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BitTorrent aims to tokenize the decentralized file-sharing protocol with their cryptocurrency asset launched early in 2019. BTT represents a TRC-10 utility token based on the TRON blockchain that could allow content creators to connect with their audience, earn and spend digital currency without a middleman. According to their website, BitTorrent (BTT) tokens can be bid in exchange for faster downloads or stored in a wallet built into the BitTorrent client.
Both BitTorrent and parent company TRON share a vision of a decentralized internet without barriers.
Tron and Tron-based tokens have surged between 500% and 4000% on the FTX exchange as the exchange pursues alternative options to get out of its liquidity crunch.
The crypto market has been largely uneventful for the past few months.
The sudden rising craze around farming the Chia coin has resulted in massive demand for SSD and enterprise-grade storage hard drives. This has further pushed the surge in the price of these hard drives by 50-60%.
The ongoing rally in the BitTorrent (BTT) ecosystem may be linked to heightened interest in the protocol following the announcement of key upgrades including the increase in the BitTorrent File Sharing (BTFS) network decentralization.
BitTorrent Inc., the leader in peer-to-peer (P2P) technology, hosted Link the Future: BitTorrentX Product Release virtual conference on December 16th 2020.