BitTorrent has tokenized the world’s largest decentralized file sharing protocol with BTT.
BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline. This will impact BTT price.
BitTorrent Speed is available as a feature of BitTorrent and µTorrent Web, as well as µTorrent Classic.
With BitTorrent Speed enabled, downloaders will have the option of providing tokens to uploaders in exchange for faster download speed. By introducing an incentive of earning BTT tokens, uploaders have a reason to seed files longer, and to dedicate more of their bandwidth and storage to other torrent clients in the network. BTT, which serves as a crypto torrent token in BitTorrent Speed, is responsible for powering a healthier BitTorrent protocol.
BitTorrent File System
BTFS is both a protocol and network implementation that provides a p2p mechanism for storing and sharing digital content in a decentralized filing system.
Traditional file storage systems have many disadvantages, including centralization or control by a single entity, the ability for governments to censor, higher costs, and low fault tolerance.
BTFS is a decentralized file storage system supported by millions of BitTorrent user nodes. By running on the blockchain, which has a Delegated proof of Stake method of processing blockchain transactions, BTFS addresses these limitations. BTFS represents the first decentralized storage system that can be used by decentralized application (DApp) developers. Soon, BTT will be introduced into the BTFS ecosystem to incentivize a fair and abundant file system.
DLive is a live streaming community built on blockchain. It empowers content creators and viewers. Through a revolutionary rewards system, broadcasters and viewers can earn without sharing their proceeds with the platform. As DLive moves towards decentralization, the aim is to create a more open content platform.
Soon, BTT will be introduced to the DLive ecosystem to power virtual gifting, subscriptions, and viewer rewards.
Let us review BTT Price
BTT/USD – Price Prediction
BTT is currently trading just below the support zone of $0.007038. If it can move above this support and trade above it for a few days, we could start seeing a move towards $0.007479, $0.008665, $0.009852, $0.01154, $0.01369, $0.01990 and $0.02996. Failure to hold the support at $0.007038 could lead to a drop towards $0.006013. Below this, there is no support till $0.003612.
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