The Breakthrough to Introduce Millions of Users to Cryptocurrency from Bittorent
BitTorrent, which pioneers end-to-end technology for sharing files on the Internet, is launching its own cryptocurrency.
The new BitTorrent Token (BTT), released by the Singapore-based BitTorrent Foundation, acquired BitTorrent in June last year. The domain will use the tron protocol developed by Tron.. The file-sharing software company says it already has 100 million users.
A Big Step
Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release:
“In one big step, we can introduce blockchain to hundreds of millions of users around the world and empower the next generation of content creators with tools to share their content directly with others on the web.”
The plan to launch a token follows the announcement for Project Atlas that BitTorrent announced at the end of August.. Project Atlas is a new iteration of P2P software. This project offers users a way to spend or earn cryptocurrency while sharing files.. As Sun explains in a YouTube video, the user isn’t even encouraged to keep a file on the network after they’ve finished uploading it.
BTT is a Payment Method
With BTT, users can use anything to send files. users can pay for more bandwidth as well as pay anyone. Thus, the opportunity to load faster is caught.. With the payment facility, file owners are encouraged to keep more files on the network, thus giving certain users the ability to upload whatever they want.
A Tron spokesperson confirms that the company will not interfere with these trades.
990 Billion BTT Will Be Created and Become a Binance Broker
BTT will be a TRC-10 token (similar to ERC-20 tokens running on Ethereum). According to the report shared by the token with CoinDesk, a total of 990 billion BTT tokens will be created.. The tokens will also be distributed through the airdrop method, which is called the process of distributing the coins that will enter the crypto money market without any fee, which will be announced on Sun’s Twitter feed.. A Tron spokesperson declined to provide further details regarding the upcoming airdrops from Twitter.
The token will initially run through the Windows-based µTorrent Classic receiver with the most users on it.. The company says Project Atlas will be backwards compatible so users who don’t want to spend or earn BTT can still share files with anyone who chooses to use the new system.
More details on Tron and Project Atlas, this month. will be announced at the Tron summit, which will eventually be held in San Francisco.
Staff Changes
Before it was acquired last year, BitTorrent contacted several companies regarding the acquisition, but only Tron responded
Additionally, Sun tried to persuade company founder Bram Cohen to return to work in a full-time position as a condition of the deal.. Cohen refused, and instead of Sun’s offer, he founded his own new company, Chia Network, and left BitTorrent with a small stake.
Shortly after CoinDesk was taken over by Tron, employees He has announced he is leaving BitTorrent.
According to a Tron spokesperson, Rogelio Choy, BitTorrent’s CEO, has been serving as general manager since its acquisition, according to a Tron spokesperson.