BitTorrent, a communication protocol for peer-to-peer file sharing, in a recent statement on Thursday, Jan. 3rd 2019, announced the launch of its native token –BitTorrent (BTT), based on the TRON network protocol.
The news follows TRON’s acquisition of the peer-to-peer client around 6 months back, for an undisclosed amount. BitTorrent in a bid to tokenize its content says that the new tokens can be exchanged between different peer-to-peer client users to attain optimized network speed and faster file downloads. BitTorrent announced the launch of Project Atlas, just a few months back, with an aim to incentivize users of the BitTorrent platform. The company hopes that incentivizing the users will encourage them to continue file sharing even after finishing file download, thus helping the content reach to the whole peer-to-peer community. Under the Project Atlas, users will be fairly rewarded with BTT tokens if they keep the files available for others to download.
BitTorrent, which will be issuing the BTT tokens, also claims that the new tokens will be TRC-10 compatible, a technical token standard supported by TRON blockchain natively, without the TRON Virtual Machine (TVM).
The announcement also reported that BTT will be exclusive for non-United States accounts on Binance’s “Launchpad,” a crypto-exchange platform. The tokens will be distributed “selectively” via airdrops by the end of Jan.
BitTorrent protocol, which first came into existence in 2004, is currently the world’s largest decentralized P2P network, which drives 22% of upstream and 3% of downstream traffic all over the world.
BTT tokens will first be available on “µTorrent Classic,” BitTorrent’s Windows-based client and the company’s most popular application among peer-to-peer client users.