Bittorrent Chain Research: Unveiling a New Phase of Cross-chain Integration and Scalability
CoinMarketCap Research recently disclosed an in-depth analysis on the Bittorrent Chain (BTTC), an innovative, EVM-compatible, proof-of-stake layer-2 chain, born from a partnership between TRON and BitTorrent. Utilizing BitTorrent’s extensive user base and TRON’s proficiency in blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. technology, the BTTC aims to rectify scalability issues and bolster interoperability among blockchains, marking a significant advancement in the Bittorrent Chain research. The BTTC Bridge, a key component of the chain, facilitates cross-chain liquidity flow. It presently supports TRON, EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH., and BNB Smart Chain, with plans to include more chains in the future. The ecosystem’s native token, BTT, functions in several capacities, like a governance token, gas token, and a utility token for various BitTorrent offerings, also having a legal tender status in the Commonwealth of Dominica. The BTTC ecosystem showcases its strength with over 46 billion BTT tokens staked with 12 active validators, which equates to approximately 5% of the total circulating supply. In the DeFi domain, BTT tokens valued over $9.1 million are supplied on JustLend, TRON’s premier DApp and lending protocol. This analysis sheds light on the potential future trajectory of Bittorrent Chain research.
Continue Reading…
