Decrypt • Jul 30, 19
The BitTorrent token’s flagging price is making it unusable
Everybody wants Tron’s BitTorrent revamp to succeed. But until the token price outweighs operational costs, it’s proving futile.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of BitTorrent has risen by 1.54% in the past 7 days. The price declined by 1.93% in the last 24 hours. In just the past hour, the price shrunk by 0.44%. The current price is $0.000456 per BTTOLD. BitTorrent is 95.44% below the all time high of $0.0100.
The current circulating supply is 990,000,000,000 BTTOLD.
is a popular distributed communication technology that allows huge, in-demand data distribution. The eliminates the need for maintaining a central server. 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. (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.
The BitTorrent protocol was created by a company named BiTorrent Inc and founded by 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 of BitTorrent was published in February 2019.
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.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 BitTorrent currently costs $0.000456.
The current market cap of BitTorrent is $686.04M. A high market cap implies that the asset is highly valued by the market.
The all-time high of BitTorrent is $0.0100. This all-time high is highest price paid for BitTorrent since it was launched.
Over the last 24 hours, the trading volume of BitTorrent is $166.38K.
The current circulating supply of BitTorrent is 990 billion.
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