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Saturday, December 9, 2023

How has Torrent Evolved –  BitTorrent (BTT)

File sharing systems and algorithms have had a boom in the past. When the internet first came the cloud storage and file sharing systems did not exist. People used physical devices to share data with one another. As the technology progressed the file sharing systems evolved and the age of physical devices is gone. Drives, dropbox have brought change to the storing. For file sharing torrent took over the internet. Even though torrent has been exploited to allow more piracy to happen but the fact remains that it has brought substantial changes to the network. A tracker is downloaded that connects the clients with one another allowing them to download files

What is BTT?

Now what if this technology was brought into the crypto market and the whole process of file sharing was decentralized. This is where BTT (BitTorrent) comes into play. BTT is a trc-10 token that supports the working of many different dApps on Tron Network such as BitTorrent Speed, BitTorrent File System (p2p file sharing system), DLive (streaming community). BitTorrent was acquired by Tron in 2018.

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How does BTT works?

Enabling BTT allows for faster downloads of data and also provides you with BTT in the process. To start the process, wallet is to be downloaded and enabled in the client software. After that you just have to download torrent and use the software just like normally you would do. The wallet would automatically bid BTT to allow faster downloads. When the file is downloaded users can earn BTT by seeding it. BitTorrent has allowed ad free browsing and vpn services as part of its paid and premium services.

Tokenomics and Current Price

According to coinmarketcap, the circulating supply of BTT is around 660B BTT. BTT holds 56th rank according to market cap. At the time of writing BTT is being traded at the price of $0.003058 with a decrease of almost 0.60% in the last 24 hours. The maximum and minimum today are $0.003107 and $0.002936 respectively. BTT had created its ATH in April 2021 and reached a price of almost $0.013578. Since then the price hasn’t been able to recover what it had lost. In fact the drop of this month (about 27.57%) is enough that it cancelled what BTT had gained in the previous month. BTT can be traded at some of the biggest exchanges like Binance, Huobi, KuCoin.

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