TRON Announces Roadmap for Layer-2 Development on Bitcoin

According to the announcement on February 15th, TRON founder Justin Sun has unexpectedly revealed a shift towards Bitcoin, unveiling a development roadmap to create a new layer-2 solution for BTC.

The project aims to connect a series of tokens operating within the TRON ecosystem – including USDT, TRX, BTT, JST, SUN, NFT, WIN, and USDC – to Bitcoin, opening up new opportunities for development in both DeFi and Ordinals.

Justin Sun declares that TRON is currently the leading cryptocurrency network in terms of stablecoins, with $55 billion USD in circulating stablecoin supply, coupled with a $22 billion USD TVL in DeFi.

TRON’s layer-2 Bitcoin development roadmap is divided into three phases:

– α (alpha): TRON develops cross-chain bridges to bring assets from TRON to Bitcoin.
– β (beta): TRON will gradually announce partnerships with other layer-2 solutions on Bitcoin, enabling users to participate in restaking activities.
– γ (gamma): TRON introduces a layer-2 integrating TRX and BTC, promising high transaction speeds and low fees characteristic of a Proof of Stake network, while still ensuring the security typical of Proof of Work.

The TRON founder asserts that this roadmap demonstrates the project’s commitment to embracing and driving new blockchain advancements, setting standards for the entire industry.

Since the emergence of Ordinals – Inscription in early 2023, the Bitcoin network has seen a new wave of innovation, with countless applications and functionalities developed over the past year. Following the trends of NFTs and token creation, the next development trend is the construction of layer-2 solutions on Bitcoin, with numerous ambitious projects aiming to achieve this, as compiled by DWF Ventures.

The BTC Layer 2 scene is on the rise!

Despite Ethereum championing Layer 2 for three years with 38 L2s (according to @l2beat), the number of Bitcoin L2s has surged to 25 in less than a year.

Check out the comprehensive list of Bitcoin L2s compiled by the Ventures team below 👇 pic.twitter.com/vWGDP7o0fQ

— DWF Ventures (@DWFVentures) February 7, 2024

In 2023, the TRON network did not see many notable developments aside from continuing to be part of Justin Sun’s ecosystem, comprising TRON and TRX tokens, Poloniex exchange, and HTX exchange (formerly Huobi).

In the past, TRON and Justin Sun have often followed market trends in the cryptocurrency industry, such as establishing a $100 million USD AI fund when the AI wave emerged at the end of 2022, and Huobi announcing its registration in Hong Kong to prepare for the recognition of cryptocurrencies in this economic zone, followed by the announcement of building a layer-2 solution on BitTorrent after Coinbase’s development of Base.

TRX chart after this announcement

The TRX token price has seen a slight increase following Justin Sun’s announcement that TRON will build a layer-2 solution for Bitcoin. TRX has also made an impressive recovery along with the upward trend of Bitcoin since mid-January.

Chart TRX/USDT 1D on TradingView at 03:17 AM on February 16, 2024.

(100 votes)