Justin Sun, the founder of TRON, might have seen some hard times lately due to the Poloniex hack, however, he dropped a big announcement in the latest post. He wrote that the protocol powering the world’s largest stablecoin market and decentralized finance (DeFi) Total Value Locked (TVL) will launch the Bitcoin Layer 2 solution. It is expected that this move will eventually help TRX and BTTC to surge ahead.
Justin Sun aims to mix TRON with Bitcoin
Sharing the road map, Justin Sun stated that the approach taken by them aims to decentralize and interconnect various token types within the TRON network. This will also include stablecoins, with the Bitcoin network and its Layer 2s, such as the Bitcoin Ordinals.
According to its stage α, Bitcoin has already been made accessible through cross-chain connections to the TRON network. However, this plan will look for the expansion of Bitcoin network-based assets bridged to TRON.
It holds a list of various TRON tokens, including USDT, TRX, BTT, JST, SUN, NFT, WIN, and USDC. These tokens will be integrated into the BTC network via cross-chain technology, enabling seamless interaction between TRON’s tokens and the Bitcoin network.
The road map includes investments in a user-friendly wallet and tools. TRON will support BRC-20 tokens, marking TRON DAO’s foray into Ordinals and BTC Layer 2 solutions.
Stage β will aim TRON to collaborate with multiple Bitcoin Layer 2 protocols. Justin Sun added that users will be able to participate in restaking initiatives across major L2 networks. This will foster the growth of the BTC L2 ecosystem with TRON’s diverse asset portfolio.
However, Stage γ will be the major milestone in the road map. This will see the announcement of a Layer 2 solution integrating TRON, BTTC, and the Bitcoin network. It is expected that this solution will introduce a protocol compatible with BTC.
What’s up by TRX?
As per the announcement, TRON is aiming to maintain the speed and low fees of POS systems while ensuring the safety of POW & UTXO in conjunction with BTC L2.
On the market side, the BitTorrent Token (BTT), associated with BitTorrent, a peer-to-peer file-sharing platform owned by TRON, recorded a surge of over 12% in the last 24 hours. It is reported that TRON initiated another burn of its TRX token.
Over 170 million TRX tokens have been burned in the past month. This move contributed to a deflationary phase with an annualized rate of decrease of 2.99%. The positive news from TRON has historically impacted BTT positively.
