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What is BitTorrent Token (BTT) and how does it work?

by Financial Economy

BitTorrent Token (BTT) is the native virtual currency of BitTorrent, a popular peer-to-peer (P2P) file sharing protocol. Working in integration with BitTorrent, the peer-to-peer file sharing protocol that became operational in 2001, BTT can be used for faster file transfer. BTT, which can be used to increase the download speed of files shared on a peer-to-peer network, can also be earned in exchange for sharing (seed) downloaded files to other users. Detailed information about what BitTorrent Token (BTT) is and how it works is in the continuation of the article. For information about Decred coin (DCR), you can check here.

What is BitTorrent Token (BTT) and how does it work?

One of the world’s largest file-sharing protocol BitTorrent has recently launched its own cryptocurrency in partnership with TRON and launched the BitTorrent Token (BTT). BTT is a TRC-10 token built on the TRON platform. It is designed to work integrated with the BitTorrent protocol launched in 2001. BitTorrent is one of the internet’s first decentralized networks and remains one of its most popular, with over 100 million monthly users.

According to BTT’s white paper, BTT’s first major application is to make the file sharing process in BitTorrent more efficient for users. Sharing a file on BitTorrent involves several different peers, each downloading small pieces of a particular file from each other. Users (which is the exact copy of the file) are called seeds.

How to buy BitTorrent Coin (BTT)?

Developed by Brad Cohen and David Harrison, BitTorrent became the company in 2004. In 2018, it was purchased by Tron company, owned by Justin Sun, one of the familiar faces of the cryptocurrency ecosystem.

BTT, implemented on the Tron blockchain network, has the TRC-10 standard. Leading centralized crypto currency exchanges can be used to purchase BitTorrent Tokens.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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