BitTorrent
What is BitTorrent (BTT)?
To understand this cryptocurrency, we first need to describe what BitTorrent is. BitTorrent was created by Bram Cohen in 2001 as a peer-to-peer networking protocol for transferring large files over the Internet. The working client of this systеm is called μTorrent or Torrent Classic. More than 150 million people around the world use the services of this systеm.
In 2018, the startup Tron Foundation bought the BitTorrent project for $140 million. The founder of the Tron Foundation said that this purchase is the first stage of their Project Atlas project, in which the creators of the project are going to:
- Use a mechanism in BitTorrent to keep users within the network and thus encourage them to increase the speed of uploading and downloading torrent files.
- Build a separate service for storing files on a paid basis. The files will be stored on conventional memory storage devices (HDD, SSD). Both storage of files and their distribution will be carried out thanks to the peer-to-peer communication protocol (peer-to-peer).
- Make a service for trading content in the network of a torrent tracker. This can be either a one-time purchase of content or a subscription to it.
This entire network needs BTT to function and maintain. This cryptocurrency should push users to perform useful actions on the network. The BTT coin works on the basis of the TRC-10 token on top of the Tron blockchain.
How does BitTorrent work? The user downloads the file to their PC and then uploads it to the BitTorrent network. This file is split into many small parts. Each user downloads one such small piece and then distributes it to other users. Such pieces of files are constantly exchanged between users directly without the participation of the server. And in this case, the speed of downloading and distributing files, and hence the quality of the service, directly depends on the users themselves.
BitTorrent Mining
The BitTorrent platform bases its protocol on the Delegated Proof-of-Stake algorithm. Therefore, it is impossible to mine BTT in the traditional sense of the word, as is the case with Bitcoin. But it can be staked. You can read more about this on the official website of the project.
How do I get BitTorrent?
You can buy BTT on one of the crypto exchanges where this cryptocurrency is traded or through a crypto exchange such as Leoexchanger!
BitTorrent Price Trend (USD)
As of October 2022, 1 BTT is worth approximately $0.0000007682. The total market capitalization is $724,543,421.
The price movement chart is shown below:
How to store BitTorrent?
To store BitTorrent (BTT) cryptocurrency, it is best to use a crypto wallet. When choosing a wallet, learn about its reliability, ease of use, and also study the experience of other users.
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