BitTorrent’s blockchain system is called BitTorrent Speed, and it will launch this summer. This was announced by the company on Wednesday. The system integrates BitTorrent’s own Tron-based token BTT into its popular µTorrent Windows client, and allows users to speed up their downloads on the BitTorrent network.
BitTorrent users can also earn BTT tokens. They can do this by seeding files on the network. These tokenized incentives for seeding files, will make sure files are more readily available to people who want to download.
BTT tokens are not available yet. They will launch on January 28th on Binance Launchpad, a token sale platform from crypto exchange Binance. These tokens are only for sale to non-US based accounts.
The new features that are being introduced in the BitTorrent system, will not affect existing services. All users will still be able to download and share files. This summer µTorrent will be the first to integrate BitTorrent Speed and the BTT tokens. Other clients will follow by the end of 2019.
BTT is a TRC-10 token, and 990 billion tokens will be minted. These tokens are used for both rewards and in-app payments.
Tron acquired BitTorrent in June last year. The file sharing protocol is reportedly being used by 100 million consumers worldwide, even though it’s mostly notorious for the illegal side of file sharing.
Also published on Medium.