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Singapore – August 16, 2024 – Recent reports from both Cointelegraph and CryptoRank have shed light on BitTorrent Chain (BTTC) and its integral role within the BitTorrent ecosystem. These analyses highlight BTTC’s innovations, its pivotal contributions to various BitTorrent products, and its evolving position in the broader blockchain landscape.

BTTC is a cornerstone of the BitTorrent ecosystem, powering the original BitTorrent torrent tracker, the Bittorrent Filesystem (BTFS), and the DLive streaming platform. Its role extends beyond infrastructure; it operates as a cross-chain multi-layer protocol that ensures seamless asset interoperability across Ethereum, TRON, and BNB Chain. This capability sets BTTC apart from traditional single-chain solutions, providing a high-throughput, scalable platform that addresses critical blockchain scalability and integration challenges.

The recent Cointelegraph report titled “BitTorrent Chain Bridging Breakthroughs in H1 2024: Unlocking Tron’s Potential” underscores BTTC’s architectural prowess, featuring a multi-chain proof-of-stake (PoS) model and EVM-compatible sidechains derived from Tendermint software. This setup enables BTTC to achieve high throughput, low block times, and minimal transaction fees. The platform’s advanced bridging mechanism, which incorporates a classic lock-and-mint model, facilitates asset transfers across TRON, Ethereum, and BNB Chain, with support for over 75 token mappings. Furthermore, relayer services enhance the user experience by providing faster withdrawals and reducing transaction fees.

The CryptoRank report was titled “State of the BitTorrent Chain H1 2024” expands on this by describing the extensive utility of the $BTT token. In addition to its use for gas fees, $BTT facilitates faster file distribution, rewards validators, supports BTFS storage payments, and serves various functions within the BitTorrent ecosystem, including as collateral on JustLend DAO and a perpetual holding on SUN.io. It even has legal tender status in Dominica. Despite the changing dynamics with the rise of cloud storage and streaming services, BitTorrent remains a major player with over 170 million active users and significant annual revenues.

The first half of 2024 has seen several milestones for BTTC. According to CryptoRank, these include listings on major exchanges such as Bitfinex, Mercado Bitcoin, and Bitci Borsa, an official partnership with HTX DAO, and integration with DEXTools. These achievements reflect the continued evolution of BTTC and its ability to adapt to emerging trends such as decentralized physical infrastructure networks (DePIN) and potential Bitcoin integrations.

Both reports highlight the strategic importance of BTTC in enhancing blockchain interoperability and scaling solutions. The platform not only facilitates seamless transfers of mainstream assets across multiple blockchains, but also serves as a robust foundation for Web3 applications. As BTTC continues to expand its ecosystem and integrate with new blockchain technologies, it is poised to play a pivotal role in shaping the future of blockchain scalability and cross-chain interactions.

About BitTorrent Chain

BitTorrent Chain (BTTC) is the world’s first heterogeneous cross-chain interoperability protocol, which uses the PoS (Proof-of-Stake) mechanism and leverages sidechains for scaling smart contracts. It now enables interoperability with the public chains of Ethereum, TRON, and BNB Chain. BitTorrent Chain is fully compatible with EVM and facilitates the seamless transfer of assets across mainstream public chains. The governance token BTT, also known as BTTOLD on TRON Protocol, received legal status as an authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7, 2022.

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