Buy BitTorrent (BTT)

What is BitTorrent?

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.

How does BitTorrent work?

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.

What are the potential use cases for BitTorrent?

BitTorrent has numerous use cases that leverage its decentralized file-sharing capabilities:

• File Sharing and Storage: Facilitates high-speed downloading and storage through BitTorrent Speed and BitTorrent File System (BTFS).
• Content Delivery: Provides efficient content delivery systems that allow users to pay for faster access using BTT.
• Proxy Services: Users can pay for proxy services to access files with poor internet connectivity.
• Decentralized Applications (dApps): Supports the creation of dApps that enhance file-sharing and storage.
• DeFi and Cross-Chain Interoperability: Utilises the BitTorrent Chain for interoperability across blockchains like Ethereum and TRON, enhancing its DeFi applications.
• Partnerships and Collaborations: Integrated into platforms such as CoinPayments for easy transaction processing.

What is the history of BitTorrent?

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.