BitTorrent Token (BTT) is a cryptocurrency designed to promote and encourage the use of the BitTorrent protocol, one of the most popular peer-to-peer (P2P) file sharing platforms in the world. Launched in 2019 following TRON’s acquisition of BitTorrent, BitTorrent Token integrates blockchain technology to create a more efficient and rewarding ecosystem for users, content creators, and developers.
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What is BTT?
BTT is a TRC-10 token built on the TRON blockchain. It is used within the BitTorrent ecosystem to facilitate transactions, incentivize participation, and power decentralized applications (dApps) that use the protocol. The token aims to solve the main limitations of the original BitTorrent protocol by providing a strong incentive mechanism.
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How does BTT work?
1. File Sharing Incentives:
BTT allows users to earn tokens by posting files and contributing to the BitTorrent network. This incentivizes more users to share and maintain files, improving the overall health of the ecosystem.
2. Improved download speeds:🤍
Users can pay BTT to prioritize their downloads, and get faster download speeds by encouraging more resellers to share file parts.
3. Running decentralized applications:
BTT technology is used to power decentralized applications such as BitTorrent Speed, BTFS (BitTorrent File System), and BitTorrent Live. These decentralized applications expand the use cases of the BitTorrent protocol beyond file sharing.
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The basic components of the BTT ecosystem
1. BitTorrent Speed:
- A feature built into the BitTorrent client that rewards users with BTT for downloading files.
- Users can spend BTT to boost their download speed.
- Encourages the creation of a more robust and active file sharing network.
2. BitTorrent File System (BTFS):
- A decentralized storage platform that uses blockchain technology.
- Users can pay BTT fees to store data securely and privately on the network.
- Contributors (hosts) earn BTT points for providing storage space.
3. BitTorrent Live:💥
- Decentralized live streaming platform powered by BTT technology.
- Allows content creators to earn BTT directly from viewers, eliminating the need for middlemen.
4. Decentralized Applications (dApps):
- Developers can create decentralized applications and integrate them within the BitTorrent ecosystem, leveraging BTT in various use cases such as live streaming, gaming, and cloud storage.
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