Bitcoin TRC20 (BTCT) is a token that operates on the TRC20 protocol, and is fully supported by Bitcoin (BTC). It is a part of the decentralized digital currency system that uses peer-to-peer technology to function, without the need for a central authority or banks. The management of transactions and the issuance of BTCT is carried out collectively by the network. BTCT is open-source, meaning its design is public, and no one owns or controls it. This allows anyone to participate in its network. The unique properties of BTCT enable it to facilitate uses that were not possible with previous payment systems.

Bitcoin TRC20 operates on a peer-to-peer network, using a system known as proof-of-work to timestamp transactions. This forms a record that cannot be altered without redoing the proof-of-work. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, creating a record that is immutable. The longest chain provides evidence of the sequence of events and its origin from a substantial pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network requires minimal structure, with messages broadcast on a best effort basis, and nodes can leave and rejoin the network at will.

Bitcoin TRC20 aims to provide a solution to the double-spending problem using a peer-to-peer network. It allows online payments to be sent directly from one party to another without the need for a trusted third party. This makes it possible for any two willing parties to transact directly with each other, eliminating the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. This allows BTCT to be used in a variety of transaction types, from large to small scale.

The concept of Bitcoin TRC20 is based on the original Bitcoin white paper by Satoshi Nakamoto, which proposed a solution to the double-spending problem using a peer-to-peer network. This concept was then adapted to create BTCT, a token that operates on the TRC20 protocol and is fully supported by Bitcoin. The reserve addresses for BTCT are published for anyone to audit, providing transparency in the system. Over time, BTCT has become a part of the broader cryptocurrency ecosystem, with its unique properties enabling uses that were not possible with previous payment systems.