BitTorrent is one of the largest decentralized C2C file-sharing platforms, powered by the TRON blockchain and the TRC-10 utility token BTTC. BTTC is designed to incentivize users on the network to share their local computer resources, enabling high-speed** and secure decentralized storage. Not only does the platform offer powerful file sharing capabilities, but it also builds a community-based live streaming platform that allows content creators and viewers to participate in the community ecosystem by staking and earning BTTC rewards on the platform.
At the beginning of the 21st century, C2C platforms such as BitTorrent were the main channels for people to get free *** and movies on the internet. These platforms have been widely welcomed, however, they also come with their own set of challenges. One of the biggest problems is that it takes users a considerable amount of time to find and ** the content they want, and this is because most users lack the motivation to continue sharing files after getting what they want.
BitTorrent is one of the largest and oldest C2C data and file sharing platforms. The platform was first launched in 2001, just in time for the early days of the internet's popularity. The advent of BitTorrent has revolutionized the way users** and access entertainment content, as well as other large files and data.
In 2018, BitTorrent was acquired by Tron** and relaunched as a decentralized C2C platform on the Tron blockchain. The new platform introduces multiple tools and integrates the TRC-10 token BitTorrent (BTTC) to provide incentives to network participants.
The BitTorrent platform was originally founded by Bram Cohen and D**id Harrison to facilitate the sharing of movies, ** and other entertainment content by Internet users. Unlike traditional file-sharing methods, BitTorrent does not store all content on a single server, but rather stores files and data in a decentralized manner on the user's computer.
In how BitTorrent works, when a user ** a particular file, they receive fragments of that file from multiple sources of information in the network, which are often referred to as "torrents" (torrents). Subsequently, users can choose to stay connected to the BitTorrent network and share the files with other users as "seeders".
In the BitTorrent network, anyone with a complete file can become a "seeder". An increase in seeders is often associated with a faster rate. However, the network lacks incentives to keep users connected after a file. To solve this problem and improve file transfer speeds, BitTorrent has been upgraded with the introduction of the native cryptocurrency, BTTC.
Powered by blockchain technology, Bittorrent Speed boosts speed through incentives. When a user ("Service Requester") requests a file, they are required to submit a bid indicating how much BTTC tokens they are willing to pay to the seeder. Once the other party (the "Service Provider") has accepted their **, the Service Requester needs to transfer the agreed BTCC amount to a payment channel on the TRON blockchain for escrow. Once the file transfer is complete, the BTTC will be credited to the service provider's account, and the entire transaction process will be recorded on the TRON blockchain.
Bittorrent Speed uses BTTC to motivate users to continuously seed files, effectively improving the efficiency and speed of file sharing. In the future, there will be more ready-made files on the C2C network, which will benefit those who are still using the BitTorrent free client to get files from other users.
In addition to file sharing, BitTorrent has also launched a decentralized C2C file storage system called BitTorrent File System (BTFS). BTFS is seen as an alternative to traditional centralized cloud storage due to its scalability, cost-effectiveness, and censorship-free nature.
The BTFS network is made up of millions of BTFS nodes, which are divided into two categories: renters and lessors. A renter is a user who rents storage space on the network, while a lessor is a user who shares their idle disk space to earn BTTC rewards.
When renters use the BTFS service, their files are sharded and stored dispersively across the disks of multiple reputable lessors on the network. Through advanced encoding methods and file repair techniques, BTFS is able to guarantee the confidentiality and security of files, and users can easily access these files without any interference. This distributed file storage method improves the reliability and availability of data while reducing storage costs.
In order to provide more decentralized services in the BitTorrent ecosystem, BitTorrent acquired Dlive, a community-based blockchain live streaming platform, in 2020. Unlike traditional platforms, both creators and viewers of DLIVE are rewarded for their contributions to the platform. **Users who chat, send gifts, and share content can also earn BTTC rewards. In addition, you can also stake BTTC to earn more rewards and unlock premium services on DLIVE.
BTTC is a TRC-10 utility token in the BitTorrent ecosystem with a total volume of 990 billion. The goal of introducing the BTTC token is to create a robust tokenomics system on BitTorrent's independent network to support network construction, facilitate bandwidth sharing, and store resources.
Summary
BitTorrent is a unique project that has revolutionized its existing C2C file-sharing platform using blockchain technology and cryptocurrencies. Compared to traditional C2C file-sharing platforms, BitTorrent is more decentralized, less costly, and more efficient. In the future, the BitTorrent team hopes to add more use cases to the BTTC token and support more DAPP features. Bittorrent will be an attractive tool for developers looking to launch dapps with file sharing and storage capabilities.