What is BitTorrent?

BitTorrent (BTTOLD) is a decentralized peer-to-peer (P2P) file sharing and torrent platform that has gained recognition due to its increasing decentralization. Launched in July 2001, BitTorrent was acquired by the blockchain platform TRON in July 2018. Since the acquisition, BitTorrent has introduced new tools and a dedicated native cryptocurrency token, BTT, which was released in February 2019. BTT was launched on TRON’s blockchain, using its TRC-10 standard. BitTorrent seeks to offer an alternative to the traditional entertainment industry by providing a platform for direct content distribution among internet users. It is currently recognized as a large decentralized P2P communications protocol globally.

How does BitTorrent work?

BitTorrent operates by allowing users to share files such as music and movies among themselves, eliminating the need for a central server. The platform segments any file being distributed into many pieces, which make up the complete file. These pieces are uploaded by users who have them and downloaded by users who need them. BitTorrent also introduced BitTorrent Speed, a feature that uses the BTT token as part of its operations. Users may provide BTT tokens to other users, potentially leading to faster download speeds. This incentive encourages users to seed files longer, contributing to a healthier BitTorrent protocol.

What are the potential use cases for BitTorrent?

BitTorrent's primary use case is to provide a decentralized platform for file sharing and torrenting. It allows users to distribute content directly among themselves, bypassing traditional distribution networks. This aims to make obtaining material more efficient and potentially less costly. BitTorrent also offers paid services, including several versions of its platform that include VPN capabilities and ad-free browsing. Furthermore, BitTorrent Speed uses the BTT token to incentivize users to seed files longer, contributing to more efficient download speeds for all users in the network.

What is the history of BitTorrent?

BitTorrent was originally released in July 2001 by developer and entrepreneur Bram Cohen. Cohen designed BitTorrent with the intention of offering an alternative to the traditional entertainment industry, which he saw as slow and costly. Despite facing multiple legal battles, Cohen maintained that BitTorrent does not break copyright laws. In 2018, BitTorrent was acquired by TRON, a blockchain platform. Under TRON's control, BitTorrent expanded its user appeal to those interested in decentralized solutions and cryptocurrency. The BTT token was released on TRON’s blockchain in 2019 as part of TRON’s intention to incorporate more decentralized features into the platform.