BitTorrent (BTT) is a decentralized file-sharing protocol that enables users to exchange data and electronic files over the internet in a peer-to-peer (P2P) network. It uses blockchain technology and cryptographic algorithms to secure and facilitate the process, making it anonymous and efficient. The BitTorrent network operates without a central authority, empowering users to share bandwidth and storage space through a system that incentivizes participation using its native token, BTT.
BitTorrent operates on a peer-to-peer network where files are divided into smaller pieces and shared among users, known as seeders and peers. Seeders are users who have the complete file and share it with peers, who download parts of the file from various seeders simultaneously. The BitTorrent protocol allows for effective and high-speed distribution of large files without burdening a central server. Additionally, the BitTorrent Chain (BTTC) integrates blockchain technology for cross-chain interoperability and enhanced security, using Delegated Proof of Stake (DPoS) as its consensus mechanism.
BitTorrent has numerous use cases that leverage its decentralized file-sharing capabilities:
BitTorrent was invented by Bram Cohen in 2001 as a revolutionary file-sharing protocol. Its development was influenced by Cohen's experiences with MojoNation, a platform that introduced the concept of decentralised file sharing. BitTorrent Inc. was formed in 2004 by Cohen, along with his brother Ross Cohen and Ashwin Navin. Over the years, BitTorrent gained popularity for its efficiency in distributing large files and underwent significant milestones including a strategic acquisition by TRON in 2018, marking its integration with blockchain technology. The release of the BitTorrent Token (BTT) in 2019 further aligned BitTorrent with the decentralised financial ecosystem, enabling incentivised participation in the file-sharing process.