Many internet users today are familiar with the BitTorrent peer-to-peer protocol invented by Bram Cohen that powers the torrent clients used around the world today. With BitTorrent (BTT), a TRC-10 utility token based on the TRON blockchain, BitTorrent extends its familiar protocol to create a token-based economy for networking, bandwidth, and storage resources on the existing BitTorrent network, thus providing a way for network participants to capture the value of sharing bandwidth and storage. BitTorrent (BTT) allows content creators to connect with their audience, earn and spend digital currency without a middleman.
The BitTorrent client can introduce blockchain to users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web. Users of torrent clients are familiar with challenges such as slow downloads and files that become unavailable over time. By creating incentives for users to share, the token will enable faster download and better swarm longevity for the entire network. BitTorrent (BTT) will first be implemented into the Windows-based µTorrent Classic client, BitTorrent’s most popular application.
BitTorrent token-enabled µTorrent Classic clients will be 100% compatible with other clients that support the BitTorrent protocol. Key features - Existing BitTorrent clients will implement an optional set of backward-compatible protocol extensions which allow them to bid and receive bids for their bandwidth, working in tandem with a cryptocurrency wallet and bidding engine. - The project plans to utilize BitTorrent (BTT) in more utility cases beyond the current sharing of bandwidth, to more general storage, computation, and resource availability, such as a distributed VPN (virtual private network) or content delivery network (CDN). - The token will be used at first by BitTorrent clients to bid for and earn in exchange for allocation of upstream bandwidth. It will later be used for capabilities including purchasing content, tipping live streaming performers, and crowdfunding the creation of new works.