What Is BitTorrent (BTT)?
BitTorrent is a popular peer-to-peer distributed communication technology that allows huge, in-demand data distribution. The protocol eliminates the need for maintaining a central server.The BitTorrent protocol allows software endpoints (called "clients") to work together to ensure reliable simultaneous distribution of huge files to several clients, reducing dependency on any weak point (such as a server connection). The protocol strives to maximize the utilization of each client's upload and download bandwidth to balance peer-to-peer content delivery across all clients.
How the Protocol Works: Peers can find a file or a portion of a file by making an "announcement" to a tracker, which is a server that tracks which peers have access to which files, or by searching the DHT, a distributed database of peers. This process organically splits peers into "swarms" of users, with each swarm sharing a common interest in trading portions of a certain file.
Files are cut into fragments before an exchange occurs. Clients advertise which parts of a file are available to their users; then, users who have the required parts post them, which in turn allows users who require these parts to download them. Cryptographichashes (i.e. info hashes) of the parts/pieces are used to ensure that the parts shared are indeed the ones requested.
The more pieces a peer receives in exchange for pieces provided, the more productive a peer-to-peer contact is perceived to be. Clients with the most productive exchanges are rewarded with additional pieces, while those with the least productive exchanges are disconnected or banned.
After completing a download, a user can allow their client to continue uploading parts despite no longer requiring a download; this is known as "seeding." Most clients' default behavior is to "seed" to other downloaders. This behavior is completely selfless and voluntary. There is no financial penalty for customers who close their BitTorrent software once a download is completed.
The organization, however, identified a few insights :
Internet consumers are hesitant to utilize traditional currency to pay for digital goods and services online.
The BitTorrent protocol has fundamental inefficiencies that limit swarm longevity and, consequently, its overall effectiveness as a protocol.
There is a sizable unexplored market for applying BitTorrent technology to novel use cases.
BitTorrent aims to solve these issues by creating a platform for building decentralized web elements. The platform wants app developers to directly reward consumers who provide its underlying resources by allowing consumers to use this "found value" to transact with publishers and app developers without using traditional currency.The company intends to enhance the BitTorrent protocol and establish a new token, BTT, to implement a distributed infrastructure services economy. End users in the BTT economy should be able to supply infrastructure services in small amounts in exchange for tokens.
BTT is a TRON TRC-10 cryptographic token. BTT seeks to act as a general-purpose mechanism for transferring computer resources between BitTorrent clients and a market of service requesters and providers.
History of BitTorrent (BTT)
The BitTorrent protocol was created by a company named BiTorrent Inc and founded by Bram Cohen in 2001. BitTorrent Inc has also developed two very popular BitTorrent clients: BitTorrent and µTorrent ("uTorrent"). The open protocol has also been utilized to generate dozens of independent clients, and there is strong competition among the firms and volunteers that keep those clients up and running. The whitepaper of BitTorrent was published in February 2019.
How Are New BTT Coins Created?
The downloaders provide BTT tokens to the uploaders in return for faster downloading speed due to BitTorrent Speed acting as an incentive to earn BTT coins. While downloading torrents, BitTorrent Speed bids BTT automatically to other users for fast speed. BTT can also be earned by seeding when the downloading is completed.
