Recap of BitTorrent Chain in 2023

Blockworks2024/06/18 15:23

By: Blockworks

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

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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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