Recap of BitTorrent Chain in 2023
–News Direct–
BitTorrent Chain has proactively worked to expand its DeFi capabilities by integrating noteworthy projects like Sushi, SpookySwap, and Kyberswap. It has exciting plans with projects including Pyth.network, QuickSwap, and Graph set to be introduced in the coming months.
What is the BitTorrent Chain?
Launched on September 15, 2021, BitTorrent Chain (BTTC) is a collaborative project between TRON DAO and BitTorrent. As a first-of-its-kind scalable cross-chain protocol on the TRON network, BTTC employs a Proof of Stake (PoS) consensus mechanism leveraging various sidechains for the scaling of smart contracts. BTTC is Ethereum Virtual Machine (EVM) compatible and allows for interoperability between blockchains like Ethereum, TRON, and BNB Chain. This allows for seamless exchange of assets and enhances connectivity within the DeFi ecosystem. Central to the BTTC ecosystem, the BitTorrent Token (BTT) plays a crucial role in incentivizing network participation and content sharing.
Key events of 2023
February 14 – SushiSwap launches new yield farms on BTTC
April 12 – SWFT AllChain Bridge supports BTTC
July 12 – BTT utility token listed on Bittrex Global
July 14 – MDEX deploys BTTC
November 9 – Chain switcher for BTTC goes live on SpookySwap
December 15 – Pyth Network supports BTTC
Conclusion
As a world-leading blockchain scaling solution, BTTC provides cross-chain services between various public blockchains, providing a faster, cheaper, and more scalable platform for Web3 developers.
BTTC also enables users to transfer mainstream assets seamlessly among TRON, Ethereum, and BNB Chain without any limitations in a decentralized manner. It will soon be compatible with more public blockchains, fulfilling its mission of connecting all chains.
About BitTorrent Chain
BitTorrent Chain (BTTC) is the worlds first heterogeneous cross-chain interoperability protocol, which adopts the PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts. It now enables interoperability with the public chains of Ethereum, TRON, and BNB Chain. Fully compatible with EVM, BitTorrent Chain facilitates the seamless transfer of assets across mainstream public chains. The governance token BTT, also known as BTTOLD on TRON Protocol was granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7th 2022.
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View source version on newsdirect.com: https://newsdirect.com/news/recap-of-bittorrent-chain-in-2023-402501457
BitTorrent Chain
COMTEX_447004115/2655/2024-01-29T09:00:17
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