The BitTorrent Token is a Tron-based cryptocurrency that went live only yesterday. And in that single day, it’s managed to have the highest daily volume at Binance, which is one of the world’s most important cryptocurrency exchange platforms in the world.
Just over the last 24 hours, it’s been traded at the tune of 25,555 Bitcoins (81 Million USD). Not impressed? Well, remember it’s only the coin’s first day of existence and the BitTorrent network ( a hundred million users monthly, the world’s largest decentralized user base ) is not yet integrated into Tron’s blockchain so this is a token that’s becoming traded and valuable even before it’s main use case is a reality.’
BTT’s trading volume, on its first day, was 62 BTC higher than XRP, ETH, Troni, and BNB put together. And, again, it’s just getting started.
There are airdrops scheduled to happen to start this February 11th for TRX holders in selected digital wallets. So the current trading volume, high as it is, will be nothing compared as the volume we’ll see over the next couple of weeks as the airdrops happen and some happy TRX holders get a bit of free BTT tokens in their wallets.
Oh, so you don’t know what BTT is yet? Ok, let us give you a hand with that.
Tron is a third generation blockchain project with a very ambitious goal which is to decentralize the web and turn it into a blockchain network. Yes, it sounds too romantic, too idealistic, but it is possible, and BTT is one of the reasons why it could actually happen at some point in the future.
BitTorrent is a file-sharing network. It’s huge. It’s actually the world’s largest network when it comes to content distribution (movies, music, software, books and audiobooks, all kinds of things) and it’s decentralized already, which is one of the reasons why the network’s philosophy is in line with Tron’s ambitions.
And that’s why the Tron Foundation bought the BitTorrent network a few months ago. After completing the operation, Tron announced that BitTorrent would become a blockchain network running on Tron’s network and blockchain. The integration of both networks is called “Project Atlas,” and it will be completed over the next few months (we still have no fixed date for that).
The BTT token will change the game for BitTorrent users. So far, BitTorrent users choose the content they want to download and keep their clients online as long as they need to complete the downloads. Some of them keep their files online for a bit while they use it or save them externally in some way, but there’s never been any incentive to keep your content online other than altruism or the download/upload rate required by some BitTorrent communities.
That’s about to change. When Project Atlas becomes a reality, users will get some passive income by seeding their files in the network. Once your download is completed, if you leave it there for other users to download you’ll be rewarded for your bandwidth and computing resources with a cryptocurrency called the BitTorrent Token (BTT).
The token is already available at Binance and a few other selected platforms, and it’s already exploding. And if you’re one of those guys who like the Tron ecosystem and have a few TRX stored in your wallet, then you will get a few BTT for free over the next few weeks. Stay tuned! Great things are afoot at Tron and BitTorrent.
[Image courtesy of maxpixel.net]
Disclaimer: All information provided through this article should not be regarded as investment advice, nor should be taken for granted for crypto trading purposes. Before making any investment or trading plans, make sure to inquire about the information diligently by carrying out your very own research. Thank you.