BitTorrent (cryptocurrency)

2018: Cryptocurrency launch

In early January 2019, the BitTorrent file exchange network, acquired by the cryptocurrency company Tron in August 2018, announced the creation of its own cryptocurrency, which users will be able to buy, sell or exchange in order to speed up the download of files. According to a press release cited by Cointelegraph, the company launches its own BitTorrent token (BTT) based on the TRON protocol.

BitTorrent launched its own cryptocurrency

The new initiative is aimed at combining peer-to-peer file exchange protocols with a decentralized cryptocurrency system based on blockchain. In general, BTT is part of a broader initiative to create a decentralized content distribution platform using cryptocurrency. File sharing technologies, such as BitTorrent, work with the processing power of hundreds of millions of computers connected to the Internet. The new token will allow users of these computers to receive small rewards for their use, and then spend tokens to speed up downloads within the BitTorrent.

BTT is a TRC-10 standard token (similar to ERC-20 tokens based on the Ethereum blockchain), that is, it will comply with the technical standard of tokens supported by the TRON blockchain. Initially, it will be available exclusively for users using the Binance Launchpad exchange program, a service for entrepreneurs interested in collecting financing through tokensails (with the exception of US residents ). In addition, tokens will be randomized distributed through airdrops during January 2019.

First, the BitTorrent token will be implemented in the waveTorrent Classic client for Windows, the most popular BitTorrent application. Clients µTorrent for 100% will be compatible Classic with support of tokens of BitTorrent to other clients supporting the BitTorrent protocol, and users who will want to refuse new function will be able to make it in application controls.^[1]

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