Back on Saturday, October 30th, the group of the blockchain network TRON, revealed the main launch of the BitTorrent Chain (BTTC) test network. BTTC is currently suitable with TRON, Ethereum, and BSC and it will quickly likewise support HECO and OEC.
In the future, BTTC will support more public chains to deliver its mission of connecting all chains. The TRON group has also earmarked $1 billion to stimulate the migration of tasks from Ethereum onto BTTC.
Co-developed by the core groups of BitTorrent and TRON, BTTC is the first heterogeneous cross-chain interoperability protocol in the industry. It includes a PoS consensus mechanism and multi-node recognition and supports off-chain matching and clever contract extension through sidechains.
These have enriched BTTC with core proficiencies such as a heterogeneous scalable cross-chain structure, economical transfers, and possession security.
By leveraging the totally decentralized BTTC, users are able to move traditional possessions 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 main launch of BitTorrent Chain.
Even more, as a layer-2 network that works with both the TRON and Ethereum protocols, BTTC functions complete compatibility with EVM – – all EVM developers are enabled to easily move their Ethereum-based applications totally onto BitTorrent Chain, which provides scalability for the Ethereum network.
As BTTC arrives, TRON will see the emergence of a closed-loop community of layer-1 and layer-2 networks with robust cross-chain connection.
It is notable that a verifier election of BitTorrent Chain nodes will be held on the TRON blockchain, similar to the one for the TRON procedure. Everybody can participate in the election to become a BTTC node, and BTT holders can cast their votes to earn staking benefits.
Moreover, just a restricted number of seats are available, and the election will be ended once the limit is reached. Users can earn BTT benefits and co-govern the community once they become the verifiers.
With its development, TRON has grown into among the largest blockchain-based networks in the world. Moreover, TRON has actually recently been active in NFT technology. Besides introducing its very first NFT standard (TRC-721) this previous March, TRON likewise improved its dispersed storage system BTFS, offering an option and effective infrastructure to turn artworks into NFTs on the blockchain.
The post TRON formally releases layer-2 scaling option BitTorrent Chain (BTTC) appeared initially on CryptoNinjas.