BitTorrent Price

BitTorrent is a cryptocurrency that operates on the TRON blockchain. It was created to incentivize and optimize the BitTorrent peer-to-peer file-sharing protocol. Key features of BTT include: - Facilitates faster downloads and longer file availability on the BitTorrent network by rewarding users who share bandwidth and storage resources - Can be used to bid for faster download speeds, tip content creators, and crowdfund new works - Has a total supply of 990 billion tokens - Ranked 131 by market cap at $0.0000006055 per token - 24-hour trading volume of $1.31M - Current market cap of $597.06M - Circulating supply of 986.06T BTT BTT BTT aims to create a decentralized economy for digital content by allowing direct transactions between creators and consumers without intermediaries. It's integrated into popular BitTorrent clients to introduce blockchain and cryptocurrency to millions of users worldwide. The token has potential use cases beyond file-sharing, including distributed storage, computing, and VPN services.

BitTorrent was created on January 31, 2019. It was launched as a TRC-10 utility token on the TRON blockchain to extend the BitTorrent protocol and create a token-based economy for network resources. The goal was to incentivize users to share bandwidth and storage on the existing BitTorrent network, providing faster downloads and longer file availability. BitTorrent aimed to introduce blockchain technology to hundreds of millions of BitTorrent users worldwide and support a new generation of content creators by enabling direct distribution and monetization without intermediaries.

The founders of BitTorrent are Bram Cohen and Justin Sun. Bram Cohen invented the BitTorrent protocol in 2001, which laid the foundation for BitTorrent. Justin Sun, the founder of TRON, acquired BitTorrent in 2018 and launched the BTT token in 2019 to incentivize users on the BitTorrent network. Together, they transformed the original file-sharing protocol into a decentralized ecosystem powered by blockchain technology and tokenomics. Their vision was to create a token economy for bandwidth and storage resources on the existing BitTorrent network, allowing participants to capture value from sharing these resources.

BitTorrent works as a decentralized cryptocurrency on the BitTorrent network. It incentivizes users to share bandwidth and storage resources by allowing them to earn BTT tokens for seeding files. The token can be used to bid for faster downloads, tip content creators, or access premium features. BitTorrent operates on the TRON blockchain as a TRC-10 token, enabling fast and low-cost transactions. With a total supply of 990T BTT tokens, BitTorrent aims to create a token-based economy for the existing BitTorrent ecosystem, which has hundreds of millions of users worldwide. The token integration allows BitTorrent to introduce blockchain technology and cryptocurrency to its massive user base, potentially accelerating mainstream adoption.

BitTorrent operates on a decentralized peer-to-peer network architecture. It utilizes the BitTorrent protocol for efficient file sharing and distribution. The system is built on the TRON blockchain as a TRC-10 token, enabling tokenization of bandwidth and storage resources. Key components include: 1. Distributed hash table (DHT) for decentralized tracking of peers 2. Piece selection algorithms to optimize download speeds 3. Choking algorithm to incentivize reciprocal sharing 4. Blockchain integration for token transactions and smart contracts 5. Bidding engine for bandwidth allocation This architecture allows BitTorrent to create a tokenized economy around file sharing, incentivizing users to contribute resources to the network. The system aims to improve download speeds, file availability, and enable new use cases like decentralized storage and content delivery networks.

The future of BitTorrent looks promising with several key developments on its roadmap: 1. Ecosystem expansion: BitTorrent aims to integrate with more decentralized applications and services within the TRON ecosystem by 2026. 2. Technology upgrades: Planned improvements to the BitTorrent protocol and BTT token utility are expected to enhance network performance and user incentives by 2027. 3. Partnerships: Strategic collaborations with content creators, streaming platforms, and file-sharing services are in the pipeline to drive adoption. 4. DeFi integration: BitTorrent plans to expand its presence in decentralized finance, potentially offering staking and yield farming opportunities by 2030. 5. Cross-chain functionality: Efforts are underway to make BTT interoperable across multiple blockchain networks, increasing its versatility and reach. 6. Mobile wallet development: A dedicated mobile wallet for BTT is expected to launch by 2026, making it easier for users to manage and utilize their tokens. 7. Governance implementation: A decentralized governance model is planned to give BTT holders voting rights on key protocol decisions by 2027. With these initiatives, BitTorrent aims to strengthen its position in the decentralized storage and content distribution space, potentially driving its value to $0.0000007344 by 2026 and $0.000001039 by 2030.