BitTorrent To Launch Its Cryptocurrency On TRON Blockchain
BitTorrent, which first used the P2P technology for online file sharing, will launch its own crypto based on the TRON blockchain, Coindesk reports, referring to the company's press release.
The BitTorrent Token (BTT) launched by Singaporean BitTorrent Foundation will operate on a protocol created by TRON, which bought BitTorrent in the summer of 2018. The representatives of the well-known file sharing service claim that it has about one hundred million clients.
Thanks to one huge step, blockchain will be available to millions of people across the globe, Justin Sun, TRON's founder and BitTorrent's executive director, stressed. He believes that the modern generation of content producers will receive the necessary tools for its online distribution.
Earlier, Sun presented the Atlas project, aimed at creating a global ecosystem for sharing computer resources with the help of cryptocurrencies.
Using the BTT token, customers will have the opportunity to pay for the transfer of a file or for increasing the throughput to speed up the downloading of documents. With the payment introduction, the content owners will be motivated to upload more of it to the Internet.
BTT was created on the TRC-10 standard, which can be compared with the ERC-20 in the Ethereum blockchain. According to the whitepaper, it is planned to mine a total of 990 billion BTT.
Outside the United States, the BitTorrent tokens will be offered through the Binance Launchpad service. Moreover, they will be distributed through airdrops, which will be announced in advance.