More than 50% of European families have some investment in digital currency. The average European family sees crypto as a viable investment and savings option. This was discovered in several recent surveys conducted over different demographic areas. Despite the volatility of the crypto space, as recent events highlight, it has seen a continuous rise in new investors. More people are committing to crypto investments and many of them are taking steps to buy into the growing market. The flurry…
The TRON founder, Justin Sun, recently unveiled an open letter to the TRON community. The letter details the future of the TRON protocol. Also, the founder revealed more information on the upcoming BitTorrent Chain launch.
TRON Has Had Massive Growth
TRON’s Super Representative Committee launched the protocol in June 2018. It has since developed into a network that handles transfer volumes of over US$10 billion every day. The TRON Blockchain’s total assets are at over $50 billion. TRON decentralized financial programs have also totaled over $10 billion.
Today SWIFT is at the heart of the global settlement. It provides the worldwide transfer of transaction information between financial institutions. The 48-year-old model still fails to keep pace with the Internet’s development. Also, it has brought enormous extra expenses for institutions due to its inefficiencies.
TRON has shown the ability to become a global settlement layer for humans. It currently handles Paypal’s daily transfers five times. It is also fast and charges meager costs. Smart operating systems can iterate quickly. They can also provide interoperability and, at the same time, hold enormous growth.
And even in an intelligent Web-3 standard, it is far from possible to develop the protocol. Sun likens SWIFT’s efficiency to the Holy Roman Empire where it is neither Holy, nor Roman, nor an Empire.
What’s In For the Future
We are entering an era of entirely connected chains with a focus on inclusiveness in the sector. The new epoch should eliminate barriers between different blockchain networks. Before its launch, BitTorrent Chain (BTTC) will support three networks. That is, TRON, Ethereum, and Binance Smart Chain.
It will be the first scalable heterogeneous interoperability protocol in blockchain spaces. In other words, users can decentralize mainstream assets between the three without limitation. Soon, BTTC will achieve its vision as a connection to different public chains.
Complete Ethereum Virtual Machine (EVM) compatibility will also become a single standard for cross-chain protocols. The BitTorrent Chain has full EVM compatibility as a layer two network interoperable. That means that it will have both TRON and Ethereum protocols.
All EVM developers will convert their Ethereum-based applications to the BitTorrent Chain. Hence, giving the Ethereum network improved scalability.
Also, it will have a decentralized BitTorrent Chain. The decentralization feature ensures that users can take part in governance. In case of elections for a Super Representative among the BTTC nodes, users can also vote. Besides, by participating in governance activities, users can earn BTT awards.
Sun confirmed that BTTC would go live on 30th October 2021. Currently, TRON is building a loop with sound cross-chain connectivity. In the end, the process will involve both layer 1 and 2 networks.