BitTorrent (BTT) smart contract replacement, token increment and renaming to BitTorrent Chain (BTTC). The BTTC new token will be issued according to the exchange ratio of 1 BTT (old token)=1000 BTTC (new token).
BitTorrent Chain (BTTC) is a heterogeneous cross chain interaction protocol. It adopts the PoS (Proof of Stake) mechanism and uses the side chain to achieve the expansion of smart contracts. It can now interoperate with the common chain of Ethereum, Wave Field and BSC, and will support more chains in the future.
BTTC token will be applied to BitTorrent Chain ecosystem. The main use cases are as follows:
Become a verifier of BTTC network;
Pledge BTTC for reward;
Participate in the governance of BTTC community;
Pay gas fees as BTTC’s native token.
We have to admit that Sun Yuchen is really a marketing genius. He spent 4.57 million dollars to get the news of lunch with Buffett these two days, which made the currency price rise for a while. He also learned from his microblog that BitTorrent announced that it would launch BTFS, benchmarking IPFS. Decentralized storage is not only a hot track in the future, but also a very fierce competition. This hot spot is very good. Whether it can land is another matter, Refer to IPFS to see how difficult this is.
BitTorrent is currently a hot spot in the community, and its hype value is greater than its application value. In addition, BTT’s current inflation rate is high and its circulars are relatively concentrated. Investors should pay attention to risks. If you want to invest in BTTC, you must be clear that it is a short-term speculative product. In the short term, although it is difficult to land, it will not affect its price rise.