- TRON and BitTorrent will collaborate for a new project called BitTorrent Chain.
- The project aims to address all of TRON’s DeFi, NFT, and DApps difficulties.
- Reports say it will launch on October 30, 2021.
The two giants’ project will be a first of its kind. Reports say that it will be the “first scalable heterogeneous cross-chain interoperability protocol in the blockchain space.”
BitTorrent Chain Explained
According to the announcement, the project will be a layer 2 scaling. Further, it aims to deal with all of TRON’s DeFi, NFT, and DApp cross-chain difficulties. More so, this would also be a cross-chain solution that would connect TRON, Ethereum, and Binance Smart Chain. In addition, by connecting these three platforms, users will experience BitTorrent Chain’s lower transaction fees with faster speed.
(1/2)🌰#BitTorrent Chain in a nutshell
💠As a Layer 2 scaling and cross-chain solution, BitTorrent Chain excels with these 4 unique features:
✅Low transaction fee pic.twitter.com/2xQcMY06aW
— BitTorrent Inc.🅣 (@BitTorrent) September 9, 2021
In a nutshell, BTTC will also be in full compatibility with Ethereum Virtual Machine (EVM). Additionally, it will allow EVM developers to migrate their Ethereum-based apps fully onto BitTorrent Chain, seamlessly.
BTTC is fully decentralized. Furthermore, it will offer a more secure and transparent mechanism — transparent nodes and custodial accounts, as well as traceable transactions. In the announcement, it mentioned that the TRON blockchain will initiate a Super Representative election. It says there will be a limited number of spots for the election. Also, BTT holders can cast their votes to earn rewards for staking. More so, users will be able to earn BTT rewards and participate in the community governance, when they become SRs on the network.
BitTorrent says BTTC will continue to access public chains like HECO, OEC, and Polygon in the future as well.