BitTorrent has reveled that BitTorrent Mainnet (BTTC) is scheduled to go live on December 12, 2021. According to a blog announcement, the network is going to be the first heterogeneous cross-chain interoperability protocol, which supports Proof-of-Stake mechanism and sidechains for the scaling of smart contracts.
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The project's developers advised cryptocurrency exchanges, wallets, other partners to complete the redenomination and swap old BTT tokens within 30 days (before January 12, 2022). The old tokens will be redenominated and swapped with the new BTT tokens at a ratio of 1:1000, the announcement says.
The total supply of BTT tokens will be increased from 990 billion to 990 trillion. After redenomination, the new tokens will be called BTT and the old ones will be renamed as BTTOLD. The developers note that the both tokens will still coexist for some time after the mainnet launch. Amid the news, BTT pumped by 40% to $0.0033. As of press time, the token is trading at $0.0028 with market capitalization $2.8 billion.
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