What Is BitTorrent Protocol and How to Buy BTT Tokens?

Do you struggle to download large-sized files from the internet?

Yes, right? We all do. And that’s why BitTorrent was introduced. To solve these issues related to sharing, uploading, and downloading. 

In this blog post, we will discuss the BitTorrent protocol, how it works, and how you can buy BTT tokens.

What Is BitTorrent Protocol?

BitTorrent is a distributed transfer protocol. The hypertext transfer protocol (HTTP) and the file transfer protocol (FTP) are two of the most common transfer protocols used on the internet. HTTP protocol is used to share files across online platforms.

The hypertext transfer protocol server creates small-sized chunks of a file. And sends them to the end user as a single stream via HTTP. After that, the transmission is finished as rapidly as the client, network, and remote server can. 

On the other hand, BitTorrent tries to obtain "random" portions of the file from its participating peers and can regularly download several parts continuously from various sources. In a similar context, the torrent protocol is close to four times quicker than the FTP protocol.

What Is a BTT Token?

The BitTorrent Token, or BTT, is a TRC-20 utility token part of the BitTorrent ecosystem. It is used as a currency in some of the most powerful protocols and networks in the world. 

Current trading price: $0.0000005815 

Market Cap: 575.38

Total supply: 990000.00 billion

History of BTT

The Tron Foundation, led by its creator Justin Sun, completed the acquisition of BitTorrent in 2018, intending to decentralize its services. Following the multi-million dollar acquisition, Tron launched BitTorrent Token (BTT) in 2019. BTT was a cryptocurrency created to offer users of torrenting networks benefits and rewards.

Features of BitTorrent

Centralized Data Storage System

The BitTorrent File System (BTFS) is a protocol and network that offers a peer-to-peer (p2p) mechanism for storing and distributing digital information within a decentralized filing system.

We already know the common data storage methods we use have a lot of drawbacks. They are slow and vulnerable to hacking, and if you want to store large-sized files, it will cost you a lot to buy the required data storage.

BTFS is a distributed file storage system that millions of BitTorrent user nodes collaborate to maintain and manage. BTFS overcomes these constraints since it processes blockchain transactions using a delegated proof of stake technique. This method requires it to function on the blockchain, which has these limitations. The BTFS is the first decentralized storage system that is available for use by developers of decentralized applications (dApps). 

The BTT token will be integrated into the BTFS ecosystem very soon to promote the development of an equitable and abundant file system.

BitTorrent Speed

BitTorrent has introduced BitTorrent Speed to reward seeders with BTT for uploading files even after a download. Because customers are incentivized to share their bandwidth through this product, download times are reduced significantly. Because of this, there are fewer "swarm deaths," which is a problem that has persisted throughout the history of BitTorrent.

Customers of BitTorrent Speed have access to a variety of features. First, users can create a local BitTorrent wallet from scratch or import an existing one, provided it is compatible with Tron's blockchain. Second, a free airdrop of 50 BTT is available to newly registered users as an additional incentive. As a last layer of defense against automated programs known as bots, an integration of CAPTCHA has been introduced to the Airdrop flow.

Earning BTT Via Seeding

When a new version of BitTorrent, Torrent Web, or Torrent Classic is downloaded or upgraded, the torrent client software will automatically be set up with a wallet and a certain amount of BTT tokens.

BitTorrent Speed will automatically bid BitTorrent (BTT) to other users for higher download speeds whenever torrents are downloaded. Use the torrent program as you normally would; there is nothing additional you need to become familiar with or accomplish.

After a torrent file has finished downloading, you will be able to earn BitTorrent tokens (BTT) automatically by seeding. The integrated wallet provides a secure location to store your BTT, which you can send to other wallets.

What Makes BitTorrent(BTT) Unique?

The BitTorrent team believes that blockchain technology will make it possible to create a decentralized torrent platform that will eliminate the intermediaries by acting as a bridge between those who create information and those who view it.

In addition, utilizing the cryptocurrency BTT connects with the torrenting community and needs the unrestricted sharing of content openly and beneficially. The delegated proof of stake (DPoS) consensus method and peer-to-peer (P2P) technology that Tron utilizes provide the necessary infrastructure to carry out the objective above.

The strategic combination of Tron and BitTorrent's file-sharing Protocol via BTT will also help to facilitate the widespread adoption of blockchain technology. There are millions of active users on the BitTorrent P2P platform, and these users are just waiting to make use of the decentralized services offered by the Tron ecosystem. When it's all said and done, the substantial traffic from BitTorrent will make it easier for Tron to scale its use of BTT tokens.

How to Buy BTT Tokens? 

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including BTT, users can now trade easily and seamlessly. To purchase BTT on CoinEx, follow the steps below.

Go to the website and create a CoinEx account. 

If you already have a CoinEx account, this is how to purchase and sell BTT on CoinEx:

1. To access your CoinEx account, visit the website or launch the app and enter your email and password.
2. Put funds in your account to make BTT purchases. You can deposit the funds via bank transfer, credit card, etc.
3. Once you have funds in your account, you may buy BTT by going to the BTT trading page and choosing the trading pair you wish to use.
4. Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for BTT. Put in your order and the quantity you want to buy.