Since its debut in July 2001, BitTorrent, a revolutionary peer-to-peer (P2P) file-sharing platform, has steadfastly challenged the conventional entertainment industry. From overcoming initial legal battles to decentralizing under TRON's acquisition in 2018, BitTorrent has evolved significantly. The introduction of the BTT token in February 2019 marked a new era, unleashing innovative features like BitTorrent Speed and BitTorrent File System (BTFS). Dubbed the "largest decentralized P2P communications protocol," BitTorrent's journey from a groundbreaking file-sharing tool to a token-powered ecosystem underscores a fascinating narrative of technological and economic transformation. Read on to discover how BitTorrent continues to shape digital content distribution.

What Is BitTorrent (BTT)?

BitTorrent is a popular peer-to-peer (P2P) file-sharing and torrent platform that has become increasingly decentralized in recent years. Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018. Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard. According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.

Who Are the Founders of BitTorrent?

The original BitTorrent is the brainchild of Bram Cohen, a developer and entrepreneur who has since become well-known in the cryptocurrency arena. Cohen designed BitTorrent to usurp the dated entertainment industry, which made obtaining material slow and expensive. The platform has seen multiple legal battles, with Cohen maintaining that it does not break copyright laws in allowing users to share files such as music and movies among themselves.

In 2018, TRON completed its acquisition of BitTorrent, bringing BitTorrent under the control of Justin Sun. Sun is notorious for his promotion of both TRON as a cryptocurrency and its blockchain technology. He famously bid $4.5 million at a charity auction to have lunch with Warren Buffett, a well-known anti-crypto figure, to discuss cryptocurrency with him. TRON is also behind the addition of cryptocurrency to BitTorrent, as the BTT token was released on TRON’s blockchain. This move formed part of TRON’s efforts to add further decentralized features to the platform.

What Makes BitTorrent Unique?

BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content. Expensive and inefficient distribution networks were the main target, with original developer Bram Cohen seeing benefits in allowing internet users to distribute content among themselves directly. In the early 2000s, BitTorrent became the go-to P2P file-sharing platform, with TRON stepping in 2018.

Under TRON, BitTorrent has expanded its user appeal to those interested in decentralized solutions and cryptocurrency, as well as to its own user base. Among the added features are BitTorrent Speed, which uses the BTT token as part of its operations. BitTorrent has also branched out into paid services, offering several “premium” versions of its platform which include VPN capabilities and ad-free browsing.

How Many BitTorrent (BTT) Coins Are There in Circulation?

BTT is BitTorrent’s native cryptocurrency, issued on TRON’s blockchain as a TRC-10 standard token. The total supply, as stated in its whitepaper, is 990,000,000,000 BTT. 6% of that total was available in a public token sale, 2% in a private token sale, and 9% in a seed sale. Another 20.1% are reserved for airdrops, which are set to occur at various points until 2025. The BitTorrent team and umbrella organization, the BitTorrent Foundation, were awarded 19% of the supply. The TRON foundation holds 20%, with 19.9% going to the BitTorrent ecosystem itself. A final 4% of tokens are reserved for partnership activities. BTT plays various roles in BitTorrent’s products, including allowing users to pay others for faster downloads with BitTorrent Speed.

How Is the BitTorrent Network Secured?

BitTorrent says that it employs “the highest level of security measures” in order to secure user funds, but advises that cryptocurrency involves inherent risk. The company recommends that users protect themselves against theft, in the form of malware or similar programs, by using options such as biometric verification.

Where Can You Buy BitTorrent (BTT)?

BTT is tradable for cryptocurrencies, stablecoins, and even fiat currencies on major exchanges. Binance, Huobi Global, and OKEx are among the offerings. To find out more about how to buy Bitcoin (BTC) or any other cryptocurrency, read CoinMarketCap’s easy guide.

Tokenomics and Distribution Model of BitTorrent (BTT)

The BitTorrent (BTT) token has a total supply of 990,000,000,000 tokens. The token distribution model includes 6% of the total supply being available in a public token sale, 2% in a private token sale, and 9% in a seed sale. Additionally, there are 10.1% of tokens allocated for Tron Airdrop, 10% for BitTorrent Protocol Airdrop, 19% for the team and the BitTorrent Foundation, 20% for the TRON Foundation, and 19.9% for the BitTorrent Ecosystem. The token supply distribution also includes partnership tokens constituting 4% of the total supply.

Token Burning and Inflation Control

The tokenomics of BTT also include a burning mechanism, where a portion of the token’s supply is removed from circulation to reduce the total token supply over time, which is otherwise known as a deflationary mechanism. This is used by cryptocurrencies to increase the scarcity of the remaining tokens in circulation, which can help to support its price.

The Team Behind BitTorrent (BTT)

The BitTorrent crypto token, BTT, is backed by a team that is now a part of the Tron Foundation. The team includes nineteen members, with twelve of them being developers. Justin Sun is the CEO of BitTorrent, and he has a background in entrepreneurship and blockchain technology. He is also the founder of the Tron Foundation. Justin Scroll is the VP of Product Management, and he has experience as a Director of Engineering and Chief Architect. Marcus Zhao is the Head of Public Chain and has expertise in blockchain technology. Rebecca Bronstein is a Senior Product Designer, and Pavel Lagutin is a Senior Product Director, both of whom have experience in product management and design.

Notable Advisors and Partners

In addition to the core team, BitTorrent has partnered with the Tron Foundation, which has brought significant resources and expertise to the project. Tron has over 200 million users and $8.2 billion in total value locked (TVL) across DeFi protocols, making it the second-largest blockchain after Ethereum in terms of users and TVL.

The Purpose and Utility of the BitTorrent Crypto Token

The BitTorrent crypto token (BTT) is a TRC-20 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world