Since its acquisition, last year by Tron Foundation, BitTorrent (BTT) has quickly made a name for itself as one of the world’s most relevant blockchain protocols. Delivering sweeping changes to its customer base, BitTorrent continues to come up with innovative ways to stay afloat in the murky market with the introduction of its new blockchain-based product, BTT.
BitTorrent token, which goes by the ticker BTT, is a cryptocurrency that came to existence in early 2019 after the collaboration between BitTorrent and Tron. The main aim of the BTT token is to tokenize popular file-sharing protocols that have the potential to enhance customer bandwidth availability and content delivery with the assistance of blockchain technology.
At present, BTT is a TRC-10 virtual asset that is based on the Tron platform, a makeup that can be compared to ERC-20 virtual assets that run on top of Ethereum’s platform.
Since early this year, BitTorrent Token BTT has gained traction and the support of almost 36 crypto exchanging platforms and wallets, positioning it to become one of the world’s leading cryptocurrencies.
To further reach this goal, BTT mother company BitTorrent is positioning itself to promote the advancement of BTT-enabled projects, enriching the development of BTT’s ecosystem, broadening use cases among many other things by officially launching three programs. The new incentive programs will be for uTorrent and BitTorrent users, partners, and network as described by Tron and BitTorrent CEO Justin Sun:
“With these new three incentive programs, we intend to introduce a new constituency into the blockchain ecosystem and make our powerful technology accessible with products ordinary people require daily,”
“What we are creating will be of benefit to a billion businesses, active Tron and BTT users, and computer installed base.”
What are the Incentives?
Since the company’s inception in 2004, BitTorrent users have downloaded and used the application on over 1 billion gadgets. The P2P software company currently serves over 100 million active subscribers globally, and the tokenization of its network through BTT is progressing well. The incentives, the tech company hopes to be a game-changer for them are Partner incentives, Ecosystem incentives, and User incentive.
1.6 Billion Tron-powered BTT tokens wired from an unknown wallet to Binance
Yesterday, an unknown user transferred over 1.6 billion BitTorrent Tokens, BTT, worth 1.04 million USD from an anonymous wallet to a wallet on Binance. According to reports from Whale Alert, the transfer took place at around 03:00 UTC leaving the sender with zero balance on their account but with 0.1 TRC on their virtual wallet.
— Whale Alert (@whale_alert) July 3, 2019
As for the receiver, it is interesting to note that at the time of writing, they have a total of 280 million TRX tokens and a massive collection of 39.11 billion BTT among other cryptocurrencies in their wallet. The receiver had roughly over 40 trillion TESTTWO tokens, 1 billion TronKey’s and an impressive list.
Being a TRC-10 cryptocurrency that is based on Tron’s network, BTT fosters faster speeds on the world’s most significant decentralized application. Additionally, BTT’s official website indicated not too long ago:
“BitTorrent protocols for all torrent clients and users are optimized by BitTorrent Speeds. BTT tokens are available for bidding in exchange for faster downloads. Users should not worry as our BTT tokens will be stored in an in-built wallet that can be exchanged for TRX through a decentralized exchange.”
At the time of writing, BTT is ranked at number 36 on CoinMarketCap. Tron’s baby currently trades at $0.001288 with a market cap of about $273 million after going down by 2.03% in the last 24 hours.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.