Users in the system are rewarded with BTT tokens to continue sharing their bandwidth, which keeps a seed file running even when a download is complete.īitTorrent employs an on-chain/off-chain approach in which all BTT transactions are first made in a private ledger, and then transferred to be recorded on TRON’s blockchain, which ensures transparency and accountability.īitTorrent also launched its own blockchain, the BitTorrent Chain (BTTC), in December 2021. However, due to discrepancies in the upload and download speeds, most swarms often deteriorate and eventually die.īy leveraging TRON’s peer-to-peer advanced technology, BitTorrent can offer incentives to users through a tokenized bidding system. Originally, BitTorrent was created as a P2P file-sharing protocol with downloaders (commonly called seeders/peers ) and uploaders (content providers) who jointly form a swarm. Even worse, there was no clear way to monetize the platform.įaced with these challenges, the BitTorrent protocol merged with TRON in July 2018 at the cost of approximately $140 million.Įver since, BitTorrent is on track to achieve its vision of decentralizing file sharing and providing internet users with innovative products to stream media in a secure and trustless way.Ĭohen has since moved on to head another of his crypto creations, Chia Network, and left BitTorrent (now known as Rainberry, Inc.) in the hands of Justin Sun, the founder and CEO of the TRON network. By 2005, BitTorrent accounted for 60 percent of the peer-to-peer network.ĭespite its colossal adoption, the BitTorrent protocol faced serious challenges of network congestion, exploding bandwidth needs and censorship laws. īitTorrent was quickly embraced by the masses who used it to download music videos and movies. Frustrated by the slow and inefficient traditional file-sharing system, Cohen created a faster way of downloading files by breaking them into smaller files known as torrents. was founded in 2004 by Bram Cohen, an American computer programmer and tech visionary. Who Is the Founder of BitTorrent?īitTorrent Inc. The network has partnered with popular crypto payment gateway providers such as CoinPayments, Plisio and CoinGate to facilitate the acceptance of BTT payments by merchants. Downloaders can bid for faster speeds using BTT.īTT can also be used to pay for goods and services from online merchants that accept the token. Offering such rewards has helped reduce swarm deaths (torrent without seeders), one of the key challenges facing the BitTorrent protocol before the merger with TRON.Īnother core use case of BTT is to power BitTorrent Speed, a product designed to boost download speeds on the network. On the software itself, BTT incentivizes users to continue seeding even after they’re done downloading. On the BitTorrent Chain (BTTC), a cross-chain interoperability protocol that supports asset transfers across TRON, Ethereum and Binance Smart Chain (now known as BNB Chain), BTT is its native coin used for paying gas fees, staking and governance. Being the unit cryptocurrency of BitTorrent, BTT is denominated in every transaction on the network. What Is BTT Used For?Īs a utility-enabled token, BTT has multiple use cases geared toward a healthier and highly efficient BitTorrent ecosystem. However, as the bear market persists, BTT’s price has yet to fully recover from an all-time low of $0.000000705. Launched through an ICO that sold out within minutes, BTT rose to its highest price of $0.000003054 in January 2022. There’s a total supply of 990 trillion BTT tokens. BTT provides incentives and facilitates low-cost micropayments on the BitTorrent network. What Is BTT?īTT, the native digital currency for the BitTorrent protocol, is a standard TRC-20 utility token built on the TRON blockchain. Such traffic will help in the scalability of TRON, while allowing users to share and store files in a safe and permissionless way. The cryptocurrency was created to leverage the advanced tokenized infrastructure on TRON, as well as empower and incentivize the millions of torrenting users on the BitTorrent protocol.Īs one of the largest P2P networks on the internet today, BitTorrent has over 100 million active users. Designed to integrate blockchain into torrenting, BitTorrent is the largest decentralized peer-to-peer (P2P) communications protocol that allows for file sharing and downloading of large files on the web.īitTorrent merged with TRON in 2018 through a multimillion-dollar deal that led to the launch of the BitTorrent token a year later.
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