On October 30, TRON, one of leading public chains, start a major initiative to launch BitTorrent Chain (BTTC) test network, a layer 2 cross-chain scaling solution, being compatible with TRON, Ethereum, BSC. HECO and OEC will also be integrated in the near future.
The news has captivated the industry, putting BTTC and TRON under the public limelight.
It is reported that BTTC is the first heterogeneous cross-chain interoperability protocol in the industry, having core advantages such as heterogeneous cross-chain, fast transmission speed, low transaction costs and ensuring asset security.
According to our sources, BTTC was born to address the need for cross-chain scaling solutions. Today’s rapidly-growing blockchain industry is teeming with public chain projects. However, most of these projects fail to be interconnected owing to incompatible technologies, ecosystems, and competition, which leads to isolation of users, assets, applications, and data, altogether curbing the growth of the industry as a whole.
By connecting mainstream public chains such as TRON, Ethereum and BSC, it breaks down the information and asset barriers among them to enable the smooth exchange of data and value. BTTC is thus expected to be a cure to the pain of data isolation among public chains.
In the open letter published by TRON founder Justin Sun to the community, he stated that the upcoming 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”. Down the road, TRON will also earmark a total of $1 billion to spur the migration of projects from Ethereum onto BitTorrent Chain (BTTC).
Without a doubt, the launch of BTTC marks TRON’s first step towards its vision of connecting all chains.
Public sources reveal that TRON is one of the world’s three largest public chains today. Three years into its inception, TRON has made remarkable progress and established itself as one of the top public chain projects in the industry. At present, TRON boasts over 58 million accounts, 2.5 billion transactions, upwards of $50 billion on-chain assets, and a TVL of more than $11.5 billion across its DeFi products. It settles over $10 billion worth of transactions daily, five times higher than that of PayPal.
As BTTC goes live, TRON will draw more users from other chains to its increasingly prosperous and diverse ecosystem, unleashing even greater potential.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.