It supports the seamless transfer of assets between multiple chains at a low cost, such as Ethereum, Binance Smart Chain (BSC), and of course, Tron. It is the world’s first heterogeneous cross-chain interoperability protocol, and runs on the proof of stake (PoS) mechanism, using sidechains for scaling of smart contracts. BitTorrent employs an on-chain/off-chain approach in which all BTT transactions are first made in a private ledger then transferred to be recorded on Tron’s blockchain which ensures transparency and accountability.īitTorrent has also launched its own blockchain in December 2021, the BitTorrent Chain (BTTC). Since Tron is already a decentralized peer-to-peer payment platform, BTT will be the currency used to facilitate micropayments on BitTorrent. That said, BTT seeks to improve BitTorrent's distributed network by providing the incentives necessary to increase efficiency. However, since users may receive a single file from multiple providers, there’s the challenge of server and network congestion. As an internet communication protocol, BitTorrent uses its software to allow the distribution of large files such as movies, videos, games and other digital content by allowing users to download them as small files. How Does BitTorrent Token Work?īTT tokens work by merging the P2P file-sharing solutions provided by BitTorrent as a protocol, and Tron as a TRC-20 token. ![]() Ultimately, this significant traffic from BitTorrent will help Tron’s scalability in using BTT tokens. The BitTorrent P2P platform has millions of active users who are ripe for using the decentralized services provided by the Tron ecosystem. The strategic merger between Tron and BitTorrent’s file sharing Protocol via BTT will also assist the mass adoption of blockchain. Tron’s delegated proof of stake (DPoS) consensus mechanism and peer-to-peer (P2P) technology provide the requisite infrastructure to do exactly that. The BitTorrent team believes that blockchain technology will facilitate a decentralized torrent platform that provides a bridge between content creators and viewers, without the need for intermediaries.įurther, the use of BTT cryptocurrency resonates with the torrenting community’s need for uncensored sharing of content in an open and rewarding way. What Is BitTorrent Token (BTT)?īitTorrent Token (BTT) is a TRC-20 utility token built on the Tron blockchain, designed to integrate Web 3.0 technology into torrenting. Will the use of the BTT token be the magic that transforms BitTorrent into a money mint? Let’s find out. Let’s explore how shifting from traditional file storage systems to blockchain has been for BitTorrent. Following the multi-million dollar acquisition, Tron introduced BitTorrent Token (BTT) in 2019, which was a cryptocurrency designed to provide incentives to torrenting network users. ![]() In 2018, the Tron Foundation - led by its founder, Justin Sun - acquired BitTorrent with the vision of decentralizing its services. Despite its game-changing technology, there seemed to be no viable business model to turn the innovation into a money-making enterprise. However, despite ruling the internet world, BitTorrent faced serious challenges such as increased piracy, privacy breaches, content unavailability and slow internet speeds that led to inconsistencies when downloading.Īdditionally, BitTorrent faced serious challenges in monetizing the platform. By 2005, studies showed that BitTorrent led the P2P platforms which accounted for over 70% of internet traffic at the time. Unlike other internet protocols at the time, BitTorrent had faster transmission rates and permitted the simultaneous downloading of files. Created in 2001 by American programmer Bram Cohen, BitTorrent allowed the peer-to-peer sharing and downloading of large files on the web. Before Netflix, Hulu and Amazon Prime Video ruled the entertainment space, there was BitTorrent.
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