The crux of this protocol is the torrenting service it provides. Is TRX a good investment? Take a look at what future holds for TRX. Which is why TRON’s recent claim that BitTorrent/μTorrent ecosystem represents the world’s biggest decentralized application is likely correct. While this number sounds just a tad bit outlandish, BitTorrent is in fact very popular, as it regularly clocks at least 100 million active users per month. This company puts out some impressive claims on their About page, claiming their “ BitTorrent” and “ μTorrent” clients move “as much as 40% of the world’s Internet traffic on a daily basis” through the BitTorrent protocol. BTFS works similarly to other decentralized cloud storage platforms like Filecoin, Siacoin and Storj, each of which has varying technical capabilities.BitTorrent is a popular communication protocol for decentralized peer-to-peer file sharing (P2P) invented in 2001 and currently owned by BitTorrent Inc., a San Francisco-based IT company.
Bittorrent token logo download#
The BitTorrent network also leverages Tron’s suite of smart contracts to create a variety of decentralized applications (dapps) meant to enhance its services.Ĭhief among them is BitTorrent Speed, a dapp that offers requesters the ability for requesters to purchase provider bandwidth using BTT in order to increase download speed.Īnother popular dapp is the BitTorrent File System (BTFS), a file storage protocol meant to address issues of cost and trust inherent in centralized storage systems. Once a bid is matched between a requester and service providers, a payment channel is created on Tron to facilitate the micropayments needed per provider, based on the piece of the file they have shared.Īfter the service is finalized, these micropayments are subsequently bundled up, settled and logged on the Tron blockchain. While BitTorrent’s file transactions are facilitated by its software, the network relies on the Tron blockchain to maintain a record of all BTT transactions. The expansion of BitTorrent with BTT was intended to make it a more distributed network, compensating providers while increasing the efficiency of sharing large files to reduce server and network impact.Ī requester can also offer BTT tokens to a provider in exchange for local resources, such as bandwidth to receive content or storage for remote backup.
If requesters wish to download said file, they receive pieces of the same file from multiple providers. Providers who host a file split them into several pieces. Transactions begin when a user asks for files from the providers who host the files on their computer.
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With BTT token, the BitTorrent team hopes to add incentives to torrenting and solve issues such as slow download speed and the diminishing availability of files over time.Īs such, BTT coin is bought and spent by those who request files or wish to increase their download speed, while providers have to receive and sell BTT in order to be compensated for sharing the files on their systems.įor more regular updates from the BitTorrent team, you can check out the BitTorrent blog, which includes new features and milestones related to the network and its applications.Īt its core, BitTorrent is a software that connects parties accessing its network to compute file sharing requests.
The new ownership then introduced a BitTorrent token cryptocurrency, BTT, to help expand its protocol and incentivize the network’s participants. To that end, BitTorrent was acquired by the Tron Foundation, creators of the Tron blockchain in 2019. Rather than downloading or uploading files to a single server, users joined a network of computers running a software enabling them to exchange files and data with each other.īut in the years since, BitTorrent struggled to monetize its massively popular service.
Bittorrent token logo movie#
BitTorrent captured the hearts of many music and movie enthusiasts in the early 2000s when it launched software that facilitated file sharing over a peer-to-peer network.
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