(PRESS RELEASE – Dubai, UAE, February 16, 2024)
CoinMarketCap Research, the research arm of leading crypto data aggregator CoinMarketCap, published a report covering an in-depth analysis of BitTorrent Chain (BTTC), an EVM-compatible proof-of-stake Layer 2 chain designed to address scalability issues and facilitate interoperability between blockchains. It is a collaborative project between TRON and BitTorrent, taking advantage of the latter's extensive user base and the former's blockchain expertise.
The BTTC bridge serves as the cornerstone of the chain, facilitating the movement of liquidity across supported EVM chains. It currently supports TRON, ethereum, and BNB Smart Chain, with plans to expand to more chains in the future.
BTT is the native token of the BTTC ecosystem and serves as a governance token, gas token, and utility token for various BitTorrent products and services. It is also accepted as legal tender in the Commonwealth of Dominica. Over 46 billion BTT tokens are up for grabs with its 12 active validators, representing approximately 5% of the total circulating supply. Within DeFi, over $9.1 million in BTT tokens are supplied on JustLend, TRON's largest DApp and lending protocol.
Find the full analysis here: https://coinmarketcap.com/academy/article/deep-dive-on-bittorrent-chain-bttc
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Contact
CMC Research
Alicia Liu
CoinMarketCap
[email protected]
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