BitTorrent (BTT) is the first IEO project on Binance Launchpad. This can be considered the first project to help Binance create the IEO trend on future exchanges. Today, we invite you to learn about BTT Token!
What is BitTorrent?
By definition of BitTorrent (BTT)
They are Protocols that allow sharing of resources on a peer-to-peer network.
BitTorrent creates a protocol that allows content creators on its ecosystem to connect with viewers through Tokenomics, built on the TRON Blockchain.
Based on such a peer-to-peer network applying Blockchain technology, according to BitTorrent, they can well meet the usage needs of more than 100 million current BitTorrent application users.
With the existing user base of BitTorrent before, the dev team is confident that this is the world's largest Blockchain-based application.
As defined by Coin98
BitTorrent (BTT) is a protocol suite that provides an infrastructure for 3rd party applications to exploit BitTorrent's available resources and allows users to contribute to the ecosystem.
By using a token economy (Tokenomics), BitTorrent creates an incentive for many stakeholders to contribute to their ecosystem.
Features of BitTorrent
First let us remember that BitTorrent is not a Blockchain application in the first place. Before that, it was an application that attracted more than 100 million users.
When applying Blockchain to BitTorrent, it is no longer a mere application but an entire ecosystem that operates in the Token economy.
In this part, I will talk more about the above problem, in BitTorrent Ecosystem including: BTT Token, BitTorrent Speed, BTT Operations.
You can learn more about these components on the project's homepage and Whitepaper.
Why does BitTorrent (BTT) use Blockchain?
What is the BitTorrent application that many people already know. However, why does BitTorrent need to adopt Blockchain?
In this section, I will talk about how the owner of BitTorrent - Justin Sun did so:
According to Bittorrent:
- Internet users don't really want to use fiat money to pay for digital goods or services.
- The previous BitTorrent protocol was still not perfect in structure, making future expansion difficult.
- The dev team also realizes the huge potential of BitTorrent in the future.
With the above considerations in mind, the dev team created a platform built on the Decentralized Web that allows app developers to directly reward their customers, when these customers share their resources. in the system.
This will create an incentive for both developers and customers to contribute in the BitTorrent (BTT) ecosystem. And BitTorrent Token or BTT is a key component of the above Token economy. Also in the BitTorrent ecosystem there are a number of other components.
We will learn about BTT Token and these components in the following sections.
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