04 Jan 2019 Pavel Petrov
BitTorrent Launched its own TRON-based Cryptocurrency
The pioneer of Peer-to-peer file transfer over the Internet, BitTorrent, has announced the launch of its BitTorrent Token (BTT). The token will be based on TRON’s protocol after TRON acquired BitTorrent in June.
With over 100 million users, BitTorrent claims the launch of their token will speed up file transfers and give BitTorrent users another way to monetize on file sharing.
The CEO of BitTorrent and co-founder of TRON, Justin Sun stated that utilizing the token „BitTorrent will provide millions of users worldwide with blockchain-based file sharing system. This giant leap will fast-forward blockchain innovation and give content creators new tools to distribute their contents to broader audiences.”
BitTorrent plans to give users higher file sharing speeds trough paid prioritization. The BitTorrent Token (BTT) is the refined version of “Project Atlas”, which was meant to be the largest P2P decentralized network in the world. The tokens can be exchanged for faster download speeds or given as a reward for utilizing storage and computing resources.
The token will be first launched as an ICO on Binance’s new Launchpad platform, alongside Fetch.AI. The ICO’s will start at the end of January, with Justin Sun estimating at least $70 million in funding, which will beat TRON’s own ICO results from 2017.
Binance’s new platform is meant to market test and launch successful ICOs. The coin offerings that Binance will put on their platform would undergo a series of selection processes to make sure the ICOs are compliant with law frameworks, the business plans of the companies offering the ICO are legitimate, and would the ICO be in help of the Blockchain ecosystem.
And while ICO interest dropped nearly 90 percent, Binance’s CEO Changpeng Zhao believes ICO ventures with proven benefit for the Blockchain ecosystem are going to be more and more of interest for investors worldwide. Also, the Malta-based Binance is looking forward to bringing Security Token Offerings (STOs) into the spotlight.TRON Binance TRON Foundation Binance Exchange Binance Launchpad BitTorrent Token