BitTorrent (BTT Token) Wants to Increase Tron’s Presence in the Market
Tron (TRX) seems to keep growing and doing a good job to bring cryptocurrencies and blockchain technology to the masses.
A few days ago, Binance founder, Changpeng Zhao, wrote on Twitter that the platform finally finds a decentralized currency and a business model.
The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study.
— CZ Binance (@cz_binance) January 5, 2019
Several individuals and crypto enthusiasts liked and shared the tweet. Back in 2018, the Tron acquired BitTorrent in order to improve its business and expand Tron’s reach to several new users. However, BitTorrent is going to have its own token called BitTorrent Token (BTT).
The main intention behind BTT is to improve the user experience on the platform through a wide variety of mechanisms. According to BTT’s white paper, participation in the BTT transactions is required to be both fully disclosed and optional for end users.
The official BTT white paper reads as follows:
“Optimizing the existing BitTorrent protocol is an obvious first step in the introduction of a cryptographic token but it barely scratches the surface of what is rapidly becoming possible.”
Users will be able to store a value from sharing small amounts of infrastructure and they can spend it later. This is why they are currently developing new services and preparing to open the platform up for new developers.
The main mission of BitTorrent is going to be divided into three main pillars: content delivery, file storage, and privacy-protecting proxy services.
The BTT white paper is clear in the sense that it explains that users have always paid for their downloads with bandwidth. With the implementation of a new fungible token into the system, the economy can expand and benefit all users on the platform.
In the white paper, the BitTorrent Foundation explains that due to bandwidth asymmetry, some users can get a partial free ride. This is something that would affect some users but it would not create a generalized problem. In general, the system would work well and adding a token would make it even better.
BitTorrent has a very large user base after being launched back in 2001 and it has 100 million people using the protocol every single month. Tron is now planning to improve the network and increase the number of crypto users around the world.