BitTorrent (BTT) is Now Available on CoinAll
According to a recent tweet by Justin Sun, the Founder of TRON Foundation and CEO of BitTorrent, BTT is now available on CoinAll.
— Justin Sun (@justinsuntron) February 26, 2019
CoinAll is a community-driven cryptocurrency exchange. It is well-known and well-liked in the crypto community due to its community-driven nature.
In an official Medium article, BitTorrent announced that it would soon start accepting BTT for Pro features and ad-free products.
In the article, the team said:
“In our continued effort to introduce decentralized currencies into BitTorrent’s decentralized products, we are pleased to announce that customers will soon be able to pay for BitTorrent Pro and Ads Free with BitTorrent token (BTT).”
Adding to that:
“BitTorrent, which currently accepts TRX, BTC and BNB for its premium products, has plans for various uses of BTT, including in its live stream protocol currently in development and other products and services.”
“Announced on January 17th, BitTorrent Speed is planned to be widely available by Summer of 2019 on the popular µTorrent Classic Windows client. By connecting and rewarding users with BitTorrent tokens (BTT), BitTorrent Speed aims to create the world’s largest blockchain application for fast uploading and downloading of files.”
Quite a lot of crypto exchanges have already announced their support for the upcoming BTT airdrop. For those who don’t know what BTT is, here’s what their whitepaper has to say:
“TRON Foundation and BitTorrent Foundation are introducing a new cryptographic token called BTT along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet. Our initial entry point is to introduce token-based optimizations to the existing BitTorrent protocol providing a way for the value of sharing bandwidth and storage to be captured by network participants beyond the point at which the current protocol no longer values it. Our longer-term vision is to broaden the usage of BitTorrent far beyond current use cases to provide a distributed infrastructure platform to third party app developers and to enable consumers to continuously distill small amounts of value from their devices by allowing others to make use of their spare resources.”
Giving a gist of how things would go about in the project, the whitepaper said:
“The first step in our project will create a market-driven mechanism to enable consumers to collaborate to optimize and prolong the lifespan of existing BitTorrent swarms. Using additional extensions to BitTorrent we will subsequently open up opportunities for distributed app developers to launch new apps making use of infrastructure provided by existing BitTorrent clients which already constitute a distributed networked storage platform of unprecedented scale. These new apps will be able to offer incentives (BTT) to users in return for access to cost effective platform resources comprised of an incredibly broad collection of already-deployed network endpoints. The position of these endpoints at the very edge of the Internet will have the additional appeal to developers of being extremely difficult for net-neutrality adversaries to interdict. Finally, the ability of consumers to capture the value of their contributed computing resources within a cryptographic token will give rise to a completely new transactional mechanism for internet consumers that is distinct from either their attention or their credit card.”
Explaining the project in more technical terms, the whitepaper said:
“We will extend the BitTorrent protocol and introduce a new TRON TRC-10 cryptographic token called BitTorrent (BTT) in order to implement a distributed infrastructure services economy. Within this economy, end users may offer infrastructure services in small increments in return for tokens, with a blockchain solution for a store of value and medium of exchange that will scale to meet the expected demand.”