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About BitTorrent (BTT)

BitTorrent (BTT) is a cryptocurrency that powers the BitTorrent ecosystem, designed to incentivize and enhance the speed of file sharing across the network. BTT is utilized within the BitTorrent network, which is a peer-to-peer (P2P) file-sharing platform, allowing for faster downloads and rewarding users for contributing bandwidth and resources through a process known as tokenization.

    BitTorrent Frequently Asked Questions (FAQ)

      What is the primary function of BitTorrent (BTT)?

      The primary function of BitTorrent (BTT) is to serve as a cryptocurrency that facilitates transactions within the BitTorrent network, powering a decentralized ecosystem where users can share digital content such as files and media securely and efficiently.

      Who originally created BitTorrent, and who owns it now?

      BitTorrent was originally created by Bram Cohen. As of the latest updates prior to 2023, BitTorrent Inc., the company behind the protocol, was acquired by the TRON Foundation in 2018.

      What changes occurred to BitTorrent after TRON's acquisition?

      After TRON's acquisition of BitTorrent, the company introduced BitTorrent Speed, which integrates a cryptocurrency token (BitTorrent Token or BTT) to incentivize faster download speeds. There has also been a drive towards integrating blockchain technology into the BitTorrent ecosystem, aiming to tokenize the decentralized file-sharing protocol and expand into new areas such as decentralized file storage and content distribution.

      How does the BTT token function within the BitTorrent ecosystem?

      The BTT token serves as a utility token within the BitTorrent ecosystem. It is used to incentivize faster file sharing by compensating users for seeding and bandwidth, enabling them to earn tokens for contributing resources to the network. BTT is also utilized for purchasing additional services, participating in crowdfunding on the new BitTorrent Speed platform, and can be exchanged between users within the integrated wallet.

      What is the total supply of BTT tokens and how is it distributed?

      The total supply of BTT tokens is 990,000,000,000. The distribution is as follows: 19% allocated for BitTorrent ecosystem, 19% for the Tron Foundation, 20.1% for airdrops to TRX holders over several years, 10.1% for BitTorrent team and foundation, 19.8% for BitTorrent ecosystem operations, 10% for partnerships and 2% for private sale. These figures are based on the initial distribution plan and could be subject to changes over time.

      When were BTT tokens first released and on which blockchain?

      BTT tokens were first released in January 2019 and they initially operated on the TRON blockchain.

      What are some of BitTorrent's unique features post-TRON acquisition?

      Post-TRON acquisition, BitTorrent introduced several unique features such as BitTorrent Speed, which integrates the utility of the BTT token to enhance download speeds; BitTorrent File System (BTFS), a distributed file storage system; and DLive, a blockchain-based live streaming platform that joined the BitTorrent ecosystem to bring blockchain-based content sharing and storage closer to mainstream adoption.

      What steps has BitTorrent taken to ensure the security of its network?

      BitTorrent has implemented several measures to enhance its network's security, including the use of end-to-end encryption to prevent eavesdropping, the incorporation of secure hashing algorithms to maintain data integrity, and a robust user verification process to prevent unauthorized access. Additionally, the platform frequently undergoes security audits and updates to address any vulnerabilities and ensure compliance with the latest security standards.

      How does BitTorrent aim to disrupt the legacy entertainment industry?

      BitTorrent aims to disrupt the legacy entertainment industry by offering a decentralized distribution platform that reduces dependency on traditional media distribution channels. It enables content creators to distribute their work directly to consumers, increases efficiency by lowering hosting and distribution costs, and potentially allows for a fairer revenue model by reducing middlemen.

      What are the different 'premium' services offered by BitTorrent?

      BitTorrent offers premium services like BitTorrent Speed, which accelerates download speeds by using BTT tokens as part of a tokenized incentive scheme; BitTorrent Pro, which provides advanced features and removes advertisements; and BitTorrent Now, a platform for streaming and downloading music and videos from independent artists.