What is BitTorrent?BitTorrent Inc. was founded by Bram Cohen in 2001. It is a decentralized peer-to- peer protocol that allows millions of users to upload and download files fast, without causing any internet congestion.
Let’s say you have to send large and voluminous files to a client. The files may be too large for your email whilst other file converters may be slow. BitTorrent takes these files and breaks them into fragments that are sent to the intended parties through the network. Let’s think of it as building blocks. BitTorrent breaks your files into small building blocks and once received, puts the blocks together to “assemble” the files.
What’s interesting about the system is that it has no central entity but operates on a distributed system. In order to send files, the system uses seeds (torrents).
Seeds are different computers/users who act as receivers of fragments of your files. The seeds host fragments of your files so that it is easier to download large files.
A peer is the person who receives the files in fragments. However, the system assembles the fragments for the peer. The network of seeds and peers is called a swarm.
To summarise, BitTorrent allows you to upload and download large files without causing internet congestion. It is also cheaper and more efficient than other systems.
What is BitTorrent Token?BitTorrent Inc. has proven to be so successful that it caught the attention of Tron founder Justin Sun back in June 2018. Sun bought BitTorrent for a cool $120 million with the aim of expanding Tron’s Project Atlas. Soon after, the BitTorrent (BTT) Token was launched on the Tron blockchain. During the token’s initial exchange offering (IEO), $7.2 million was raised. The aim of the token is to improve BitTorrent protocol.
This means that if you are a seed, you will be rewarded with BTT tokens. An added benefit of being a seed is that you don’t need expensive equipment. You can become a seed by simply allowing a file to be stored on your computer. These files can include anything from music to books, movies and more.
Rumour has it...There is a rumour that BitTorrent may cooperate with the likes of Amazon, Netflix and maybe Spotify in 2021. Should this be the case, it will be very good news for BTT hodlers. It is said by many experts that BTT may reach the Top 10 Most Popular World Cryptocurrencies within the next five years. However, at this stage, it is mere speculation and has not been confirmed by the BitTorrent team.
Trade BTT on AltCoinTraderAltCoinTrader is proud to be a platform that educates crypto enthusiasts and the general public about the many uses and solutions cryptocurrencies offer. There are so many ways to make money with cryptocurrencies. If you become a BitTorrent seed, you can earn BTT tokens. Buy and sell BTT on AltCoinTrader to earn extra money.
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