BitTorrent is a P2P protocol for transferring large files over the Internet. In this article, “What is BitTorrent?” We will answer the question. In addition, we will touch on other questions about the project.
What is BitTorrent? What does it do?
BitTorrent (BTT) will be renamed from a TRC10 token to a TRC20 token on the TRON blockchain. The new TRC20 BTT tokens on the TRON network became BTT. The old TRC10 BTT tokens have been renamed BTTOLD. BitTorrent is a popular P2P file sharing and torrenting platform that has become more and more decentralized in recent years. Originally launched in July 2001, BitTorent was acquired by blockchain platform TRON in July 2018. Since its acquisition, BitTorrent has added various tools along with BTT, a special cryptocurrency token that was released in February 2019. BTT launched it using the TRC-10 standard on TRON’s own blockchain network.
What is BTTOLD coin?
BTTOLD coin is BitTorrent’s native token. With the token, the BitTorrent team hopes to fix issues such as slow download speed and availability of files that decrease over time and add incentives to torrenting.
How does BitTorrent work?
At its core, BitTorrent is software that connects parties accessing its network to calculate file sharing requests. Processes start when a user requests files from providers that host the files on their computer. Providers hosting a file divided them into several parts. Also, if requesters want to download the file in question, they get parts of the same file from more than one provider. Expanding BitTorrent with BTT, making it a more distributed network. It improves the efficiency of sharing large files to reduce server and network impact. The requester can also offer BTT tokens to a provider in exchange for local resources such as bandwidth to fetch content or storage for remote backup.
BitTorrent’s file operations are facilitated by its software. In addition, the network relies on the Tron blockchain to keep track of all BTT transactions. When an offer is matched between the requestor and the service providers, it creates a payment channel in Tron to facilitate the micropayments needed per provider based on the part of the file they share. After the service is terminated, these micropayments are then packaged, edited and recorded on the Tron blockchain. The BitTorrent network also leverages Tron’s suite of smart contracts to create various dapps aimed at improving its services.
Chief among these is using BTT to increase download speed to requestors. Also comes BitTorrent Speed, a dapp that offers provider bandwidth purchase. Another popular dapp is BitTorrent File System (BTFS), a file storage protocol aimed at solving cost and trust issues found in centralized storage systems. BTFS works similarly to other decentralized cloud storage platforms such as Filecoin, Siacoin, and Storj, each with different technical capabilities.
What is BitTorrent? How to buy BTTOLD coin?
BitTorrent is currently traded on a small number of cryptocurrency exchanges. In addition, people who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where BitTorrent is traded are listed as follows: CoinTiger, Upbit, Bibox, PancakeSwap (V2). Users who want to invest in the project should open an account on one of these exchanges.
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