{"id":14464,"date":"2022-01-25T12:31:51","date_gmt":"2022-01-25T07:01:51","guid":{"rendered":"https:\/\/zebpay.com\/?p=14464"},"modified":"2022-10-07T09:59:50","modified_gmt":"2022-10-07T09:59:50","slug":"how-zebpay-will-support-btt-redenomination","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/how-zebpay-will-support-btt-redenomination","title":{"rendered":"How ZebPay will support BTT redenomination!&nbsp;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/in\/blog\/how-zebpay-will-support-btt-redenomination\/#With_the_mainnet_going_live_what_happens_next\" title=\"With the mainnet going live, what happens next?\">With the mainnet going live, what happens next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/in\/blog\/how-zebpay-will-support-btt-redenomination\/#Why_is_BitTorrent_redenominating_their_tokens\" title=\"Why is BitTorrent redenominating their tokens?\">Why is BitTorrent redenominating their tokens?<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>The BitTorrent Chain is the world\u2019s first heterogeneous cross-chain interoperability protocol, which adopts PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts.&nbsp;<\/p>\n\n\n\n<p>In simple English, this means that the new BitTorrent chain will be compatible to operate with the public chains of Ethereum, TRON and the Binance Smart Chain. Since most blockchain currently operate in isolation from each other, this is an especially meaningful victory.<\/p>\n\n\n\n<p><a href=\"https:\/\/zebpay.com\/in\/buy-btt\/\">An era of connected chains is now nearly here!<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-with-the-mainnet-going-live-what-happens-next\"><span class=\"ez-toc-section\" id=\"With_the_mainnet_going_live_what_happens_next\"><\/span>With the mainnet going live, what happens next?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As part of the mainnet launch, the supply of BTT tokens available will be altered. While maintaining the current market cap, all current BTT tokens will be redenominated and replaced with new BTTC tokens in the ratio of 1:1000.<\/p>\n\n\n\n<p>This means that <strong>while your total holding value will remain the same<\/strong>, the total supply of BTTC tokens will increase to 990,000,000,000,000. In case you\u2019re wondering, that is nine hundred ninety billion tokens overall.<\/p>\n\n\n\n<p>Here\u2019s how ZebPay will be support the BTTC token redenomination:<\/p>\n\n\n\n<ul><li>Starting immediately, we will rename BitTorrent as BitTorrent (OLD) at all places in the app and web.<\/li><li>&nbsp;Deposits and withdrawals of BTT will be suspended at 12 PM IST, 16th January 2022.<\/li><li>All BTT trading pairs (BTT\/INR, BTT\/USDT) will be delisted at 12 PM IST, 17th January.<\/li><li>Your BTT balance will be recovered, and you will receive the new BTTC token.<\/li><li>The new BTTC token will be distributed in the ratio of 1 BTT (Old) = 1000 BTTC.&nbsp;<\/li><li>Trading will then open for BTTC\/INR and BTTC\/USDT on 21st January&nbsp; at 12 PM IST<\/li><\/ul>\n\n\n\n<p>To start with, the BTTC token will be listed under Xpress Listing. Deposits and withdrawals shall remain disabled.&nbsp;<\/p>\n\n\n\n<p>We will follow up with a separate announcement when the pairs will be converted to full listing and deposits and withdrawals will be enabled.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-why-is-bittorrent-redenominating-their-tokens\"><span class=\"ez-toc-section\" id=\"Why_is_BitTorrent_redenominating_their_tokens\"><\/span>Why is BitTorrent redenominating their tokens?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>BitTorrent is currently the world\u2019s largest decentralized P2P network, with over 90 million using it on a daily basis.&nbsp;<\/p>\n\n\n\n<p>Compare that to an effective supply of only 990 billion tokens currently in circulation.<\/p>\n\n\n\n<p>It became inconvenient for users to keep track of transactions when every value ended in multiple decimal places. Keep in mind that a user mining BTT receives 0.00231 BTT and you can see how this becomes cumbersome.<\/p>\n\n\n\n<p>As the BitTorrent ecosystem continues to diversify, with far more use cases, the team decided it was necessary to redenominate.&nbsp;<\/p>\n\n\n\n<p>You can find more details about the BTTC mainnet launch on BitTorrent\u2019s announcement post <a href=\"https:\/\/medium.com\/@BitTorrent\/launch-of-bttc-mainnet-and-btt-redenomination-plan-2eacfe26d22\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity is-style-dots\"\/>\n","protected":false},"excerpt":{"rendered":"<p>The BitTorrent Chain is the world\u2019s first heterogeneous cross-chain interoperability protocol, which adopts PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts.&nbsp; In simple English, this means that the new BitTorrent chain will be compatible to operate with the public chains of Ethereum, TRON and the Binance Smart Chain. Since most blockchain [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[64],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/14464"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=14464"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/14464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/19757"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=14464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=14464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=14464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}