BitTorrent(BTT)

Overview

BitTorrent began as a peer-to-peer file transfer protocol conceived by Bram Cohen in 2001, and it became linked to blockchain technology when the TRON Foundation acquired BitTorrent Inc. in 2018. BTT is a token issued on the TRON blockchain; it launched as a TRC-10 token and was later redenominated into a TRC-20 token built around BitTorrent Chain (BTTC).

The token's main purpose is to let participants trade network resources such as bandwidth and storage. Its best-known feature, BitTorrent Speed, rewards seeders with BTT for uploading files while users who want faster downloads spend BTT to bid for bandwidth. BTT is also used as a payment method in related services such as the decentralized storage system BTFS (BitTorrent File System).