published on 02/19/2024 at 07:00 from Tron DAO

TRON DAO Unveils Bitcoin Layer 2 Solution Roadmap

Tron DAO
TRON DAO Unveils Bitcoin Layer 2 Solution Roadmap

19-Feb-2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

NEWS RELEASE BY TRON DAO

Geneva, Switzerland | February 17, 2024 01:51 PM Eastern Standard Time

Geneva, Switzerland, February 17, 2024 - TRON DAO, the decentralized autonomous organization (DAO) behind the TRON network—a powerhouse in the blockchain world with over 210 million user accounts and more than 7 billion transactions—unveils its roadmap for building an innovative Bitcoin Layer 2 solution. This solution will revolutionize how we think about blockchain interoperability and using stablecoins within the Bitcoin ecosystem.

The TRON network is a leading blockchain in the world of stablecoins and decentralized finance (DeFi), commanding an impressive stablecoin market cap of $55 billion and a Total Value Locked (TVL) of $22 billion. This integration will link the TRON network directly with Bitcoin, allowing access to over $55 billion in value to the network, thereby injecting more financial accessibility into Bitcoin and its Layer 2s, like Ordinals. The TRON DAO will venture further into Ordinals and other Bitcoin Layer 2 solutions. Plans are in place to introduce a user-friendly wallet and an array of tools designed to support BRC-20 tokens.

Strategic Roadmap Unfolds

Stage 1 - α: Expanding Bitcoin Interoperability with Cross-Chain Technology

TRON has already facilitated Bitcoin's accessibility through cross-chain connections via exchanges, enabling the seamless transfer of value. This stage will introduce TRON ecosystem tokens, including USDT-Trc20, TRX, BTT, JST, SUN, NFT, WIN, and USDC-Trc20, into the Bitcoin network through breakthrough cross-chain technology, fostering an environment for more advanced interoperability.

Stage 2 - β: Growing Collaborations Between TRON and Bitcoin Layer 2 Ecosystems

TRON will start forming alliances with multiple Bitcoin Layer 2 protocols, unveiling substantial partnerships that will encourage TRON users to partake in re-staking initiatives and contribute to the prosperity of the Bitcoin Layer 2 ecosystem.

Stage 3 - γ: Unveiling a Unified Layer 2 Solution for Blockchain Efficiency

The conclusion of this roadmap will feature the public launch of a Layer 2 solution that synergizes TRON, BTTC, and the Bitcoin network. The high-level goal of this solution is to incorporate the low fees of Proof of Stake (PoS) systems with the security of Proof of Work (PoW) and Unspent Transaction Output (UTXO) systems, aligning with Bitcoin Layer 2 to usher in a new era of blockchain efficiency.

Wrapping It All Up

The launch of TRON's Bitcoin Layer 2 solution, combined with its venture into other Bitcoin Layer 2 protocols and the development of new user-centric tools, marks the beginning of a unified blockchain future. TRON DAO's initiatives aim to enhance blockchain technologies' usability, scalability, and interoperability, paving the way for a more integrated and efficient digital asset ecosystem. Join TRON on this transformative journey as they make Bitcoin fun again!

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of January 2023, it has over 205.11 million total user accounts on the blockchain, more than 6.96 billion total transactions, and over $20.43 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.