As of today, the price of BitTorrent (BTT) is $ 0.00265730, which has decreased over the last 24 hours. The daily trading volume of BTT is marked at 1.0M.
BitTorrent (BTT) is a peer-to-peer file sharing protocol that has been incorporated into a digital currency within a blockchain environment. This popular protocol, used to send and download files over the Internet, has and currently powers multitudes of decentralized protocols and applications.
BitTorrent was originally created by programmer Bram Cohen in 2001, with BitTorrent, Inc. being formed in 2004 to oversee the project. The BitTorrent token (BTT) and its associated cryptocurrency project came much later, after BitTorrent, Inc. was acquired by Tron’s Justin Sun in 2018.
BitTorrent works by breaking large files into smaller chunks. These chunks are then shared in a decentralized manner from multiple sources or "peers". This simultaneous sharing of chunks between peers increases the efficiency of data transfer, reducing the need for a single centralized server.
The BitTorrent token (BTT) is utilized within this ecosystem, allowing users to bid for faster download speeds. Essentially, those who are willing to pay more in BTT tokens get their content delivered faster.
BitTorrent's unique edge is its successful pairing of a popular decentralized file-sharing protocol with a blockchain-based crypto system. This has brought a monetization aspect to file sharing and downloading, providing incentives for individuals to seed files for longer periods of time, thus ensuring the continued health of the file-sharing network.
BitTorrent is secured by the TRON blockchain, a decentralized network built with advanced protocols that prevent data alteration. This decentralization, which is achieved as every peer contributing to the network has a list of transactions, ensures the security and reliability of the data exchanged.
Currently, there are 932.5B BTT tokens in circulation. The max supply is set at 990.0B BTT.
BitTorrent token (BTT) is available to purchase on various cryptocurrency exchanges, such as DigiFinex, YoBit, Bitforex, Coinone, Indodax. It's important to note that cryptocurrency investments carry a high level of risk, and you should only commit funds you can afford to lose.
Storing your BitTorrent tokens (BTT) is simple as it is compatible with various digital wallet options. Each wallet varies in terms of security features and convenience, so it's important to choose the one that best suits your needs. Always remember to store your private keys in a safe location, as losing access to them means losing access to your tokens.
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