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What is BitTorrent + Tron = BTT cryptocurrency? The essence of the BitTorrent (BTT) project. Pros and cons of BTT, mining, criticism and forecasts
Capitalization of the crypto coin: $167.682.148
What is BitTorrent + Tron?
The BitTorrent cryptocurrency (BTT) is a unique TRC-10 project that was created by BitTorrent Inc. and the Tron Foundation in Singapore in 2019. This crypto coin is most recognizable for its progressive crowdfunding campaign on the decentralized Binance DEX exchange.
A unique data exchange project was developed by Bram Cohen (2001) and the BitTorrent tracker remains at the peak of popularity until now. The protocol covers 40-45% of the world’s Internet traffic and about 200 million users daily. Therefore, the Tron Foundation decided to buy BitTorrent. The owner of the Tron cryptocurrency, Justin Sun, did this in order to expand the functionality of the network and make the work of the torrent tracker more efficient.
The launch of IEO BitTorrent turned into a real infopowder: in the first 7-15 minutes of crowdfunding, it was possible to sell tokens worth $ 7 billion. It may seem that such a discussed novelty is doomed to success, however, harsh criticism of the project has sown doubts among investors.
The price of BTT grew rapidly and brought an eightfold profit to those who purchased tokens during the ICO. The daily trading turnover is around $170 million.
The essence of BTT
The essence and task of BTT is to motivate BitTorrent seeders to keep the file on the computer longer in order to speed up access to files via torrent to other participants. For this seeders will receive coins. Tokens can be spent to buy copyrighted content.
There are two stages of work for BitTorrent:
- Bidannounce – bidding (auctions) starts here, where prices are requested for the missing elements of files from the person who downloads to the one who distributes. Further, after a 30 minute interval, an agreement or refusal follows.
- Bidscrape – here is a list of info hash requirements.
Pros and cons of BTT
Benefits:
- Stimulating the work of users through various rewards.
- Expanding the ecosystem of created BitTorrent products.
- No time limits or commissions.
Disadvantages:
- No traffic accounting and slow file downloads.
- Pretty aggressive marketing policy.
- If the user does not have 100% blocks, it will be impossible to download the distribution.
How to mine BitTorrent?
BTT coins cannot be mined, they can be bought on top cryptocurrency exchanges. For example: Binance, Coinbase and Kraken.
Criticism and forecasts
The BTT cryptocurrency was created on TRC-10. Due to the buyout of BitTorrent by the Tron Foundation, employees began to quit en masse due to distrust of the new course. Some believe that an upgrade will not help the torrent program become faster. A slow and heavy blockchain can slow down the torrent network. In addition, the developers have reserved 40% of the tokens, which will allow them to manipulate the course and make dumps. In short, many investors have the impression that the BTT project is a hype for making money on beginners.
Another group of specialists believes that the project is one of the most promising, because it has a ready-made user base. It is also encouraging that large companies related to the blockchain are interested in the token. And tokens are also traded on top trading platforms.
Investors should not rush to buy BTT tokens. It’s better to buy some TRX to get tokens for free. You can also accumulate BTT through airdrops.
The company plans to create a new BitTorrent Speed platform.
