BitTorrent Speed: Will BTT Token Power the Biggest Blockchain App?
BitTorrent is a pioneer digital platform for a distributed communication protocol, invented by Bram Cohen in 2001. The platform embraces a peer-to-peer protocol, which uses economic incentives to facilitate the delivery of large and highly demanded files within the internet, thus eliminating the need for a trusted central server.
The open protocol has been in operation for the past sixteen years working independently and incorporated in software download and installation. Today, the platform is in regular use on more than 100 million internet-computing devices each month. BitTorrent Enhancement Proposals (BEPs) is an open process that continuously updates the protocol. The BEPs is moderated on the developers’ website.
BitTorrent protocol has been implemented several times with fair competition between companies maintaining different implementations and many popular volunteer-maintained versions. Additionally, infrastructure providers independently offer additional useful services such as trackers, which introduce pierce, torrent sites that index metadata on shared files and provide access to their associated torrents.
At the same time, there is client software that implements the BitTorrent protocol. This indicates how many collections of cooperating distributed elements, clients, and semi-distributed elements, trackers and torrent sites, have succeeded in maintaining the previous and highly robust ecosystem even in the presence of highly motivated attackers.
The BitTorrent Protocol enables clients to collaborate with each other to enable efficient and reliable distribution of large files to many clients. It is capable of doing this by trying to make efficient use of every client upload and download bandwidth simultaneously. This is done to balance peer-to-peer delivery of content across multitudes of cooperating clients and reduce the resilience on any single weak point.
The protocol operates on a system that cuts the files into pieces and trades them between multiple devices that are trying to get the file simultaneously. Infoashes of the pieces is used to verify that the pieces being shared are actually the requested pieces.
The system operates on a barter economy in which clients collaborate based on trading pieces of a file each of them are trying to download. Delivery bandwidth is used as a deciding factor for whom to keep trading with.
BTT Cryptographic Tokens And Blockchain
The platform is introducing TRON TRC-10 cryptographic token called BitTorrent (BTT). BTT will serve the general-purpose mechanism for transacting in computing resources shared between BitTorrent clients and other participating service requesters and service providers. The token will be the main unit of transactions for the provision of different services.
Besides, the token is set to be made available as a divisible token allowing very fine grain pricing and evolving set of services. BitTorrent Inc. will deploy an “on-chain/off-chain exchange,” which facilitates the transfer of tokens between a ledger of high performance and the public TRON blockchain.
BTT Token Issuance
The platform will create a total supply of 990,000,000,000BTT, which will be divided as follows:
- The allocation of BitTorrent, Inc. Torrent client users as part of client install and onboarding.
- Allocation to existing TRS holders who are the initial supporters and investors
- The BitTorrent Foundation and team
- TRON Foundation