The first step is to add token-based improvements to the existing BitTorrent protocol, which will allow network participants to capture the value of shared bandwidth.īitTorrent Inc., which maintains the BitTorrent protocol, also invented BitTorrent and Torrent ("uTorrent"), two of the most prominent BitTorrent clients.
The token and the enhanced protocol will collaborate to create a token-based economy for networking, bandwidth, and storage.
TRON Foundation and BitTorrent Foundation are teaming up to launch a new cryptographic currency called BTT, as well as a more advanced version of the BitTorrent protocol. This will enhance the protocol's current weakness while also allowing for the creation of a new borderless economy for trading value for computer resources on a global scale. BitTorrent has the ecosystem and skills to integrate blockchain technology into its protocol. The protocol's fundamental shortcoming is that partnerships between parties utilizing it cannot go indefinitely, stifling the interchange.Ĭollaborations between untrustworthy parties can now last much longer because of blockchain technology. The BitTorrent protocol, developed by BitTorrent Inc., makes file sharing between untrustworthy parties easier. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) - what are you waiting for? How Does BitTorrent Token (BTT) Work? #Binance Lists BitTorrent (BTT) and Completes Distribution for Successful Launchpad Participants and Additional Airdrop us in showcasing the cryptocurrency revolution, one newsletter at a time. Two days later, Binance announced that it had listed BTT: Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds. It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. This is how Justin Sun, TRON Foundation’s CEO announced the results of the sale: Last Monday (January 28th), as reported here, the public sale of TRON’s BitTorrent Token (BTT) on Binance Launchpad ended in less than 15 minutes, with 59.4 million tokens sold in under 15 minutes. Each BTT was priced at 0.00001824 BNB or 0.00447261 TRX. We were told that each BitTorrent Token would cost approximately US$ 0.00012, and that we would only find out the exact price on the day of the sale. Binance’s blog post also mentioned that the BitTorrent Token sale would “run in two simultaneous sessions: one for purchases using Binance Coin (BNB) and another for purchases using TRON (TRX),” with 23.76 billion BTT for sale in the former and 35.64 billion BTT for sale in the latter. On January 18th, cryptocurrency exchange Binance announced that its token launch platform, Binance Launchpad, would be exclusively offering TRON’s BitTorrent Token (BTT) for the first time on January 28th starting at 15:00 UTC. On Monday (February 4th), a day after getting listed on cryptocurrency exchange KuCoin, TRON’s BitTorrent Token (BTT) continued its highly impressive run since its first public sale on Binance Launchpad last Monday (January 28th), going up almost 50% against Binance Coin (BNB) in the past 24-hour period alone.
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