community once they become the verifiers.
TRON is among the top three public chains and one of the largest blockchain-based operating systems in the world. It has been on a fast track to growth since its inception, and now boasts upwards of 58 million users, more than 2.5 billion transactions, and a TVL of over $11.5 billion. Compared with traditional financial transfer networks, TRON’s daily settlement volume is already five times higher than that of PayPal.
TRON has also been active in the innovation of NFT’s underlying technology. Besides launching the first NFT standard TRC-721 this March, TRON also enhanced the world’s largest distributed storage system BTFS, providing a comprehensive and efficient infrastructure to turn artworks as NFTs on blockchains. Today, TRON’s ecosystem is taking off on all fronts.
With the BTTC launch as the prelude, TRON and BitTorrent are officially making inroads into the cross-chain race, ushering in a new era for us all.
BTTC is co-developed by the core teams of BitTorrent and TRON, and is the first heterogeneous cross-chain interoperability protocol in the industry. It features a PoS consensus mechanism and multi-node validation, and supports off-chain matching and smart contract extension through sidechains. These have endowed BTTC with core competencies such as a heterogeneous cross-chain structure, fast and cost-effective transfers, and asset security.
By leveraging the fully decentralized BTTC, users are able to transfer mainstream assets among TRON, Ethereum, BSC in a decentralized manner without any limit, according to the open letter by TRON founder Justin Sun on TRON’s new vision and the official launch of BitTorrent Chain.
Further, as a layer 2 network that is compatible with both the TRON and Ethereum protocols, BTTC features full compatibility with EVM — all EVM developers are allowed to easily migrate their Ethereum-based applications fully onto BitTorrent Chain, which provides superior scalability for the Ethereum network.
As BTTC arrives, TRON will see the emergence of a closed-loop ecosystem of layer 1 and 2 networks with sound cross-chain connectivity. By integrating both a robust underlying network of Global Human Settlement Layer and a heterogeneous, scalable cross-chain network BitTorrent Chain that features high throughput and full compatibility with EVM, TRON will enable smooth communication with the world’s top layer 1 networks such as Ethereum and BSC.
It is noteworthy that a verifier election of BitTorrent Chain nodes will be held on the TRON blockchain, similar to the one for the TRON protocol. Everyone can take part in the election to become a BTTC node, and BTT holders can cast their votes to earn staking rewards. It is also worth attention that only a limited number of seats are available, and the election will be ended once the limit is reached. Users can earn BTT rewards and co-govern the community once they become the verifiers.
TRON is among the top three public chains and one of the largest blockchain-based operating systems in the world. It has been on a fast track to growth since its inception, and now boasts upwards of 58 million users, more than 2.5 billion transactions, and a TVL of over $11.5 billion. Compared with traditional financial transfer networks, TRON’s daily settlement volume is already five times higher than that of PayPal.
TRON has also been active in the innovation of NFT’s underlying technology. Besides launching the first NFT standard TRC-721 this March, TRON also enhanced the world’s largest distributed storage system BTFS, providing a comprehensive and efficient infrastructure to turn artworks as NFTs on blockchains. Today, TRON’s ecosystem is taking off on all fronts.
With the BTTC launch as the prelude, TRON and BitTorrent are officially making inroads into the cross-chain race, ushering in a new era for us all.
On September 20, the founder of TRON, Justin Sun, announced the listing of VanEck TRX ETN (VTRX) on Deutsche Borse Xetra (www.xetra.com/xetra-en/).
Meanwhile, Clearstream is leveraged to connect to Euronext’s system, which will facilitate the trading of VTRX on the major exchanges of 14 European countries including those in London, Amsterdam, Paris, and Switzerland. Not long ago, TRON also inked a partnership with the US-based asset management firm Valkyrie Investments to launch Valkyrie TRON Trust. With the listings of TRON tokens on an increasing number of mainstream exchanges around the globe, TRON is clearly stepping up its efforts to expand in a compliant and transparent manner.
Back in 2012, Justin Sun introduced the concept of “blockchain” as a “value network” to China, which established him as an early advocator and adopter of blockchain in his homeland. Later, in 2017, he founded TRON. Till today, TRON is at the forefront of various competitive races including DeFi, NFT, stablecoins, distributed storage, staking mining, and staking. Moreover, it secured the third spot on the 25th CCID Global Public Blockchain Technology Assessment Index released by China’s Center for Information and Industry Development (CCID) this August. Today, Justin himself is going all-in on blockchain with the mission of ‘building a Chinese presence in this sphere’.
In January 2021, Justin Sun was specially appointed as a member of the Editorial Board of Information China Magazine, an authoritative national journal of China under the NDRC. Here, he has discussed with other experts and researchers of the industry the growth of China’s information industry. Prior to this, Xuexi Qiangguo (a public app featuring quality content administered by the Publicity Department of the Communist Party of China), The Study Times (the official newspaper of the Central Party School of the Communist Party of China), China Banking and Insurance News and other journals published Justin Sun’s article titled “Blockchain Redefines Trust in Financial Service”, garnering worldwide attention.
TRON has built a comprehensive ecosystem spanning from underlying protocols and smart contracts to NFT and metadata storage. With over 54 million accounts, it has handled a total of 2.4 billion transactions, settles over $6 billion per day, and contributes close to one-third to the circulating supply of stablecoins globally. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers high-scalability, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem.
TRON, as one of the world’s top three public chains, is not only committed to growing a scalable, thriving ecosystem but also to fulfilling the grand vision of the blockchain industry for mankind and the times. In his recent open letter to the community, Justin Sun mentioned that TRON is going to launch its layer-2 scaling cross-chain solution BTTC on October 30, 2021. With this release, TRON will form a closed loop of both layer 1 and 2 networks with sound cross-chain connectivity, which offers both a robust underlying network of the global human settlement layer and the heterogeneous scalable cross-chain network BitTorrent Chain that features high throughput and full compatibility with EVM. The cross-chain solution will usher in an era where all chains are connected and enable the smooth circulation of transparent and compliant digital assets worldwide.
