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BitTorrent Token (BTT) is a native cryptocurrency developed for use in BitTorrent, a large decentralized peer-to-peer file-sharing network. BTT is issued on TRON’s blockchain as a TRC-10 standard token.
BitTorrent was initially released in 2001 by developers Bram Cohen and David Harrison. The BitTorrent Foundation was later acquired by the Tron Foundation, led by Justin Sun, in 2018. Following this acquisition, the BTT token was introduced to the public by the BitTorrent team in 2019 through an ICO.
BTT was released in February 2019.
BTT serves as a methodological framework for trading computing resources among BitTorrent clients and a liquid market of service requesters and suppliers. In the BitTorrent ecosystem, BTT is the unit used to denominate transactions for the supply of services. The token is divisible, allowing for more precise pricing.One of the unique features of BTT is BitTorrent Speed, which allows peers to incentivize each other with BTT to continue seeding files after the complete download, thus enhancing swarm lifetime and download speeds for all swarm participants. Additionally, BTT incentives are available to BitTorrent client implementers, third-party software developers, and online publishers, aiming to increase the variety of participants within the network.
