Publish content at a low cost
BitTorrent, a name that may seem familiar to many Internet users today. Digital currency is a peer-to-peer communication protocol for sharing files with a community of more than 100 million Internet users. The protocol was founded by an American company and launched by Bram Cohen in San Francisco, California. But today the main manager of this currency is Justin Sun, the founder of Tron.
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What is BitTorrent (BTT)?
BitTorrent was launched on September 22, 2004, and was later acquired by Theron founder Justin Sun. BitTorrent was then relocated to its headquarters in Singapore.
BitTorrent digital currency is a TRC-10 code and was launched on Binance Launchpad with the symbol BTT.
BitTorrent is a P2P file-sharing network. The project that led to the introduction of BTT tokens on the BitTorrent network was known as the Atlas Project.
So how successful is the BitTorrent network? The Torrent Foundation announced in its White Paper that it has 100 million active users. It also claims to be the largest decentralized protocol in the world, surpassing Bitcoin.
What problems does BitTorrent solve?
The Internet is built on decentralized architecture and is not overseen by any central authority. In December 1995, the number of Internet users was 16 million. The number of Internet users increased more than 20 times in 2020 to 360 million. To this date, there are more than 4.7 billion users worldwide using the Internet. Since last year, a total of 900,000 new uses have started using the Internet every day.
BitTorrent provides an efficient way to share files using the decentralized architecture of the Internet. This is one of the most cost-effective options for publishers who want to share large files.
The general public can also enjoy the benefits from the BitTorrent network because content publishers can upload large files for very little cost. Because uploading and sharing content become cheaper, it reduces the cost of content. Hence, society has to pay less for content.
How to save BitTorrent (BTT)
If you want to make a big investment in BitTorrent (BTT) or if you want to hold this digital currency for a long time, hardware wallets are the best option. Hardware wallets store your currencies offline in the "cold storage". This strategy makes online threats impossible to access your assets. Ledger Nano S and Ledger Nano X both support BitTorrent (BTT).
If you want to buy this currency for daily trading, you can use mobile wallets. Trust Wallet and TronLink Pro wallets can also be good options for you.
BitTorrent - File sharing protocol
Adding the BTT network was a strategic decision that worked well for the BitTorrent network. This led to more users joining the BitTorrent network. A large amount of data and the low cost of sharing large files will sooner or later attract prominent content creators. When large content creators join the BitTorrent network en masse, the network shows its true value and strength.
Tron now controls the BitTorrent protocol and seeks to integrate blockchain technology into the ecosystem, creating a self-sustaining economic model in which users are motivated to share and download content.
There are also some doubts about the rapid rise in the price of the BTT token, with some claiming that the rise is nothing more than Justin Sun-inspired advertising and that the price will fall as soon as coin production stops.
Others feel that the creation of this popular file-sharing service is a genius, and it is the beginning of a great success story in the blockchain industry.
Keep this in mind, too, and know that while this project holds great promise, it will take at least several months for the most basic incentives to be added to BitTorrent, and if that happens, then is the best time to invest in it. Because it can multiply the value of your assets.