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BitTorrent will launch Tron-Based Cryptocurrency

The token will enable users to achieve higher download speed.

TRON Foundation and the BitTorrent Foundation are introducing a new cryptographic token called BTT, along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet.

Get faster downloads. More seeds – earn for seeding.

Analysis

Overview

BitTorrent Statistics

The Singapore established BitTorrent Foundation, will enable users to exchange tokens to improve network speed. By providing users with the ability to use BTT tokens for faster downloads, the company aims to accelerate the overall speed of torrents.

The partnership between TRON and BitTorrent has been dubbed ‘Project Atlas’. It introduces token-based optimizations to the existing BitTorrent protocol providing value of sharing bandwidth and storage to be captured by network participants beyond the point of the current protocol. Their long-term vision is to broaden the usage of BitTorrent far beyond the current use-cases to provide a distributed infrastructure platform to third party app developers and to enable consumers to continuously distill small amounts of value from their devices by allowing others to make use of their spare resources.

By making use of the infrastructure already provided by existing BitTorrent clients, these new apps will be able to offer incentives (BTT) to users in return for access to cost effective platform resources.

A total of 990,000,000,000 BTT will be created. The total supply will be divided as follows: the allocation to BitTorrent, Inc. torrent client users as part of client install and on-boarding, the allocation to existing TRX holders, the initial supporters and investors, the BitTorrent Foundation & team and the TRON Foundation.

Wallets & Micropayments

As part of the roll out of the new BitTorrent and μTorrent software that can participate in the BTT applications they will be distributing integrated cryptocurrency wallets to all users.

As mentioned in the Whitepaper: “Users who may accumulate only a small amount of BTT from providing services will look for ways to spend that token that go beyond their need for incentivizing seeding. In due course, we expect to evangelize this new capability and explore partnerships that can accelerate merchant acceptance of this new type of micropayment mechanism. This will be particularly advantageous to merchants who want to aggregate and use tokens to pay for infrastructure services to support their ongoing services.”

With over 100 million monthly active users and millions of additional new installs every week, BitTorrent already manages one of the largest distributed computing ecosystems on the Internet. By integrating BTT tokens and transaction processing, it will both address existing limitations of BitTorrent and open up a whole new borderless economy for compute resources on a global scale.

Binance Launchpad

Binance Launchpad

BitTorrent is working closely with Binance. “We created the Launchpad to help entrepreneurs launch their best projects and bring more use cases to the industry. BitTorrent will have greater access to resources across the Binance ecosystem,” said Changpeng Zhao (‘CZ’), Binance CEO and Founder.

Conclusion

Tron & BitTorrent will provide a platform for content creators and app developers, and will also monetize the uploading and downloading of torrent files. With this announcement, they are moving forward to achieving their vision of a decentralized internet.


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