What is BitTorrent (BTT)?
BitTorrent (BTT) is a pioneering distributed communication protocol which uses economic incentives to facilitate the delivery of large and highly demanded files around the Internet, eliminating the need for a trusted central server.
An open protocol independently implemented dozens of times and included in software that has been downloaded and installed billions of times in the past 16 years, BTT connects content creators with their audience, earn and spend digital currency without a middleman.
By connecting the BitTorrent peer-to-peer network to the TRON blockchain, over 100,000,000 users will now be provided with an entirely new experience.
- There is a large and unrealized opportunity for the application of decentralized BitTorrent technology to many new use cases and the market is more ready for it now than it has ever been before.
- Operation of the BitTorrent protocol today is experiencing structural inefficiencies which limit the lifespan of BitTorrent swarms and so limit its overall effectiveness as a protocol.
- A majority of consumers are disinclined to pay with fiat currency for things online. The result is that people pay with their ‘attention’ which leads directly to a web dominated by privacy-destroying information monopolies.
BitTorrent’s plan is to incentivize users to let others make use of their spare resources thus boosting the efficiency of file sharing.
Current BitTorrent users can use optional backwards-compatible protocol extensions which will allow them to buy and sell bandwidth in a manner that will be synchronized with their cryptocurrency wallet and bidding engine.
At first, the BTT token will be used as payment for requesting upstream bandwidth. Later on, its use will expand to include the purchase of content, tipping live stream performers and crowdfunding media creation.
Their product, BitTorrent Speed, which will be available in Q2 2019, rewards BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads.
You can read more in the whitepaper.
Here are some of the folks from BitTorrent’s core team, click here to check more details.
Community Around It
- Telegram: 64,497 members;
- Twitter: 61.3K followers;
- Facebook: 310,588 followers.
The BitTorrent team also has a blog, although with highlights such as:
BitTorrent in other media:
Token Sale Info
*Two simultaneous token sales will be held accepting Binance Coin (BNB) and Tron (TRX).
- Main Token Sale start date: January 28, 2019
- Main Token Sale end date: February 3, 2019 (or when hard cap is reached)
- Total Token Supply: 990,000,000,000 BTT
- Total Tokens Offered in Public Sale: 59,400,000,000 BTT
- Hard Cap: $7,200,000 USD Equivalent
- Individual Cap: $20,000 USD Equivalent
- Token Symbol: BTT
- Token Sale Price: 1 BTT = $0.00012 USD
- Private & Seed Sale Token Price: 1 BTT = $0.000177 USD
- Blockchain Used: TRON
- Token Standard: TRC-10
- Token Type: Utility
*Hard-Cap was reached in a very short time after the start of the sale.
Private Sale 2%
Public Sale 6%
Seed Sale 9%
BitTorrent Airdrop 10%
TRON Airdrop 10.1%
TRON Foundation 20%
BitTorrent Ecosystem 19.9%
Token Governance and Use of Funds
Partnerships and community development 3%
Team FTE costs 64%
Equipment and software 3%
Operational Costs 2%
- Complete on-chain / off-chain exchange server-side development
- Complete swarm analysis framework
- Issue TRC-10 BTT tokens
- Share Wallet UI to early test group
- Launch complete Wallet UI to stable client
- Expose Wallet with on-chain/off-chain exchange to an early access group
- Complete BTT airdrop to existing BitTorrent protocol over 100M users
- Publish BEPs related to BTT and tokenization of the BitTorrent protocol
- Add wallet support for TRX, and any TRC-10 or TRC-20 tokens.
- Experimental dApp integration
Upfiring (UFR) – A P2P file-sharing application that encrypts and distributes files between users over a decentralized network. Users earn tokens by seeding files. The movement of tokens and files on the network is powered by smart contracts, allowing for trustless exchanges.
Flixxo (FLIXX) – A P2P decentralized video distribution platform incentifying content creators with utility tokens. Users can earn Ethereum-based FLIXX tokens by seeding, offering CPU, storage and energy, spend them to watch content, transfer them between accounts, or cash them out.
Because BitTorrent has been the world’s largest decentralized ecosystem since 2001, it has an enormous content advantage over similar blockchain-powered content ecosystems.
Controlling 40-50% of the BitTorrent protocol’s usage worldwide, BitTorrent and μTorrent clients can tap into a large user base that contributes almost a quarter of the global online content distribution.
BitTorrent’s BTT token looks like one of the best projects we’ve seen lately and a scent of fresh air in an honestly a bit stale ICO environment. An already established, strong, and well-respected company online, BitTorrent has a team of seasoned experts with enviable experience in relevant fields and in companies that everyone is familiar with, such as TRON and Upwork.
Although there are competitors that are doing similar things, none of them can boast the popularity, fame and huge user base that BitTorrent has. The project has been well-detailed in the whitepaper and any additional information is readily available courtesy of their main partner – Binance.
BitTorrent also offers something that a lot of other ICO projects have failed to deliver – an explanation of how exactly they plan to incorporate blockchain into their operations. All things considered, this is definitely a worthwhile project with a bright future.
We tried contacting the team for a little Q&A, but there was no response so far.