What is BitTorrent (BTT)?
BitTorrent —— The World's Largest Decentralized File Sharing Protocol
- BitTorrent is a popular peer-to-peer (P2P) file sharing platform which has become increasingly decentralized in recent years. Originally released in July 2001, later was purchased by blockchain platform TRON in July 2018.
- According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.
- BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world.
- DApps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline.
BitTorrent Key Metrics
BitTorrent is a pioneering distributed communication protocol invented by Bram Cohen in 2001. As a peer-to-peer protocol, it facilitates the transfer of large, highly demanded files, eliminating the need for a trusted central server. The BitTorrent protocol enables client software endpoints (“clients”) to collaborate with each other to enable reliable simultaneous distribution of large files to multiple clients, reducing reliance on any single weak point (such as a server connection). It does this by attempting to make efficient use of every client’s upload and download bandwidth to balance peer-to-peer content delivery across all clients.
The BitTorrent token is a TRC-10 token on the Tron blockchain. The BTT token intends to build a token-based economy for networking, bandwidth, and storage resources on the existing BitTorrent network, e.g., it attempts to provide a way for network participants to "capture the value of sharing bandwidth and storage". Decentralized applications powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, with others planning to support the token.
According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world. Now the BitTorrent protocol used by Netflix, Facebook, Google, Twitter and other well-known companies.
BitTorrent's key features
- Existing BitTorrent clients will implement an optional set of backward-compatible protocol extensions which allow them to bid and receive bids for their bandwidth, working in tandem with a cryptocurrency wallet and bidding engine.
- The project plans to utilize the BTT in more utility cases beyond the current sharing of bandwidth, expanding access to more services including general storage, computation, and resource availability.
- The token will initially be used in BitTorrent clients as payment in exchange for requesting upstream bandwidth. Usage will be extended to additional capabilities including purchasing content, tipping live streaming performers, and crowdfunding the creation of new works.
BitTorrent Project Team
The original BitTorrent is the brainchild of Bram Cohen, a developer and entrepreneur who himself has since become well known in the cryptocurrency arena.
In 2018, TRON completed its acquisition of BitTorrent, bringing it under the control of Justin Sun, Founder and CEO of TRON, 2015 “Forbes” China 30 under 30 entrepreneurs, 2017 “Forbes” Asia 30 under 30 entrepreneurs．
TRON is also behind the addition of cryptocurrency to BitTorrent, as the BTT token was released on TRON’s blockchain. The move formed part of TRON’s efforts to add further decentralized features to the platform.
With the continuous development of TRON, the team has also been continuously improved, gathering many global talents, including Technical Director of its Public Chain Marcus Zhao, Team Lead – API and Dev Tools Francesco Sullof, Head of Developer Community Division Cong Li and more.
DApps powered by BTT
- BitTorrent Speed
BitTorrent Speed is available as a feature of BitTorrent and µTorrent Web, as well as µTorrent Classic.
With BitTorrent Speed enabled, downloaders will have the option of providing tokens to uploaders in exchange for faster download speed. By introducing an incentive of earning BTT tokens, uploaders have a reason to seed files longer, and to dedicate more of their bandwidth and storage to other torrent clients in the network. BTT, which serves as a crypto torrent token in BitTorrent Speed, is responsible for powering a healthier BitTorrent protocol.
- BitTorrent File System
BTFS is both a protocol and network implementation that provides a p2p mechanism for storing and sharing digital content in a decentralized filing system.
BTFS is a decentralized file storage system supported by millions of BitTorrent user nodes. By running on the blockchain, which has a Delegated proof of Stake method of processing blockchain transactions, BTFS addresses these limitations. BTFS represents the first decentralized storage system that can be used by decentralized application (DApp) developers. Soon, BTT will be introduced into the BTFS ecosystem to incentivize a fair and abundant file system.
DLive is a live streaming community built on blockchain that empowers content creators and viewers.
Through a revolutionary rewards system, broadcasters and viewers can earn without sharing their proceeds with the platform. As DLive moves towards decentralization, the aim is to create a more open content platform. Soon, BTT will be introduced to the DLive ecosystem to power virtual gifting, subscriptions, and viewer rewards.