How does the BitTorrent blockchain work? 👁️🗨️
The BTTC architecture consists of three layers that perform its core function of linking assets across blockchains: root contracts, validators, and the BitTorrent blockchain layer.
Root Contract Layer: Consists of smart contracts used for tasks such as staking, token matching, and transaction funding on the main Tron and Ethereum blockchains.
Validator Layer: Validates BTTC blocks, listens for, and broadcasts events across blockchains.
BTTC Layer: The core block production layer that enables fast, cheap transactions and maintains matched assets from the root contract layer.
Here’s an example of how it works for a user to transfer Ether from the Ethereum blockchain to the BTTC blockchain:
The user deposits cryptocurrency into the BTTC smart contract at the root contract layer.
Once the funds are deposited, the transaction is initiated and broadcast to the validator layer.
Once this transaction is confirmed, the BTTC core layer issues the corresponding amount of ETH on the BTTC blockchain.
When the asset moves back in the opposite direction, the BTTC-ETH token is burned before the original ETH is issued on the Ethereum blockchain.
This functionality, when combined with decentralized applications, has many use cases, including decentralized exchanges (DEX), decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs).
Note: In 2018, Tron founder Justin Sun bought BitTorrent for $120 million, and the project continues to serve 100 million users worldwide.