![BitTorrent [New] (BTT) token logo on a digital background representing the blockchain network.](/i/coins/bittorrent-new.png){kind=small}
BitTorrent [New] (BTT)
BitTorrent [New] (BTT): A Guide to the Decentralized Content Ecosystem
BitTorrent [New] (BTT) is the native cryptocurrency of the BitTorrent ecosystem, operating as a TRC-20 token on the TRON blockchain. It was introduced to tokenize the massive peer-to-peer file-sharing protocol, creating a more robust and incentivized network. The primary goal of BTT is to build a token-based economy around the sharing of networking, bandwidth, and storage resources, thereby improving the overall health and speed of the BitTorrent network for millions of users worldwide.
In 2021, the original BTT token underwent a redenomination plan, creating the current BitTorrent [New] (BTT) at a ratio of 1:1000. This transition was part of the launch of the BitTorrent Chain (BTTC), a layer-2 cross-chain interoperability protocol. BTTC connects the TRON, Ethereum, and BNB Smart Chain networks, allowing for seamless asset transfers. This upgrade significantly expanded the utility of BTT beyond simple file-sharing incentives, integrating it into the broader DeFi and Web3 landscape through platforms like DLive and the decentralized BitTorrent File System (BTFS).
Technology
The technology behind BitTorrent [New] (BTT) is multi-layered. At its core, BTT is a TRC-20 token, leveraging the security and efficiency of the TRON blockchain, which uses a Delegated Proof-of-Stake (DPoS) consensus mechanism. The most significant technological component is the BitTorrent Chain (BTTC), a heterogeneous cross-chain interoperability protocol. BTTC utilizes a Proof-of-Stake (PoS) consensus and employs sidechains to process transactions, enabling communication and asset transfer between TRON, Ethereum, and BNB Smart Chain. This architecture allows BTT to function within a multi-chain environment, enhancing its scalability and utility for dApps and DeFi services.
Tokenomics
Following a redenomination plan, the total supply of BitTorrent [New] (BTT) was increased to 990 trillion tokens. This was a 1:1000 split from the original BTT (now BTTOLD). The token's utility is central to its tokenomics. BTT is used within the BitTorrent Speed feature, where users can bid tokens for priority access to faster download speeds. It is also the currency for the BitTorrent File System (BTFS), a decentralized storage network. Furthermore, BTT can be used for tipping creators on the DLive streaming platform. Staking BTT on the BitTorrent Chain (BTTC) is another key function, allowing holders to earn rewards while contributing to the network's security.
Ecosystem
BitTorrent [New] (BTT) operates within the expansive TRON ecosystem, benefiting from its established infrastructure and user base. Its unique position stems from tokenizing the BitTorrent protocol, which already had over 100 million active users before the token's creation. This provides a massive, pre-existing network for adoption. In the competitive landscape, BTT's primary rivals are other decentralized storage and content delivery networks like Filecoin (FIL) and Arweave (AR). However, BTT's strategy of integrating a crypto-economic layer into a globally recognized P2P network, combined with its cross-chain capabilities via BTTC, gives it a distinct advantage in bridging legacy P2P technology with modern blockchain applications.
Frequently Asked Questions
BitTorrent [New] (BTT) is a TRC-20 utility token on the TRON blockchain. It is the native token of the BitTorrent ecosystem, designed to incentivize users and enable a token-based economy for file sharing, decentralized storage (BTFS), and content streaming (DLive).
You can buy BitTorrent [New] (BTT) on major cryptocurrency exchanges like Binance, KuCoin, and Kraken. Typically, you will need to create an account, complete verification, and then purchase BTT using fiat currency (like USD, EUR) or by exchanging it with another cryptocurrency such as Bitcoin (BTC) or Tether (USDT).
The new BTT is the result of a redenomination plan where the original BTT (now BTTOLD) was swapped at a 1:1000 ratio. This means for every 1 BTTOLD, holders received 1000 new BTT. This change was made to support the launch of the BitTorrent Chain (BTTC) and increase the token's granularity for DeFi applications.
BTT's primary use cases include: 1) BitTorrent Speed, where users can pay BTT for faster download speeds. 2) BitTorrent File System (BTFS), for paying for decentralized data storage. 3) DLive, for tipping and rewarding content creators. 4) Staking on the BTTC network to earn rewards.
Yes, you can stake BitTorrent [New] (BTT) on the BitTorrent Chain (BTTC) network. By staking your BTT tokens, you help secure the network and validate transactions, and in return, you earn staking rewards. This can be done through compatible wallets that support BTTC staking.
BitTorrent [New] (BTT) is a widely listed token. You can trade or sell it on numerous global exchanges, including Binance, Huobi Global, KuCoin, Gate.io, and Poloniex. Always check the specific trading pairs available on your chosen exchange.
BitTorrent Chain (BTTC) is a layer-2 scaling and cross-chain interoperability protocol. It connects the TRON, Ethereum, and BNB Smart Chain blockchains, allowing for the seamless transfer of assets between them. It uses a Proof-of-Stake (PoS) consensus mechanism to achieve high throughput and low transaction fees.
The security of BTT is twofold. As a TRC-20 token, its transactions are secured by the TRON blockchain's Delegated Proof-of-Stake (DPoS) consensus. Additionally, the BitTorrent Chain (BTTC) has its own Proof-of-Stake (PoS) mechanism, where validators stake BTT to secure the cross-chain network and process transactions.
