BitTorrent — a popular peer-to-peer (P2P) file sharing and torrenting platform that has become increasingly decentralized in recent years.
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Description of the BitTorrent platform
The BitTorrent protocol, developed by BitTorrent Inc., makes it easy to share files between untrusted parties. The fundamental flaw of the protocol is that the partnership between the parties, using it, cannot last indefinitely, which stifles the exchange. Cooperation between untrustworthy parties can last much longer thanks to blockchain technology.
In July 2018, BitTorrent was bought by the TRON blockchain platform. According to official literature, BitTorrent is currently "the largest decentralized P2P communication protocol" in the world. Since its acquisition, the project has added various new tools, including a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON's own blockchain, using the TRC-10 standard.
Project features
Due to the imbalance in download/upload speed, files often finish downloading before the peer can download the equivalent number of bytes. The innovation is essentially an overlay on top of an existing protocol that will allow existing members of a BitTorrent swarm to exchange tokens in exchange for making a file available for download.
Interesting features:
| BitTоrrent Speed | BTT allows users to pay others for faster downloads with BitTorrent Speed. |
| Community | The project wants to increase the number of participants, whether they are service customers, service providers, or both, by creating a system for storing and exchanging values. |
BitTorrent has also branched out into paid services, offering several "premium" versions of its platform that include VPN capabilities and ad-free browsing.
Where can I buy a token?
You can exchange BTT for cryptocurrencies, stablecoins and even fiat currencies on major exchanges:
- Binance
- Huobi Global
- OKEx
The total supply, as stated in the White paper, is 990 billion BTT. In addition, you can also purchase BTT coins on the website of the Tron payment system. The algorithm for the sale and transfer of coins is also no different from the sale and exchange of other coins. The BitTorrent team is improving the functionality of the product, which could drive up the price of BTT.