In recent years, blockchain has gotten on a fast track of development and has been widely applied in digital finance, IoT, smart manufacturing, supply chain management, digital asset trading, among many other sectors. It has gained increased attention for its broader, promising use cases.  

As the blockchain ecosystem and the applications hosted on it grow, transactions on chains are also surging, which exposes many problems plaguing the underlying public chain. Constraints like slow processing, low compatibility, and the inefficient cross-system exchange of digital assets are becoming ever more pressing and have curbed the further expansion of blockchain.     

Against this backdrop, TRON, one of the world's top three public chains, launched the cross-chain scaling solution BitTorrent Chain (BTTC) on October 30. As the industry's first scalable heterogeneous cross-chain interoperability protocol, BTTC has drawn industry-wide attention upon its release.

The first batches of compatible public chains of BTTC are TRON, Ethereum, Binance Smart Chain (BSC), Huobi Eco Chain (Heco), and OEC. Moving forward, it will support more public chains, achieving its vision of connecting all chains in steps.  

BTTC will enable users to transfer mainstream assets to anyone faster, facilitating a swift exchange of cross-chain assets with minimal handling fees. Further, as a layer 2 network that is compatible with both the TRON and Ethereum protocols, BTTC features full compatibility with EVM, which means all EVM developers are allowed to easily migrate their Ethereum-based applications fully onto BitTorrent Chain, providing superior scalability for the Ethereum network. TRON will also invest $1 billion to spur the migration of projects from Ethereum onto BTTC.

It is the inherent value of BTTC that has aroused global attention and profound interest. The arrival of BTTC is not only significant for TRON's ecosystem and the blockchain industry, but is also epoch-making for the global financial sector.

For TRON: As a pioneer in the global public chain race, TRON has built a full-fledged ecosystem that covers DeFi, NFT, stablecoin, decentralized storage, among many others, and has also delivered a leading-edge global settlement layer. The launch of BTTC marks another milestone for the TRON ecosystem and also TRON's first step towards an era of connecting all chains, and will further unleash the potential of TRON.

For the blockchain sector: Despite that the blockchain industry is in rapid expansion with new public chains springing up, most of these projects fail to be interconnected owing to incompatible technologies, ecosystems, and competition, which leads to the isolation of users, assets, applications, and data, altogether curbing the growth of the industry as a whole. This is when BTTC comes into play. By connecting mainstream public chains such as TRON, Ethereum, BSC, Heco, and OEC, it breaks down the information and asset barriers among them to enable a smooth exchange of data and value, thus mitigating the "data isolation" among different chains.

For the global financial world: In the wake of the Covid-19 pandemic, digitalization has swept the global financial sector, urging countries to embrace the digital transition of their economy and financial market. The advent of BTTC has provided a cross-chain solution and a new form of finance, which will spur financial changes in the digital era.

And there's much more that BTTC can offer. According to the open letter by Justin Sun to the community, the upcoming BTTC will provide a cross-chain scaling solution for global mainstream blockchains, and more importantly, deliver heterogeneous cross-chain communication that is decentralized and zero-trust, ushering in a new era of "connecting all chains".

As BTTC arrives, TRON will see the emergence of a closed-loop ecosystem of layer 1 and 2 networks with sound cross-chain connectivity. By integrating both a robust underlying network of Global Human Settlement Layer and a heterogeneous, scalable cross-chain network BitTorrent Chain that features high throughput and full compatibility with EVM, TRON will enable smooth communication with the world's top layer 1 networks such as Ethereum and BSC.

As a vital tool that enables the interconnection of assets across heterogeneous chains, BTTC is poised to power the growth of TRON, an established public chain, and may even change the dynamics of the blockchain landscape and spur a new wave of changes across the global financial industry.