Recap of BitTorrent Chain in 2023

BitTorrent Chain (BTTC) is a collaborative project between TRON DAO and BitTorrent

February 8, 2024 08:00 am

Source: TRON

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.

This content is sponsored by TRON and does not serve as an endorsement by Blockworks. The veracity of this content has not been verified and should not serve as financial advice. We encourage readers to conduct their own research before making financial decisions.

Tags

TRON

Newsletter

Blockworks Daily

Upcoming Events

Permissionless III Hackathon

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

learn more

Permissionless III

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.

learn more

recent research

Research

Why Solana Mobile Should 100x Their Phone Production

Solana Mobile is a highly ambitious foray into the mobile consumer hardware market, seeking to open up a crypto-native distribution channel for mobile-first applications. The market for Solana Mobile devices has demonstrated a phenomenon whereby external market actors (e.g. Solana-native projects) continuously underwrite subsidies to Mobile consumers. The value of these subsidies, coming in the form of airdrops, trial programs, and exclusive NFT mints, have consistently covered the cost of the phone and generated positive returns for consumers. Given this trend in subsidies, the unit economics in the market for Mobile devices, and the initial growth rate and trajectory of sales, it should be expected that Solana mobile can clear 1M to 10M units over the coming years. As more devices circulate amongst users, Solana Mobile presents a promising venue for the emergence of killer-applications uniquely enabled by this mobile-first, crypto-native distribution channel.

by Luke Leasure