Each of the services is powered by a decentralized app (DApp) on Tron. In addition to enabling paid file downloads, BTT is used within the BitTorrent ecosystem for a number of other services. This opens up opportunities for monetizing intellectual property (IP), and makes BitTorrent a valid competitor to the many NFT platforms operating under the same concept of IP commercialization. You can use BTT to access content made available only to paying users. BitTorrent’s file sharing system (Source: ) Users who exclusively download without making files available to others, risk being “choked,”, i.e., having other users refuse their connections. The more content you make available to others, the higher your own download privileges are. How Does BTT Work?īitTorrent’s main functionality, the exchange of digital content in the form of files, is based on a principle of “tit-for-tat.” The essence of this principle is that you have to make some content available for download in order to download yourself. Coupled with Tron’s generally fast performance, this makes BTT a very efficient transactional crypto in terms of fees and speed. Compared to TRC20, TRC10 tokens feature around 1,000 times lower transaction costs on the network. TRC10 is one of the two token standards widely used on Tron, the other being the TRC20 standard. With the integration of BTT into the BitTorrent ecosystem, the Tron Foundation aims to leverage BitTorrent’s general popularity into business success.īTT is based on Tron’s native TRC10 token standard. In 2018, the Tron Foundation, the entity behind the Tron (TRX) blockchain, acquired BitTorrent, integrated the protocol into its blockchain, and introduced the BTT cryptocurrency to monetize popular BitTorrent services.īTT can be used to pay for a variety of BitTorrent services such as downloading content, accessing faster download speeds, watching live streams, and using decentralized data storage. What Is BTT?Īlthough BitTorrent has always been a hugely popular service, it struggled to turn this popularity into commercial success. BTT trades at $0.0036 per coin (3.6 cents per 10 BTT), with a circulating supply of nearly 660 billion coins, for a market cap of nearly $2.4 billion. ![]() In essence, you get the needed file in small bits from a number of other BitTorrent users.īTT is the cryptocurrency that powers BitTorrent’s blockchain-based transactions. Using BitTorrent, you can download files you need from different sources, each contributing a bit of overall content. The downloaded content is often located on many different computers around the world. BitTorrent is a file sharing protocol where users connect to each other’s computers in a decentralized way to download content. Before Bitcoin and blockchain technology were even conceived as an idea, another decentralized peer-to-peer (P2P) network, BitTorrent, was among the most popular online platforms in the world.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |