BitTorrent, a communication protocol for peer-to-peer file sharing, in a recent press release statement, announced that BitTorrent Speed, the company’s blockchain token generation system that’ll generate its native token –BitTorrent (BTT), based on the TRON network protocol and integrate it into windows’ µTorrent client, will launch by summer of 2019.
The system will also incentivize users that further share content with others in the torrent community via the µTorrent network. The µTorrent client’s which already exceeds 100 million, can also utilize the BTT tokens as payments in exchange for faster downloads. BitTorrent also announced that non-US account holders can only purchase BTT tokens on the Binance Launchpad platform.
Bitcoin and BitTorrent network, are almost similar in structure, by lacking a single point of authority and supporting decentralized information sharing. Earlier this month, on Thursday, Jan. 3rd 2019, BitTorrent announced the launch of the BTT tokens, based on the TRON network protocol. BitTorrent’s BTT initiative is the eponymous company’s long term goal to use cryptos to incentivize decentralized content distribution.
BitTorrent was recently in the limelight when its former chief strategy officer, Simon Morris, made a claim saying that TRON is not apt at managing the transaction volume needed to tokenize BitTorrent. In response to Morris’ steep remarks on TRON, a TRON spokesperson responded saying that former employee, Morris, has little insight into BitTorrent operational plans since his departure, and that action and execution will show the results.