What is BitTorrent (BTT)

BitTorrent Token (BTT) is the native TRC-10 cryptocurrency of the BitTorrent ecosystem the blockchain-based extension of the world's largest peer-to-peer file-sharing protocol. Acquired by TRON founder Justin Sun in 2018, BitTorrent has been integrated with the TRON blockchain to create a tokenized incentive layer for decentralized content distribution.

WHAT BITTORRENT IS

Before blockchain, BitTorrent was already a groundbreaking technology. Launched in 2001 by Bram Cohen, the BitTorrent protocol enabled peer-to-peer file sharing where files are distributed across thousands of user computers (seeders and peers) rather than stored on central servers. At its peak, BitTorrent accounted for over 30% of global internet traffic.

HOW BTT ADDS BLOCKCHAIN INCENTIVES

In the traditional BitTorrent model, users download files without compensation for uploading (seeding) content to others creating a free-rider problem where seeders gradually decline after initially popular content ages. BitTorrent Token solves this by

allowing: Users to pay BTT to seeders for faster download speeds and priority access. Seeders to earn BTT by sharing bandwidth and storage. Content creators to monetize directly by receiving BTT for their distributed content.

BITTORRENT ECOSYSTEM PRODUCTS

BitTorrent Speed: Integrated into the uTorrent and BitTorrent clients, allowing users to bid BTT for faster downloads.
DLive: A blockchain-based live streaming platform (acquired by BitTorrent in 2020) where creators earn BTT through viewer donations and subscriptions.
BitTorrent File System (BTFS): A distributed file storage system enabling developers to build decentralized applications using BitTorrent's massive existing network.

BTT TOKENOMICSBTT

was initially issued on the TRON blockchain (TRC-10 standard) with a maximum supply of 990 trillion tokens. In 2022, a redenomination increased the total supply to 990 trillion BTT_NEW tokens through a 1:1,000 conversion of the original BTT. The large supply means individual BTT prices are fractions of a cent.

Terms in addition to the BitTorrent (BTT)

Blockchain

A blockchain is a subset of a distributed database. The Bitcoin inventors originally prototyped the system in 2008. This modern database is made up of separate blocks that are connected together in a chronological chain. Blockchains may be used to store a wide range of data types. It has mostly been utilized as a public ledger for bitcoin transactions to date. A peer-to-peer network comprised of independent nodes uses a consensus process to ensure the blockchain's security and legitimacy. Each node in the network keeps a public and immutable copy of the data.

2 Factor Authentication (2FA)

2 Factor Authentication is a security measure with two layers. It is used by the majority of cryptocurrency exchanges. To log in, you must provide not only a password, but also a code obtained, for example, from the Google authenticator.

Airdrop

An airdrop is a method of distributing coins. End users can typically obtain coins for free or in exchange for doing a small task, such as subscribing to a newsletter, sending a tweet, or inviting others via a personal affiliate link. Cryptocurrency airdrops — the act of depositing cryptocurrency into public crypto wallets — are utilized as a marketing, liquidity creation, and network bootstrapping technique for many different types of blockchain initiatives.

Altcoin

Altcoin - "alternative coin" - is any kind of digital currency other than Bitcoin. Since the launch of Bitcoin, the world's first digital currency, many altcoins (as well as supporting blockchains) have been created. Altcoin digital currencies share many similarities to Bitcoin, but consistently and have significant differences. There are about 20,000 altcoins, and this number is expected to grow significantly in the coming years. Altcoins often develop Bitcoin features. Ethereum, currently the most widely used blockchain, supports digital contracts and separate applications where Bitcoin does not. Altcoins are also often created to cater to the needs of different users. The Litecoin blockchain, for example, can process payments quarterly for the duration of Bitcoin.

Cold Storage

Cold storage is the way to store cryptocurrency offline. The word refers to the use of offline wallets that are not connected to the internet. Cold storage is the most secure way to keep cryptocurrencies since an offline currency becomes less likely to be hacked and stolen. Paper wallets, printed renditions of private keys, and offline hardware and software wallets are all examples of cold storage.