Is BitTorrent BTT Taking Over?

7 May 2022

Since 2019, BitTorrent has lived on the blockchain in its current format. As a result, it is worth noting that BitTorrent is possibly the most successful example of a nostalgic brand making the transition to cryptocurrency.

Tron, a layer-1 dApp network, purchased the startup in 2018. (TRX-USD). BitTorrent launched its BitTorrent crypto project a year later as an evolution of the BitTorrent service on the blockchain.

Decentralization was already a goal before BitTorrent was created. They allowed numerous users to hold equal weight in a file transaction, resulting in better transfer rates over the peer-to-peer network. 

This is how the project is being run now in the same manner.

To compensate users for their participation in the Tron network, Tron has created the BTT token. With a market value of over $1.5 billion, the BTT cryptocurrency has proven to be a great success for the project.

P2P file-sharing and torrent network BitTorrent have grown more decentralized in recent years.

TRON, a blockchain-based platform, acquired BitTorrent in July 2018 for an undisclosed sum.

As a result of BitTorrent's purchase, the company launched a native cryptocurrency token, BTT, made available in February 2019. TRON's TRC-10 standard was used to create BTT on its blockchain.

According to BitTorrent's official literature, the "biggest decentralized P2P communication protocol" in the world is now BitTorrent.

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