Will BTT Token Survive Crypto Bear Market?
Now the question for todays video will the btt token survive the crypto bear market? Well, the quick, simple and easy answer is, and my personal opinion. Yes, i think it will right. So if thats the answer you want it bingo there you go, however, remember only use me as an informational source. Not a financial guide. Now remember that the bittorrent ecosystem has two different btt tokens, the first one, which is the obt token, that supports decentralized storage, which is the main utility for that token, and then you have the new btt token, which is why they did the btt redenomination. This focuses on the cross chain and interoperability from transferring asset from one blockchain to the next at a fast pace and also at an inexpensive cost. Now, if we briefly look at just some of the latest news on the bittorrent chain, they recently just did a cross chain transfer now this does, you know, impact everyone, but it mainly focuses on the investors that is really embedded in the tron ecosystem and the reason Why i say that is, as you can see, we have optimized cross chain transfers for the bittorrent chain. So now what that means is you can now easily transfer the btt token tron nft, which is the ape nft token. The usdd stablecoin win link token on the tron network, the binance smart chain network and the ethereum network right, and so, if youre utilizing, these main tokens, which are these are more of the main tokens of the tron and bittorrent ecosystem.
This really impacts you. However, anyone can use this, and so now real quick just to do a quick recap and a refresher for those that may have forgot in 2018, bittorrent was acquired by the tron foundation and continued to provide support for their bittorrent and utorrent clients. Now, lastly, december, which was 2021 bittorrent, announced that they are launching the first scalable heterogeneous cross chain. Interoperability protocol called the bittorrent chain, and this has resulted in the btt redenomination plan that led to the creation of the bttc, also known as the bittorrent chain, which was the new native token of the bittorrent platform. And you can see here was the redenomination one. Two one thousand and they went from 990 billion to 990 trillion, and this is why you constantly see these on twitter, the uh burn, uh tweets and some people are a little confused and basically, what this mean is. We can see that sixty percent of the obtt tokens are burned and the reason why they say this is burned is because those tokens can never go back to the obt right, and so they are burned because they are now officially the new btt token. And this is why they say they are burned right, but still kind of you know weird in a sense, but right here here are the supported networks, as we can see, of course, bittorrent chain, tron, ethereum and bsc and of course, theres going to be more and So, in a nutshell, will bittorrent survive and, as i mentioned at the very beginning personally, i think it will – and i wanted to show you just a brief uh review on when the bittorrent chain actually launched.
The main net was launched uh in december now. The announcement, i believe, was actually in november in the main net launch in december and so were still not even a full year of the full. You know bittorrent chain in existence. Now, of course, btt has been around a lot longer, but the new token and new protocol bittorrent chain hasnt been around it for a year.