Highlights
- BitTorrent and TRON officially launch the BitTorrent Chain.
- The protocol is the first of its kind in the industry.
- The project will provide lower transaction fees and facilitate mainstream asset movement among chains.
About BitTorrent
Bram Cohen, an American programmer, created BitTorrent as a peer-to-peer data transfer protocol that may be used to send data across the world. To improve the functionality of BitTorrent, the BTT cryptocurrency, a TRC-10 currency, was created applying the TRON blockchain technology.
By using this cryptographic token, BitTorrent will be able to gain access to a variety of benefits including varied networking, bandwidth, and storage resource sharing as well as trade economics features.
Another plus of employing BitTorrent Token (BTT) is that the BitTorrent speed is significantly boosted.
BitTorrent Chain (BTT) Launch
BitTorrent has officially announced the launch of its BitTorrent Chain (BTTC). The announcement is coming exactly 12 days after BitTorrent announced its plans of creating a chain that would cut down gas fees to near zero.
🌉#BitTorrent Chain, the first scalable heterogeneous cross-chain interoperability protocol, is officially launched!
🔥Testnet is running now: https://t.co/zNWidMLnTw
🥳@BitTorrent and @Tronfoundation welcome developers and the communities to be nodes of #BTTC! pic.twitter.com/luhbQr24S8
— BitTorrent Inc. (@BitTorrent) October 30, 2021
BTTC is already compatible with the cryptocurrencies TRON, Ethereum, and BSC. Soon, it will also provide support for HECO and OEC. Later on, the BTTC will expand its reach to include other public chains to link all chains. Between now and then, TRON plans to spend $1 billion on promoting the transfer of projects from Ethereum to the BTTC blockchain.
According to the tweet, BTTC is a heterogeneous cross-chain interoperability protocol co-developed by the core teams of BitTorrent and TRON. It is the first of its kind in the industry. It has a proof-of-stake consensus method and multi-node validation, and it also allows off-chain matching and smart contract extension using sidechains, among other things. This has resulted in the development of core competencies such as a diverse cross-chain structure, quick and cost-effective transfers, and asset security for BTTC.
According to TRON creator Justin Sun’s open letter on TRON’s new vision and the formal launch of BitTorrent Chain, users may move mainstream assets between TRON, Ethereum, and BSC via the completely decentralized BTTC.
Furthermore, being a layer two network compatible with both TRON and Ethereum, BTTC is entirely consistent with EVM, enabling EVM developers to transfer their Ethereum-based apps onto BitTorrent Chain, allowing for greater network scalability.
TRON and BitTorrent are officially entering the cross-chain race with the debut of the BTTC, ushering in a new age for us all.
What next for the BitTorrent TRON Collaboration
The BitTorrent Protocol is the world’s most widely used decentralized protocol, with well over a billion users across the globe. From its conception, BitTorrent has been responsible for the maintenance of the protocol. However, the most widely used implementations are still BitTorrent and Utorrent.
The strategic alliance between TRON and the BitTorrent Protocol has made TRON a global leader in decentralized environments, while BitTorrent is the world’s most important distributed application.
