Justin Sun Announces Launch of Tron L2 Scaling Solution
Tron Founder Justin Sun Unveils BitTorrent Chain (BTTC), a Layer 2 (L2) Cross-Chain Solution for Blockchain Scaling. Its launch is scheduled for October 30, 2021.
(1/9) ✉️ It’s been a while since I wrote my last open letter to the community.
Now I’d like to share some of my thoughts on the future of the #TRON protocol, which was made after careful deliberation and evaluation of the future of the blockchain industry. pic.twitter.com / xp0Fras53x
– Justin Sun 🅣🌞 (@justinsuntron) September 3, 2021
According to Sang, after the implementation of BTTC, all decentralized applications on Tron, including from the spheres DeFi and NFT, will use its capabilities. The solution will also ensure blockchain compatibility with Binance Smart Chain (BSC) and Ethereum networks.
“With the help of BitTorrent Chain, users will be able to decentralized and without restrictions transfer major assets between Tron, Ethereum and BSC. In the near future, the solution will gain compatibility with a large number of public chains, fulfilling the mission of uniting them, ”wrote Sun.
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The head of Tron noted that BTTC is fully compatible with EVM, which is “a single standard for cross-chain protocols”. This means that developers of applications based on Ethereum will be able to transfer their projects to L2.
“Meanwhile, Tron has already invested a total of $ 450 million in DeFi [liquidity] mining and intends to take another step to join the global EVM arms race. The company will allocate $ 1 billion to stimulate the migration of a large number of projects from Ethereum to BTTC “, – said Sun.
He also stressed that the BitTorrent Chain will be completely decentralized. As in the main Tron network, L2 will host elections for super representatives among nodes.
What is TRON?
Recall that in July 2021, the Center consortium launched USDC stablecoin on the Tron blockchain.
