BitTorrent - Decentralized file sharing

BitTorrent (BTT)

What is BitTorrent?

BTT is the token of the BitTorrent ecosystem. This protocol was created in the early 2000s, as a peer-to-peer file sharing system, known as torrenting. In 2018, this system introduced blockchain technology to monetize its user’s activities.

Through the protocol, owners of a file can seed them (allow other users to access them) so leechers (end users of the file) can download them. Leechers can use the BTT token to pay for a faster download, while seeders can get paid for sharing their files.

Why does BitTorrent have value?

While the torrenting community is usually keen to sharing their files, they lack a proper economic incentive to do this. The goal of BTT is to get more users to share their files. Moreover, seeding files in BitTorrent can be a less resource-intensive way to get passive income, opposed to proof of work mining.

What are the Pros of BitTorrent?

● Anyone can participate in the sharing process to earn BTT.

● Torrenting is a wide spread activity around the world, with thousands of people using the BitTorrent protocol.

● User can achieve faster download times by paying BTT and then seed them to recover the investment.

● Owning and sharing popular files can be seen as an investment opportunity.

What are the Cons of BitTorrent?

● Downloading torrent files is punishable by law in many countries, though it can be avoided by using a VPN service.

● Many files are illegally downloaded and that can negatively impact the artist or creator of the content

What are BTT’s tokenomics?

The total supply of BTT is 990 billion. 17% were sold in the ICO and other sales. Around 60% were distributed among the BitTorrent Foundation, the TRON Foundation, and the BitTorrent ecosystem. 20% are reserved for airdrops, which will be released in the next four years.

Who founded BitTorrent?

Bran Cohen founded the original BitTorrent protocol in 2001. In 2018, Justin Sun, founder of TRON, acquired BitTorrent and added the cryptocurrency features.

Who are BitTorrent’s investors?

BitTorrent has conducted 4 sales, one Initial Coin Offering (ICO) and three round series before the TRON acquisition. The ICO raised $7.1 million, while the other rounds garnered $38.8 million.

The top investors are DCM Ventures, DAG Ventures, and Accel in the A, B, and C rounds, and NON-fungible Chan in the ICO

Concise Crypto Grade:

B- :Torrenting has some positive impacts in certain countries allowing residents access to content and educational tools they wouldn’t otherwise have access to. Unfortunately, in many cases torrenting is used to pirate protected content which punishes the artists or content creators especially in the music and film industry. We love the tech but for reasons of pirating we can’t give it an ‘A’ grade.

Where can I buy BTT?

Huobi Global, Binance, Bithumb, KuCoin, Gate.io.

What ecosystem does BTT run on?

Tron