I. What is BitTorrent-New?
On a peer-to-peer network, BitTorrent is a platform that enables the exchange of data and resources (P2P). The ecosystem’s tokenomics system, which is based on the TRON blockchain, enables content producers and consumers to interact with one another over the BitTorrent protocol. It is well known that BitTorrent can connect to a peer-to-peer network and serve 100 million consumers.
II. History of BitTorrent-New
Bram Cohen and Ashwin Navin created BitTorrent as an independent business on September 22, 2014. TRON, though, bought BitTorrent in 2018. Under the young leadership of TRON’s founder Justin Sun, BitTorrent has undergone significant development.
Other bright and seasoned teams, in addition to the young millionaire Justin Sun, have contributed to BitTorrent’s ability to “transform flesh.” For instance, Justin Knoll, who has extensive expertise and is primarily in charge of initiatives and product promotion Marcus Zhao, who used to be a well-known expert at Alibaba, is in charge of public chain management.
III. Striking Features of BitTorrent-New
Features of BitTorrent
Despite having more than 100 million users, BitTorrent is not a blockchain in the first place. BitTorrent becomes more than just an application when blockchain technology is applied since it is an ecosystem supported by the tokenomics market. BitTorrent Speed, BTT Token, and BTT Operations are all parts of the BitTorrent ecosystem.
BTT token’s function
- When you wish to download data quickly, use it as a cost.
- Use as a suggestion for users who find intriguing livestream broadcasts and wish to support them.
- a method of payment for digital material purchases or downloads (digital assets).
- Raise money for BTT token holders as support, a reward, or as an airdrop.
IV. Core Technology of BitTorrent-New
This exchange will be done through a bid system based on the barter economy that already exists on top of the BitTorrent protocol. When BitTorrent Speed is integrated with BitTorrent and μTorrent clients, users will announce the pool and trading offer of BTT tokens instead of priority access for both counties.
- “Priority” here refers to the preferential treatment given to specific users by the so-called strangulation mechanism controlling equal solutions and shared resources within the same pool. This mechanism is the basis of the “tit-for-tat” sharing algorithm that BitTorrent clients designate peers as “suffocated” or “unmarked”. Note that only people of the same rank who have not been selected can receive data from other clients.
- In addition to promoting seed survival in a swarm, the use of BTT in conjunction with the suffocation mechanism is said to ensure more optimal download speeds and easier distribution of content based on volume. collaborative users.
- The number of active BTTs with “market entrance” on the system can use the owner’s speed and download. At the same time, peers need a service provider to be replaced by BTT or vice versa, since they provide local resources.
- Before determining the initial bid, the service requester will be invited to deploy the amount to provide and validate proof of the BTT balance they hold between themselves and the buyer/seller of the service.
How does BitTorrent and TRON hybrid protocol work?
From a technology perspective, the BTT token aims to combine the power of two key solutions found at its core:
- BitTorrent Protocol (BT) and
- TRON, note that the token itself is based on the TRC-10 token.
Peer-to-peer (P2P) technology is what connects these two technologies together
P2P is the core of BitTorrent’s file sharing system. Therefore, it is a popular platform for electronic distribution of data and documents over the Internet. Depending on the location, it is said that P2P networks account for between 43% and 70% of all Internet traffic overall.
Thereby BitTorrent has proven to be the platform of choice for distributing larger files (TV shows, movies, photos, audio files, games, etc.).
V. What is BTT?
1. Detailed Information about BTT
Here are the cases where BTT tokens can be used.
- A developer releases, introduces a new application or service in the BitTorrent ecosystem.
- Users use it as a means of payment when they want to buy or download digital assets and contents from the system.
- Users can completely use BTT to download data faster.
- Use as a bonus to support livestream videos.
- Raise funds as a morale booster for content creators.
- Used as a bonus for seeders when they actively contribute to the development of the system by seeding, sharing with the community.
- Use as a means of monthly recurring Airdrop for BTT token holders.
Detailed information about BTT token
Token name: BitTorrent token
- Ticker: BTT
- Blockchain: TRON blockchain platform
- Issuer: TF5Bn4cJCT6GVeUgyCN4rBhDg42KBrpAjg
- Precision: 6
- Token standard: TRC-10
- Token type: Utility token
- Total supply: 990,000,000,000 BTT
- Circulating supply: 929,275.16B BTT
2. BTT Allocation
- Public sale: 6%
- Private sale: 2%
- Seed round: 9%
- TRON airdrop: 10,1%
- BitTorrent protocol airdrop: 10%
- Team, the BitTorrent foundation: 19%
- TRON foundation: 20%
- BitTorrent ecosystem: 19,9%
- Partnership: 4%
3. BTT Noticeable Milestones
BitTorrent project development roadmap
- Implement client side API.
- Implement wallet/bidding engine API.
- Create a WIN32 “Shell” application.
- Build Win32 Application in Jenkins w/ Unit Tests.
- Build BTInstaller.
- Initial onboard features and navigation items in torrent client.
- Generate an ECDSA secp256k1 key pair for the ledger address/account.
- Create a basic wallet interface that displays balance information.
- Issue TRC-10 BTT tokens.
- Share the Wallet UI for the test team.
- Complete swarm analysis framework.
- Complete on-chain/off-chain transaction server development.
- Completing the Wallet UI launch for the stable client.
- Expose Wallet with on-chain/off-chain trading for an early access pool
- Complete BTT airdrop for BitTorrent protocol with over 100 million users.
- Conduct internal testing of BitTorrent livestream platform.
- Create new function utorrent Web, can choose download folder when adding torrent to uTorrent Web.
- Publish BEP related to BTT and token of BitTorrent protocol.
- Added wallet support for TRX and any TRC-10 or TRC-20 tokens.
- Launch of BLive beta.
- Launching utorrent for MAC users.
- Launching live stream application testnet (internal).
- Released BitTorrent Speed v2.2.1.
- BitTorrent Speed added to uTorrent Windows Client (for new installations).
- Update BTFS.
4. Use Cases of BTT
- Costs associated with fast data downloads
- Giving money to support the livestream streams you want to watch
- You must pay to download or purchase digital materials (digital assets)
- raising money to help content producers
- paying holders of Airdrop on a monthly basis
- In appreciation for seeders’ contributions to the system by providing seeds or donating bandwidth to the neighborhood
VI. How to earn & own BTT?
Bittorrent (BTT) is currently available on the following exchanges:
Binance – Best for Vietnam, Australia, Canada, Singapore and most of the world. US residents are prohibited from buying BTT here.
BitPanda is the best option for European residents, they do not accept clients from outside this jurisdiction.
Gate.io was founded in 2013, is one of the reputable exchanges to buy BTT. Best for US residents.
You can buy BTT on Binance with trading pairs BTT/BTC, BTT/ETH, BTT/BNB, BTT/USDT, BTT/BUSD
VII. Which Crypto Wallets are suitable for BTT?
A hardware wallet is the best option if you want to invest a lot of money in BitTorrent (BTT) or if you intend to hold onto this coin for a long time. Your cryptocurrencies are kept offline in “cold storage” via hardware wallets. This tactic prevents cyber dangers from accessing your resources. Exchange wallets include those for TRON, Binance, KuCoin, Houbi, BitMax, and OKEx, among others. BitTorrent is supported by high-end wallets like the Ledger Nano S and Ledger Nano X. (BTT).
VIII. BTT Recent Developments
- Explanation of (Project Token) growths recently
IX. Teams, Funds & Partners of (Project Token)
On September 22, 2014, Bram Cohen and Ashwin Navin founded Bittorrent as a stand-alone business. After operating for a while up until 2018, Bittorrent was formally given to tron, and now Bram Cohen is also quitting the business he founded.
This must also note the remarkable quality of the TRON Coin issuers, particularly the CEO Justin Sun, in helping Bittorrent evolve swiftly and experience outstanding growth. A well-known name in the virtual currency community, Wire is also a co-founder of TRON, the technical underpinning for the blockchain.
Bittorrent has reached milestones of enormous expansion, such as the present, where there are two additional key employees who are not inferior to CEO Justin Sun:
- Justin Knoll currently holds the post of VP of Product Management and has more than 11 years of experience at Bittorrent, including roles as a web technical lead and chief architect designer. In this role, he will be required to give the most actionable viewpoints and work on successfully advertising the product.
- Matthew Zhao Marcus Zhao, formerly a well-known authority on Alibaba’s data collecting, is now in charge of public chain governance.
In addition, there aren’t currently millions of advisors, experts, and engineers. With the support capacity of TRON, committed to bringing Bittorrent to a new level.
2. Investment Funds
X. Where can BTT information be updated?
Currently, Crypto users can fully consult, research, and analyze information about BTT through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc
These media are constantly updated with useful information, new activities, outstanding events of BTT, and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
XI. FAQs about BitTorrent-New
- Is BTT and BTTC the same?
The old TRC10 BTT tokens will now be known as BTTOLD, while the new TRC20 BTT tokens on the TRON network will be called BTT (or BTTC in Binance). Please read this Medium article on the BitTorrent Chain announcement from BitTorrent Inc. to understand more about the BTT migration.
- Where can I buy new BitTorrent?
Where is BitTorrent (BTT) sold? On significant exchanges, BTT can be exchanged for cryptocurrencies, stablecoins, and even fiat money. These include OKEx, Huobi Global, and Binance. Read CoinMarketCap’s simple guide to learn more about purchasing Bitcoin (BTC) or any other cryptocurrency.
- Is BitTorrent a good coin to invest in?
According to BitTorrent token price prediction, it is a good investment.
The perfect torrent marketplace for blockchain integration. The essence of decentralization was born and realized long before Bitcoin was even established. At the same time, the remaining functions of the blockchain are outside the scope of file sharing. A new token has also been created, which includes an interesting reward system and other things. These are the great advantages of BitTorrent. However, this project also has some disadvantages. Firstly, the connection between users has not been maintained long enough, which does not allow discussions to take place quickly and stably. Second, groups completely forget about Bleep messenger when updating BitTorrent. On the BitTorrent forums, users have repeatedly requested a return to the more secure decentralized messaging program.
BitTorrent is considered a potential project and is backed by young billionaire Justin Sun. Besides studying the project thoroughly, analyzing price action, investors must also adhere to the discipline as well as trading principles, to ensure the investment is successful. The article on Meta Lion Venture shared an overview and details about the BitTorrent project as well as the BTT token.
The above is Meta Lion’s comment on the BTT project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.