SINGAPORE, Nov 1, 2021 - (ACN Newswire) - TRON, a leading public chain, is pleased to announce a major initiative with BitTorrent Chain (BTTC) test network, a layer 2 cross-chain scaling solution compatible with TRON, Ethereum and BSC (HECO and OEC to be integrated in the near future). BTTC officially went live on October 30.
BTTC is the first heterogeneous cross-chain interoperability protocol in the industry, with core advantages such as fast transmission speed and low transaction costs while ensuring asset security. BTTC was born to address the need for cross-chain scaling solutions.
Public chain projects are growing rapidly in number. However, many of these projects are not interconnected owing to incompatible technologies, ecosystems, and competition, leading to isolated users, assets, applications, data, altogether curbing the growth of the industry as a whole.
Connecting to mainstream public chains such as TRON, Ethereum and BSC reduces information and asset barriers, and enables a smooth exchange of data and value. BTTC will help to overcome data isolation among public chains.
TRON founder Justin Sun, in an open letter to the community, said that 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''.
TRON has also committed a total of US$1 billion to spur the migration of projects from Ethereum onto BitTorrent Chain (BTTC). BTTC is in line with TRON's vision of connecting all chains.
TRON is among the world's three largest public chains today, with 58 million accounts, 2.5 billion transactions, upwards of $50 billion on-chain assets, a TVL of more than $11.5 billion across its DeFi products and over $10 billion worth of transactions daily, five times higher than that of PayPal.
With BTTC, TRON hopes to draw users to its increasingly prosperous and diverse ecosystem, unleashing even greater potential.
Jessica ZHANG, TRON
Topic: Press release summary
Source: TRON Foundation
Sectors: Crypto, Exchange, Blockchain, Technology
From the Asia Corporate News Network
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