Among all the communication protocols BitTorrent is known as the largest decentralized peer-to-peer communications protocol, having more than 170 million user communities per month. The native Bittorrent was the pet project of Bram Cohen. In 2001, Cohen created the peer-to-peer file-sharing protocol which worked as a backdoor entry by which users were able to freely upload, download and share files using the BitTorrent platform.
The platform was designed and developed to seize the outmoded entertainment industry that made receiving files elongated and costly. What’s more, Bittorrent is required to destabilize the usual file storage systems that are fully centralized and accord censorship authority to the government powers, which are expensive and consist of low fault tolerance levels.
The peer-to-peer file sharing protocols are now over time becoming fully decentralized and in coming years all platforms will be decentralized for good. For all sorts of crypto trading use platforms like Kraken, Binance, and Immediate Bitcoin.
What Is BitTorrent?
The BitTorrent File System is both a platform as well as a network implementation that provides peer-to-peer services for storing and sharing virtual content in a completely decentralized interface. This platform is supported and used by millions of user nodes of Bittorrent over the blockchains. Also, this protocol uses a Proof of Stake consensus mechanism for handling blockchain transactions.
A well-known blockchain platform, Tron developed the BitTorrent protocol in the year 2018. Today, this platform is listed as the largest decentralized peer-to-peer platform. After the development, the protocol has combined a large variety of new tools, at the same time being established on the blockchain of Tron. Moreover, this platform owns a dedicated native token developed on the TRC-10, known as the BTT token.
In the start, the main purpose of Bittorrent was to disorder the usual entertainment industry and alter the way customers utilize the content. The creators of this platform decided to target the bungling and overpriced distribution system by letting all the users distribute the files among themselves unswervingly. This primary idea was then expanded to facilitate those who are willing to use decentralized solutions, for instance, Decentralized Applications (DApps). At this time, this protocol is serving clients such as Bittorrent Web, uTOrrent Classic, and uTOrrent Web.
In addition to all this, the appeal done by users has further extended into features such as BitTorrent Speed for its user community. The BitTorrent Speed requires the BTT tokens as a portion of its work. Other than this, Bittorrent brings its users a variety of paid options where all users can get premium-level services and other facilities on the platform that also includes ad-free browsing.
The Bittorrent Token (BTT):
The BitTorrent token is a standard TRC-10, created on the blockchain of TRON. This token can be easily enabled over any of the BitTorrent services to have a better faster speed and be less time-consuming in downloading. To enable torrent software, you will need a wallet and BTT token balance with every other upgrade or download. Furthermore, the users can easily earn Bittorrent tokens by seeding after the torrent file is downloaded.
The total BitTorrent token is capped at 990 billion among which all the tokens are on flow currently. The price of the BitTorrent token is currently at $0.003284 and 28% up in the last hours.
A Quick Analysis on Bittorrent:
Though BitTorrent is skyrocketing it recently had a crash that cost it a lot. The current crypto market crash had Bittorrent Token fall by almost 40%. Today, it has regained some and is still working on stabilizing it shortly.
Future of BitTorrent:
BitTorrent is not going to be behind in any race as it has already declared collaborations as well as partnerships with multiple companies including Accel Partners, ESA Flash Components, Opera Software, and many others. This platform also required a blockchain-based live video game platform in the year 2019, known as DLive. Though the BTT is not performing much on the technical front still its scope is high and huge.
Conclusion:Â
BitTorrent is one of the most promising alternative coins in the crypto world. It provides its investors with simple access to the money-spinning crypto market. In addition to all above mentioned, this platform is continuously improving its platform’s performance and hence it is leading to an even bigger crypto market.