What is Cryptocurrency BitTorrent (BTT)? Intro to its Features
Binance, the world’s largest cryptocurrency asset exchange, held the token sale for BitTorrent which became a very hot topic in the industry. What kind of cryptocurrency is BitTorrent (BTT)? I will introduce you to its features.
Let’s begin by understanding BitTorrent
BitTorrent is a file sharing service using P2P. The history of BitTorrent is old and the story dates all the way back to 2003. Now it is commonplace to upload and share large files to online services like Dropbox, but in 2003 it was still difficult to upload and share large amounts of data. So at the time, it was a file sharing application using P2P. I even shared files by exposing the file on my hard disk and communicating directly with another user on a peer-to-peer basis.
BitTorrent was developed by Bram Cohen and was released in 2003. It does not need a central server and has a distributed filing system using P2P. BitTorrent’s file sharing system was groundbreaking at the time as it enabled distributing large loads focusing on people with the fastest Internet connection lines. When a user shares a file with BitTorrent, the file is divided into several fragments and the fragments are distributed and stored on the hard disks of users who are running the BitTorrent application on the Internet. People downloading files were then able to gather together files by collecting and downloading fragments distributed over the Internet.
Why did BitTorrent issue a token?
When users download files using BitTorrent, the system automatically switches the user into uploading that same file they just downloaded. The more files you upload, the faster it gets when you download files using BitTorrent. However, many users stopped using the BitTorrent application immediately without having the benefit of increased download speeds. That is because once a user downloads what they want, there is no need to share the file. Therefore, file sharing was not conducted effectively. BTT is trying to solve this problem by creating a situation where users can obtain BTT by switching to the side of uploading. Also as they incorporate these tokens, they are exploring new use cases for BTT.
Usage of BTT
The service that BTT can use is “BitTorrent Speed.” With BitTorrent Speed, paying with BTT will make downloading speeds faster. Even after downloading a file, users can receive BTT incentives. Details may be easier to understand by watching videos on BitTorrent Official Twitter’s tweets.
Have you heard about #BitTorrentSpeed? It’s a game-changing #blockchain based application expected in Q2 of 2019 that will reward BitTorrent users with $BTT in exchange for seeding and bandwidth, increasing the speed of torrent downloads and creating a healthier ecosystem. pic.twitter.com/gmJhyYrEdU
— BitTorrent Inc. (@BitTorrent) 2019年2月1日
BTT is issued using the blockchain of TRON and conforms to the TRC-10 standard.
BTT can stored in the TRON Wallet, Trust Wallet, and Atomic Wallet.
Major cryptocurrency exchanges to buy and sell BTT
Official information of BitTorrent
- BitTorrent Official Website
- BitTorrent Official Twitter
- BitTorrent Official Facebook
- BitTorrent Official Telegram
BitTorrent is a P2P file sharing system that does not require a central server. By issuing the BitTorrent token (BTT), they are trying to solve what has been a problem with BitTorrent so far.