What is BitTorrent (BTT)?

BitTorrent is a peer-to-peer protocol that facilitates the transfer of large, highly demanded files, eliminating the need for a trusted central server. The BitTorrent protocol enables client software endpoints (“clients”) to collaborate to enable reliable simultaneous distribution of large files to multiple clients, reducing reliance on any single weak point (such as a server connection). It does this by attempting to make efficient use of every client’s upload and download bandwidth to balance peer-to-peer content delivery across all clients. 

To find a peer with a file or portion thereof, peers either “announce” to a tracker, a server that keeps track of which peers have which files available, or find them via the DHT, a distributed database of peers. Through this process, all peers are naturally segmented into “swarms” of users, with every user in each swarm having a common interest in exchanging pieces of a specific file. Before an exchange begins, files are cut into pieces. 

Clients advertise which pieces of a file their user has available, and those pieces are uploaded by users who have them and downloaded by users who need them. Cryptographic hashes, or “info hashes,” are used to verify that the shared pieces are the requested pieces. The more pieces a peer receives from another peer in exchange for pieces sent, the more productive a peer-to-peer interaction is considered to be. 

The most productive piece exchanges are rewarded with further pieces, and the clients with the least productive exchanges are deprecated, disconnected or banned. Once a user has completed a download, they may allow their client to continue uploading pieces despite needing no download in return; this is called “seeding.” The default for most clients is to “seed” to other downloaders. This activity, however, is entirely altruistic. There is no economic penalty for users closing their BitTorrent client once a download has finished.  

The BitTorrent Ecosystem BitTorrent Inc., which maintains the BitTorrent protocol, also created two of the most popular BitTorrent clients: BitTorrent and µTorrent (“uTorrent”). The open protocol has also been used to create dozens of independent clients, and there is healthy competition among the companies and volunteers that maintain those clients.

BTT is a TRC-20 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications worldwide. DApps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline.

 

Who are the founders of BitTorrent (BTT)?

Born in October 12, 1975 (age 47), Bram Cohen is an American computer programmer, best known as the author of the peer-to-peer (P2P) BitTorrent protocol in 2001. He is also the co-founder of CodeCon and organizer of the San Francisco Bay Area P2P-hackers meeting.

 

What is BitTorrent (BTT) used for?

Incentives 

With BitTorrent Speed enabled, downloaders can provide tokens to uploaders in exchange for faster download speed. By introducing an incentive to earn BTT tokens, uploaders have a reason to seed files longer and dedicate more of their bandwidth and storage to other torrent clients in the network. BTT, which serves as a crypto torrent token in BitTorrent Speed, is responsible for powering a healthier BitTorrent protocol.

Faster download speed 

BitTorrent Speed automatically bids BitTorrent (BTT) to other users for faster speeds when downloading torrents. Just use the torrent program like normal. There is nothing else you need to learn or do.

Store token

When a torrent file finishes downloading, you can automatically earn BitTorrent (BTT) by seeding. The integrated wallet allows for secure storage of your BTT, which you can send to other wallets.

File sharing 

BTFS is a protocol and network implementation that provides a p2p mechanism for storing and sharing digital content in a decentralized filing system.

File storage 

Traditional file storage systems have many disadvantages, including centralization or control by a single entity, the ability for governments to censor, higher costs, and low fault tolerance. BTFS is a decentralized file storage system supported by millions of BitTorrent user nodes. It represents the first decentralized storage system that decentralized application (DApp) developers can use. 

Content streaming 

DLive is a live-streaming community built on blockchain that empowers content creators and viewers.

Earning and influencing 

Through a revolutionary rewards system, broadcasters and viewers can earn without sharing their proceeds with the platform. As DLive moves towards decentralization, the aim is to create a more open content platform.

 

How is BitTorrent (BTT) unique?

Independent BitTorrent infrastructure providers offer additional services, such as trackers that introduce peers and torrent sites that index file metadata and provide access to their associated torrents. With over 1 billion users, the BitTorrent protocol is the world’s largest decentralized protocol. Its number of users far surpasses Bitcoin, the second-largest decentralized application (as of January 11, 2018, Bitcoin had a total of 32.3 million addresses ). 

In the last 18 years, BitTorrent clients have been downloaded and installed billions of times. The two clients created and maintained by BitTorrent Inc. are used today by more than 100 million monthly active users worldwide, with around one million new software installs daily. Over 160 countries have more than 10,000 BitTorrent protocol users, and 23 countries have more than 1 million protocol users. 

BitTorrent Inc. clients account for an estimated 40% of BitTorrent protocol activity on the public internet. In 2018, BitTorrent formed a strategic partnership with TRON. TRON is a blockchain platform created to provide the foundation for decentralized applications. The collaboration between BitTorrent and TRON makes the TRON blockchain protocol the world’s largest decentralized ecosystem and the BitTorrent protocol the largest decentralized application in the world. 

BitTorrent, as a protocol, has never provided any identity service beyond identifying a client on a particular IP + port number. Essentially, BitTorrent identifies instances of software running on machines – not people. This is analogous to the identity framework behind cryptocurrencies. If a user has access to the cryptographic token wallet software that stores a token, then it is generally assumed that it is that user’s token. 

With the implementation of BTT, we expect to follow a similar approach to identity, tying BTT tightly to a participating piece of client software. Beyond possibly placing a password on that wallet, we do not anticipate that the BTT project will directly give rise to the need for an additional layer of identity management in BitTorrent. 

Users of BitTorrent Inc.’s torrent clients, and possibly other torrent clients who choose to implement the required set of protocol extensions, will be able to submit a CAPTCHA or proof of work that will allow them to access an initial balance of BTT.

 

How is the BitTorrent (BTT) coin in circulation?

BTT Token Issuance We will create a total supply of 990,000,000,000 BTT. Issued tokens will be distributed in the following proportion: 

  • Public sale tokens constitute 6% of the total token supply
  • Private sale tokens constitute 2% of the total token supply 
  • Seed sale tokens constitute 9% of the total token supply 
  • Tron airdrop tokens constitute 10.1% of the total token supply, to be spread out over the next six years 
  • BitTorrent protocol airdrop tokens constitute 10% of the total token supply
  • BitTorrent Team and the BitTorrent Foundation were allocated 19% of the total token supply 
  • TRON Foundation received 20% of the total token supply 
  • BitTorrent ecosystem is allocated 19.9% of the total token supply 
  • Partnership tokens constitute 4% of the total token supply.

 

How is the BitTorrent network secured?

The BitTorrent Remote servers do not see the details of your torrent activity. If you add a torrent, the developers know that a torrent was added, but not the torrent URL or infohash. BitTorrent Remote uses a cryptographic protocol called SRP, the Secure Remote Password protocol. SRP is an authentication and key-exchange protocol. 

In BitTorrent Remote, your web browser serves as the client, and your BitTorrent client as the server. The BitTorrent Remote servers act only as a channel between the two. When you log in to BitTorrent Remote, your browser uses JavaScript to authenticate to your client without ever sending the password over the connection. As a byproduct of this authentication, SRP allows each side (browser and BitTorrent client) to independently arrive at the same value for a cryptographically-strong secret. 

The AES encryption standard uses this secret as a session key to encrypt the request’s body (which contains the infohashes, URLs, etc.). This occurs entirely in your web browser before the request is sent to BitTorrent Remote for proxying to your BitTorrent client.

 

How do I buy BitTorrent (BTT)?

The BTT token can be used for a wide range of uses, like staking and governance.

BTT tokens can be easily purchased by following the following steps. 

Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy BTT through your trading account.

 

Which Cryptocurrency Wallet Supports BitTorrent (BTT)?

The PTPWallet platform supports many cryptocurrencies, with BTT soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.

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