Get Ready! Crypto BitTorrent Token (BTT) Will Launch Mainnet And Redenomination On December 12

Bittorrent to launch mainnet and implement token redenomination (Bitcoinminer)

JAKARTA – Crypto BitTorrent (BTT) is reported to be launching its mainnet on December 12. In addition, the BTT developer also plans to redenomination the token into even smaller fractions with a ratio of 1:1,000.

BitTorrent announced the plan via a Twitter post. The decision to redenomination means that the total supply of BTT will be increased from the current total supply of BTT to 990,000,000,000,000.

“#BTTC Mainnet and #BTT Redenomination Plan to be launched on December 12, 2021!” wrote the BTT party via tweet.

📅#BTTC Mainnet and #BTT Redenomination Plan will be launched on Dec 12, 2021!

📌While maintaining current market cap, old BTT tokens will be redenominated and swapped with the new at a ratio of 1:1000. The total supply will be increased to 990,000,000,000,000. pic.twitter.com/HGLCFM7KXr

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

Quoting Cryptopotato, BitTorrent is a peer-to-peer file-sharing protocol that has been around since 2001. Rainberry – the developer behind BitTorrent – ​​launched BTT in February 2019, which supports various blockchain dApps and other BitTorrent features. These include BitTorrent Speed, BitTorrent File System, DLive, and more.

Previously, TRON and BitTorrent had announced the launch of BitTorrent Chain at the beginning of last month which marked the first entry into cross-chain. BTTC is an EVM compatible interoperability protocol built on top of TRON. This will enable asset transfers between TRON, Ethereum, and the Binance Smart Chain (BSC).

BTTC will also operate using a Proof of Stake (PoS) consensus mechanism, validated by various “Super Representatives” locking in the required number of tokens.

“While maintaining the current market cap, the old BTT tokens will be denominated and exchanged for new ones at a ratio of 1:1000. The total supply will be increased to 990,000,000,000,000. ”

While BTT currently operates as a TRC-10 token, it will be reorganized as a TRC-20 token on the TRON network, and mapped to the main BTTC network. With this announcement, the price of the cryptocurrency BTT skyrocketed.

Data report from Coingecko shows that the price of the cryptocurrency BTT rose by 35.5 percent in the last 24 hours. A few days earlier the price of BTT tokens was traded at the level of Rp33 to Rp35. At the time of writing, the price of BTT was trading at the level of Rp48.