BitTorrent (BTT) – a TRC-10 utility token – will launch the mainnet of the BitTorrent Chain (BTTC) on December 12th. The minutes announced in a tweet:

????#BTTC Mainnet and #BTT The renaming plan will be published on December 12, 2021!

????While maintaining the current market capitalization, old BTT tokens will be converted and exchanged for the new ones at a ratio of 1: 1000. The total supply is increased to 990,000,000,000,000. pic.twitter.com/HGLCFM7KXr

– BitTorrent Inc. (@BitTorrent) December 6, 2021

“The BTTC mainnet and the BTT recalibration plan will start on December 12th, 2021. While maintaining the current market capitalization, old BTT tokens are recalibrated and exchanged for new tokens at a ratio of 1: 1000. The total supply will increase to 99,000,000,000,000. “

Start mainnet

BitTorrent is a peer-to-peer file sharing protocol that has been around since 2001. Rainberry – the developers behind BitTorrent – launched BTT in February 2019, which supports several blockchain dapps and other BitTorrent functions. These include BitTorrent Speed, BitTorrent File System, DLive, and others.

TRON and BitTorrent announced BitTorrent Chain early last month, marking the first entry of any network into the cross-chain arena.

BTTC is an EVM-compatible interoperability protocol that is based on TRON. It will enable the transfer of assets between TRON, Ethereum and Binance Smart Chain (BSC). It will also work with a Proof-of-Stake (PoS) consensus mechanism confirmed by various “Super Representatives” who have deployed a required number of tokens.

While BTT is currently operated as a TRC-10 token, it is being dismantled as a TRC-20 token on TRON and assigned to the BTTC mainnet.

The price of BTT is skyrocketing

Such announcements tend to give price momentum a boost, and BTT is no exception as it rallies sharply when the news is released. The price hovered at a low of $ 0.0023 and jumped 50% to an intraday high of $ 0.0035, creating a long green candle on the 1D chart.

Market capitalization also jumped from $ 2.2 billion to a high of $ 3.2 billion just 2 hours after the announcement. That comes after another strong rally from $ 1.6 billion to $ 2.2 billion in just minutes yesterday.

Source: TradingView

At the time of writing, BTT is hovering around $ 0.0032 and has sustained a 36% gain over the past 24 hours.

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Annie

According to Cryptopotato

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