Peer-to-peer torrent client BitTorrent, which was acquired by TRON last year, has now launched a native token, BitTorrent (BTT). According to the press released by the company yesterday, the token was developed on the Tron network.
BTT token to bring improvements to BitTorrent users
The token developed will be very useful for users of BitTorrent as it will help optimize the network speed and lead to faster downloads via paid prioritization. This latest development means this is the first time that BitTorrent is making a move to begin tokenizing its content sharing platform which has over a hundred million people using it.
The tokens will be issued by the BitTorrent Foundation and have been designed to be compatible with native TRC-10. This implies that the cryptocurrency will comply with the token standard supported by the Tron Network.
The BTT token is also set to be available on Binance’s “Launchpad” program to accounts only outside the United States. The distribution of the token will be done selectively through airdrops before the end of the month.
According to the press release by the company, the creation of the token is one of the steps taken by BitTorrent to develop a decentralized content distribution platform using cryptocurrency. They further claimed that their protocol has now become the largest decentralized P2P network in the world as it accounts for roughly 22% of upstream and 3% of downstream traffic globally.
BitTorrent revealed that the implementation of the tokens would start on BitTorrent’s Windows-based “µTorrent Classic” client, with uTorrent regarded as the most popular application of the company.
TRON and BitTorrent integration still on track
Tron and BitTorrent had previously developed a roadmap for the mutual integration of the two platforms in a formal initiative called “Project Atlas”. Back in September, the two jointly released further details on the project and they pointed out that tokens in the ecosystem would be used as incentives. The project might help the cause to make cryptocurrencies more relevant for mass adoption.