Buy BitTorrent

Founded in 2001, BitTorrent is a globally recognized peer-to-peer (P2P) file sharing protocol. Users can share data and large files such as movies, shows, and audio content through this protocol. In 2018, BitTorrent was acquired by Tron, founded by Justin Sun. This acquisition led to the integration of blockchain technology into the BitTorrent ecosystem, resulting in the creation of BitTorrent Token (BTT).

Previously, files were downloaded from a central server which limited bandwidth and availability. BitTorrent solved this problem by breaking files into smaller chunks and storing them on different devices within the network. Users can then download these chunks from different participants, ensuring faster downloads and better availability. To encourage participants to share available bandwidth, BitTorrent rewards them with BitTorrent Tokens (BTT).

BitTorrent offers users a variety of benefits, including faster download times, decentralized file access, and BTT token rewards. Several products within the ecosystem, such as BitTorrent Speed and BitTorrent File System (BTFS), use BTT tokens to reward contributions from participants.

The BTT token plays a crucial role in this ecosystem. It encourages users to actively participate in file sharing by rewarding them. This contributes to a larger and faster network. In addition, it opens up possibilities for various applications, including decentralized storage and file sharing.

Who founded BitTorrent Token?

BitTorrent was originally founded by Bram Cohen, a pioneer in P2P technology. His vision was to create a decentralized and efficient way to share files. In 2018, BitTorrent was acquired by Tron, which was founded by Justin Sun. Blockchain technology was soon integrated into BitTorrent, resulting in the creation of BitTorrent Token.

BitTorrent Token has several features including:

• Currency: BitTorrent Token serves as a currency within the BitTorrent ecosystem, facilitating transactions between users and participants.
• Decentralized storage: BitTorrent File System (BTFS) allows users to purchase storage with BTT tokens, providing a secure and decentralized alternative to traditional cloud storage.
• Faster downloads: Users can offer BTT tokens via BitTorrent Speed to gain faster access to files. This creates an economic incentive for network participants to provide bandwidth to BitTorrent and perform their work as efficiently as possible.

BitTorrent is a peer-to-peer protocol that downloads pieces of a file from multiple users. Anyone can contribute by making bandwidth available. The participants who save files together form a 'swarm'. The more participants in the swarm, the faster the download.

Users, also called 'service requesters', can offer BTT to download files. It is the 'service providers' who provide these files. The process by which service providers issue files is called 'seeding'.

The swarm is essential to the functioning of BitTorrent; without it, the protocol would not work. To encourage participation in the swarm, BitTorrent developed the BitTorrent Token.

Technical Operation of BitTorrent

BitTorrent Token is used to reward participants in the swarm for providing bandwidth. They receive these rewards after the protocol has downloaded files.

A transaction begins when a service requester makes a request to download a file. The service providers divide the file into small pieces, and the service requester can then download these pieces.

Rewards via the Tron blockchain

The facilitation of files is done via the traditional BitTorrent protocol, however for the storage of all BTT transactions, the network uses the Tron blockchain. On this blockchain, all BTT transactions are recorded.

Once a bid from a service requester is accepted by the service providers, a payment channel is created on Tron where micropayments are made to different service providers. After completing all payments, the micropayments are bundled and stored on the Tron blockchain.

BitTorrent Speed

Shortly after the acquisition by Tron, BitTorrent Speed was introduced. This is a decentralized application (dApp) running on the Tron blockchain and connected to the BitTorrent protocol.

BitTorrent Speed allows users to offer BTT tokens in exchange for faster downloads. The goal of BitTorrent Speed is also to incentivize users to perform better.

BitTorrent File System (BTFS)

The BitTorrent File System (BTFS), an application built on the Tron blockchain, allows a user to offer BTT tokens to a service provider in exchange for local storage. BTFS can be used in a variety of situations, such as sharing specific content or as backup storage.

The primary function of BTT is to serve as a means of payment within the BitTorrent network. Users can use BTT tokens to gain faster download times or access various other services, such as local decentralized storage and content distribution. A key feature of BTT is that it incentivizes seeding (sharing files with others) by rewarding users for their contributions to the network.

BitTorrent Token was released as a TRC-10 token on the Tron blockchain. There is a maximum supply of 990 billion BTT tokens, of which 6% were issued during a public token sale, 2% during a private token sale, and 9% during a seed sale. In addition, 20.1% is reserved for airdrops that will take place at various times until 2025, the BitTorrent Foundation holds 19% of the tokens, and the Tron Foundation holds 20%, of which 19.9% goes to the BitTorrent ecosystem. The remaining 4% is reserved for partners.

BitTorrent Token is a unique project that has combined a traditional system with one of the fastest growing technologies in the world. There are several features that set BitTorrent Token apart from other projects:

• Large number of users: BitTorrent has been around since 2001 and has millions of users worldwide, making it one of the largest peer-to-peer networks in the world.
• Integration with Tron Blockchain: BitTorrent is one of the few old systems that have been integrated with blockchain technology. The collaboration between BitTorrent and Tron provides improved decentralization and security.
• Participant rewards: Participants are rewarded with BitTorrent Tokens for donating their bandwidth and storage. This creates a new economic model around the existing peer-to-peer network.
• Developer accessibility: BitTorrent’s integration with Tron gives developers the ability to build decentralized applications that connect to BitTorrent. This encourages innovation and new applications.

BitTorrent (BTT) is available to purchase at Bitvavo. Our platform is suitable for both beginners and advanced traders. Simply follow these steps to buy BTT tokens:

1. Register or log in to your Bitvavo account.
2. Deposit euros into your account by clicking "Deposit".
3. Visit the BitTorrent purchase page.
4. Enter the amount in euros you want to invest or specify the amount of BTT you wish to buy and confirm with "Buy".

The price of BitTorrent coins depends on the current market value. After purchase, your BTT tokens will be automatically added to your Bitvavo account, where you can easily manage and sell the tokens, which allows for a quick and effective response to market changes.

Your BitTorrent tokens are safely stored in your Bitvavo account, where the majority of funds are managed offline in cold storage. We recommend enabling two-factor authentication (2FA) for an extra layer of security for your account.

For users who prefer to store their BTT in a personal wallet, most software and hardware wallets now support BitTorrent. You can easily buy BTT and transfer it to your own wallet by linking the address to your Bitvavo account, giving you full control over your digital assets.