What is BitTorrent (BTT)?
Bittorrent was originally launched on September 22, 2004 and was later acquired by Justin Sun, the founder of Tron. Bittorrent was later transferred to the BitTorrent Foundation, based in Singapore.
The BitTorrent token is a TRC-10 token launched on the Binance launchpad under the ticker symbol BTT .
BitTorrent is a P2P file sharing network. The BTT token was only integrated into the BitTorrent network after the BitTorrent Foundation was acquired by the Tron Foundation. The project that led to the introduction of BTT tokens on BitTorrent networks was known as Project Atlas.
So what is the success of the BitTorrent network? In its white paper, the BitTorrent Foundation announced that there are 100 million active users. It also claimed to be the largest decentralized protocol in the world, surpassing Bitcoin.
What problem is solved by BitTorrent (BTT)?
The Internet is based on a decentralized architecture that is not controlled by a central government. Instead, the parallel systems work in tandem with each other.
The number of internet users has grown exponentially since the day the internet became available to the public. The 6th. In August 1991, the World Wide Web was made available to the public. In December 1995, the number of Internet users was 16 million. The number of internet users has increased more than twenty-fold and will reach 360 million by 2020. Today there are more than 4.7 billion users worldwide. Since last year, 900,000 new users are using the Internet every day.
Such a dramatic increase in the number of users could lead to a situation known as Internet congestion, which could theoretically result in billions of dollars in lost revenue worldwide.
BitTorrent provides an efficient way to share files using the decentralized architecture of the Internet. This is one of the most cost-effective options for publishers who want to share large files. The community can also benefit from the BitTorrent network, as content publishers can download large files for a fraction of the cost. As it becomes cheaper to download and distribute content, this leads to lower prices for content. As a result, the municipality is forced to pay less for maintenance.
How does BitTorrent (BTT) work?
Before we get into how BitTorrent works, let’s go over some of the technical terms and processes of the BitTorrent system. On the BitTorrent network, sharing files with strangers is called sharing, while the file the user is sharing is called torrenting.
All computers that store parts of a particular file are grouped together under the common name swarm. Anyone who leaves the system after downloading without participating in the seeding process is part of an activity called leeching, which is considered a selfish activity on the BitTorrent network.
The User Seeding Awards kicked off 2019 with the announcement of BitTorrent Speed. Users seeding will be paid in BTT tokens…..
Since users are rewarded for sending and storing files on the BitTorrent network, this has led to a network effect whereby even more users send and store files on the BitTorrent network. For example, the BitTorrent community has the ability to download large files quickly. The BTT token that users receive from BitTorrent has a market value, and any user who wants fiat currency for seeding can redeem BTT tokens on a crypto-currency exchange like Binance.
For example, if a creative agency that creates video content wants to use BitTorrent to distribute the video, they download the video file onto their computer as a torrent. Since the file is initially stored on the creative agency’s computer, both the computer and the undivided file are called seed.
The file is now divided into small bites or pieces. Those who want to download the file can do so via the BitTorrent client. To download a file, users request it through the BitTorrent client. After a file is requested, the user receives the files in parts, starting with the first part of the video file. Over time, users get the rest of the files stored on other computers. Depending on the popularity of the file, the download can be completed in minutes or hours.
BitTorrent (BTT) Tokenomics
The total stock of BitTorrent tokens is 990 billion. At the time of writing, the outstanding stock of BTT tokens was 659,952,625,000.
20% of TTO transactions go to the TRON fund, while 19% go to the BitTorrent fund and its team. 19.9% of TTO deliveries go to the BitTorrent ecosystem.
10.1% of BitTorrent tokens were distributed through the Tron drop program, and 10% through the BitTorrent drop program. Public offerings account for 17% of the share, and 4% of BitTorrent tokens are still token partnerships.
How to buy BitTorrent (BTT)
Bittorrent (BTT) is available on the following exchanges:
Finance – Use discount code : EE59L0QP for a 10% refund of all transaction fees. Ideal for Australia, Canada, Singapore and most countries in the world. American citizens cannot buy APCs here.
BitPanda is the best option for Europeans, they do not accept clients outside this jurisdiction.
Founded in 2013, Gate.io is one of the most reputable exchanges for TTO purchases. The best for American citizens.
How to save BitTorrent (BTT)
If you want to make a big investment in BitTorrent (BTT) or if you plan to HODL this crypto currency for a long time, a hardware wallet is the best option. Hardware wallets store your crypto currency offline in a cold room. This strategy makes it impossible for online threats to access your inventory. Both the Ledger Nano S and the more advanced Ledger Nano X support BitTorrent (BTT).
BitTorrent – file sharing protocol
The addition of the BTT network was a strategic decision that worked well for the BitTorrent network. This led to more users joining the BitTorrent network and participating in the landing process. The large user base and low cost of sharing large files will ultimately attract the best content creators. When large content creators join the BitTorrent network en masse, it will become even stronger. This will become an option for sharing large files with consumers of content.
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