Ahead Of The BitTorrent File System Release, Tron’s BitTorrent Token BTT Surges
This Sunday, both the prices of BitTorrent Token (BTT) and TRON jumped up when Justin Sun made some announcement on Twitter.
— Justin Sun (@justinsuntron) May 26, 2019
Justin Sun and his projects are known for their formidable strength and potency in the blockchain space. The combination of Tron and BitTorrent has been recognized as the creation of the decentralized giant network, there is high certainty the network will increase the adoption of cryptocurrency considering the number of users that frequent the platform daily.
Regarding the BitTorrent File System [BTFS] SUN said:
“Welcome to the next generation of decentralized storage systems! #BTFS will be the largest decentralized P2P storage network with close to 100 million @BitTorrent user nodes, over 1000 #TRON full nodes, 27 SR nodes, and global #TronGrid nodes. 3 days left! Are you excited?”
Using BTFS, you can mount the torrent file or magnet link as a directory and then use it as any read-only directory in your file tree. The contents of the files will be downloaded on-demand as they are read by applications. Since BTFS runs on top of FUSE, it does not require intervention into the Linux Kernel.
will have around 100 million user nodes, Sun said, making it the largest decentralized peer-to-peer network.
As a testament to Sun’s ability to influence the market, the price of both TRX and BTT skyrocketed. Following Sun’s announcement, TRON jumped by 11 percent within two hours. MMeanwhile, BTT rose by 18% the same day, which showed that the crypto industry was betting on something big going on with BTT.
Misha Lederman, a prominent advocate for BTT said the following regarding the anticipated release:
“With its ICO raising $7 million 3 months ago, @BitTorrent now has a market cap of $340 million. Realizing that BitTorrent Speed, BitTorrent Live & #BFST launching very soon is mind-boggling.”