One of the criticisms for #BTTC is the maximum supply amount, ~1 quadrillion coins $BTTC , compare with #MANTRA $OM then make sure to reinvest your losses/profits from the mantra, in the project that is The #BitTorrent !!!
Advantages of the BitTorrent Chain Protocol A pioneer in scalable heterogeneous cross-chain interoperability, the BitTorrent Chain protocol has deployed various nodes to validate the transaction of data and files. It supports smart contracts through sidechains, auxiliary blockchains connected to the main one.
There are advantages in this ecosystem. First, the consensus algorithm specific to blockchain ensures scalability. Another positive point is the easy interaction of data and assets in the networks with interoperability, connecting to the Tron blockchain and Ethereum.
Verification done by specialized nodes provides more security and speed to data migration. The speed of transactions involving contracts, protocols, and applications, as well as low fees and instant movement confirmations, contribute to the experiences of both developers and users.
By extending the loan, I am personally absorbing the risk for $500m. But token holders who would otherwise suffer heavy losses have dodged a bullet, and safeguarding the industry from the collateral damage from FDT’s rug pull is the right thing to do.
I am optimistic that justice will be served in due course and look forward to working alongside Johnny Ng, member of Hong Kong Legislative Council, to advocate for more robust trust regulation and better web3 development alike.
A better development of web3 would be with BitTorrent!
Justin Sun孙宇晨
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My decision to save TUSD didn’t come easy.
By extending the loan, I am personally absorbing the risk for $500m. But token holders who would otherwise suffer heavy losses have dodged a bullet, and safeguarding the industry from the collateral damage from FDT’s rug pull is the right thing to do.
I am optimistic that justice will be served in due course and look forward to working alongside Johnny Ng, member of Hong Kong Legislative Council, to advocate for more robust trust regulation and better web3 development alike.
#BitTorrent Chain ($BTTC ) has implemented specific token burn mechanisms to regulate its token supply and potentially enhance the value of remaining tokens. Notable examples include:
Redenomination Burn ➡ As part of the transition from the BTT token to BTTC, BitTorrent conducted a significant token burn, eliminating over 575 billion BTT tokens.
User-Initiated Burns ➡ BTTC has established a system allowing users to voluntarily burn their tokens. Users can send BTT tokens to designated 'Hot Wallets,' which, after a specified waiting period, transfer the tokens to 'Unlimited Black Hole Wallets' for permanent removal. This process is designed to be transparent and orderly, enabling users to participate in reducing the token supply.
These mechanisms demonstrate BTTC's commitment to managing its tokenomics effectively.
$BTTC Long term always working on the side of compound interest. Whoever has compound interest on their side always wins, Traders will not understand only true investors. Success to you investors of the future. Another 1 billion blocked in the long term. More than 200 thousand BTC crypto already received on the first day, what a delight...💗💖💝🤑
When we talk about #BitTorrent and its cryptocurrency, it is essential to understand that we are not dealing with just any coin; it is a project with a solid history and purpose in the world of file sharing.
Inflation Control: The burning of $BTTC could be a strategy to combat inflation. Fewer tokens in circulation could mean an increase in the value of each token, benefiting holders and encouraging staking.
Security and Decentralization: Burning tokens does not necessarily compromise security or decentralization. It can even encourage more participation due to the potential increase in the value of the tokens.
Incentivize Participation: Reducing the supply of $BTTC through burning can motivate more users to actively participate in staking, strengthening the #BitTorrent network.
Long-Term Value: Serious projects like BitTorrent Chain need robust economic strategies. Burning tokens can be part of a plan to ensure long-term sustainability and growth.
More Than Speculation: While some may view the cryptocurrency market as a way to get rich quick, the true value comes from utility and trust in the system. Burning tokens can strengthen that trust.
In short, burning $BTTC is not a mistake if done with strategic vision. It’s about more than just reducing the number of tokens; it’s about building a strong and sustainable ecosystem for the future of #BitTorrent.
When you stake (EARN) #BTTC , your tokens are being used for a variety of functions within the BitTorrent ecosystem:
Transaction Validation: Your locked $BTTC help validate transactions on the BitTorrent Chain (BTTC) network. This is crucial to the security and efficient operation of the blockchain, where validators are rewarded for their work maintaining the network.
Rewards and Fees: By participating in staking, you earn rewards. These rewards can come from a variety of sources, including network transaction fees and staking rewards. For example, during specific campaigns, #Binance offered extremely high APY rates to incentivize staking $BTTC , with rewards distributed to stakers.
Increased Security and Decentralization: Locking $BTTC contributes to the security of the network, making it more decentralized by spreading the validation power among more participants. This helps protect the network against attacks and centralization.
Participation in Events and Promotions: During promotional events, your locked $BTTC may qualify you to participate in giveaways, additional rewards, or other perks offered by the platform you are staking on, such as #Binance .
Therefore, while your #BTTC are locked, they not only generate passive income for you through rewards, but also contribute positively to the functioning, security, and expansion of the BitTorrent Chain ecosystem.