Peer-to-peer torrent consumer BitTorrent has launched a native token, BitTorrent (BTT), based on the TRON protocol, as per a announcement shared with Top Market Group January. 3.
The token will be exchanged between users to optimize their network speed and attain quicker downloads, as per the press release. BitTorrent’s 1st full-fledged move to start to tokenize its content sharing ecosystem — that reportedly serves over 100 million users — comes around six months once the firm was acquired by decentralized internet startup TRON for an undisclosed price.
BTT tokens, which are to be issued by the BitTorrent Foundation, feature native TRC-10 compatibility — which means they adhere to a technical token standard supported by the TRON blockchain.
BTT will reportedly be solely available to non-United States accounts on crypto exchange Binance’s “Launchpad” program, and can even be distributed “selectively” via airdrops later this month.
According to the press release, BTT is a component of a broader ambition to create a decentralized content distribution platform using cryptocurrency. BitTorrent claims that its protocol — 1st created in 2004 — is presently “the largest decentralized P2P network within the world, driving 22 of upstream and 3 of downstream traffic globally.”
The announcement outlines that BTT tokens can 1st be implemented on BitTorrent’s Windows-based “µTorrent Classic” client — reportedly the company’s most popular application.
As previously reported, the roadmap for TRON and BitTorrent’s mutual integration has been formalized as an initiative dubbed “Project Atlas.” once the pair 1st disclosed additional intensive details of their joint plans in Sep, they discovered that tokens in the ecosystem would be used as incentives.
As of press time, TRON (TRX) is ranked as the tenth largest cryptocurrency by market cap, and is trading at around $0.02, up 4.29 % on the day, as per Top Market Group information.
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