Hackernoon logoWhat’s with the hype around BTT? by@guarda

What’s with the hype around BTT?

image
Guarda Wallet Hacker Noon profile picture

@guardaGuarda Wallet

BitTorrent token (BTT) is quite a trending topic now in the crypto community. There are 990 Billion tokens created on the TRON blockchain and 10.1% of it will be distributed through the airdrops to TRX holders. An interesting fact also is that it is not a one-time drop to wait for — the tokens will be gradually given away over the course of the next six years, starting from February 11th. The news gets even better from this point — as the time passes by, the airdrops will scale with increasing the distributed sum.

Justin Sun, the founder of TRON and the CEO of BitTorrent considers BTT tokens to be the way for the companies to create a new type of internet economy, driven by decentralisation.

The tokens are distributed among TRX holders proportionally.

BTT — a brief overview

BitTorrent is a peer-2-peer network created in 2004. The software that BitTorrent offers the opportunity to quickly download files from one or many different sources. There are no limits to the number of files or the amount of data to be downloaded.

TRON acquired BitTorrent last year and, after some time, announced creating a new token named BTT. BTT is meant to be used with the file-sharing services. The hype about BTT launch started instantly and the public sale for the token sold out in no time. The press release for the token states that BitTorrent has already been working together with CoinPayments on supporting TRX, BTC and BNB as a payment method for premium services. As BTT gets added to the supported crypto list, the users will reportedly gain the ability to use the token to pay for BitTorrent and µTorrent Pro subscriptions.

There is more use to BTT in BitTorrent’s plans — the platform is promising to roll out a blockchain application powered with BTT as a part of µTorrent Classic client.

When it comes to the technical side of the project, the users can hold the tokens in their own wallets or on exchanges — Binance, Tron Wallet, Trust Wallet, OKEx and others (including Guarda) have already announced their support for BTT.

Besides the announced airdrops, there are other surprise plans coming from the collaborators — as the Twitter of Justin Sun states “We’ll have a secret campaign released on Valentine’s Day for TRON and BitTorrent! Numerous celebrities will be on board. FYI, one of the main character in Friends, one winner of 3 Golden Globe Awards & one winner of 4 Super Bowl titles.”

Tags

Join Hacker Noon

Create your free account to unlock your custom reading experience.