Recently, CryptoRank released the "BitTorrent Chain Development Report for the First Half of 2024", which details how BTTC plays a key infrastructure role in the BitTorrent ecosystem. The report focuses on the functions and performance of BTTC, as well as its important contribution to BitTorrent products.

The report details the various uses of BTT, including paying gas fees, accelerating file distribution, rewarding validators, paying BTFS storage fees, and purchasing BitTorrent X services. In addition, BTT can also be used as collateral for JustLend DAO, a permanent asset for the SUN platform, and even as legal tender in Dominica. The report points out that despite a slight decline in BTT market share, BitTorrent still maintains its importance with more than 170 million active users and considerable annual revenue.

The report highlights BitTorrent’s continued adaptation to market changes by integrating streaming services and exploring new use cases for BTT and BTTC. The report states that in the first half of 2024, BitTorrent reached several important milestones, including listings on Bitfinex, Mercado Bitcoin, and Bitci Borsa, official cooperation with HTX DAO, and integration with DEXTools.

The report also mentioned that TRON previously released a second-layer solution and roadmap for Bitcoin, in which BTTC is expected to play a key role. This solution may take advantage of the DePIN trend and integrate Bitcoin into BTTC, thereby injecting a lot of liquidity and attracting new users.

Finally, the report pointed out that as a powerful cross-chain blockchain solution, BTTC provides Web3 developers with a faster, cheaper, and more scalable platform, enabling users to seamlessly transfer mainstream assets between TRON, Ethereum, and BNB Chain, and BTTC will be compatible with more public chains in the future.

Report link:

https://cryptorank.io/insights/research/state-of-bittorrent-chain-h-1-2024