The BitTorrent protocol is an open-source, peer-to-peer solution for transferring files between users in a decentralized manner. It leverages multiple client endpoints to share large files among various clients without depending on a centralized server to handle the requests.

The BitTorrent Token (BTT) is a TRC-20 token based on the TRON Network that serves as the utility token of the BitTorrent ecosystem. It was devised by the TRON Foundation and the BitTorrent Foundation as a way to create a token-based economy for networking, bandwidth, and storage use in a decentralized manner.

BitTorrent is the world's largest decentralized protocol and has been around since 2001. In 2018, BitTorrent entered a strategic partnership with blockchain network TRON to support decentralized applications (dApps). As a result of this partnership, the TRON blockchain became the world's largest decentralized ecosystem, while BitTorrent became known as the world's largest dApp.

BitTorrent has been driving innovation in the dApp space for over ten years, working to provide varied services in a decentralized manner. Some applications operating on the BitTorrent protocol include distributed messaging services, P2P live video streaming, file synchronization, and distributed web hosting.

BitTorrent Token works in a hybrid model, utilizing both on-chain and off-chain exchange and operations. This allows the token to be transferred between a high-performance private ledger operated by BitTorrent and TRON - a public blockchain network.

The BTT token allows users of the BitTorrent protocol to monetize their services conveniently. End users can offer decentralized infrastructure services, such as storage space for hosting files, and receive incentives using the BTT cryptocurrency. The use of blockchain technology to monetize BitTorrents services makes the protocol far more scalable, transparent, and trustworthy.

In addition to tokenizing the BitTorrent protocols operations, the BTT crypto will also power other dApps within its ecosystem. It can be used as the native currency across dApps such as BitTorrent Speed, BitTorrent File System, DLive, and more.

Users downloading content by enabling BitTorrent Speed can pay uploaders using BTT to enjoy faster download speeds on the decentralized network. The incentives offered will encourage uploaders to dedicate more bandwidth and storage resources, improving the overall efficiency of the BitTorrent protocol.

The BitTorrent protocol was launched by Bram Cohen and David Harrison in 2001 and is one of the most widely known and used peer-to-peer file-sharing systems. The duo decided to leverage blockchain technology and cryptocurrencies to incentivize the BitTorrent ecosystem by launching the BitTorrent Token (BTT) in 2019.

BTT was designed as a TRC-10 token on the TRON blockchain to incentivize access to faster download services on the decentralized BitTorrent network, and then later got upgraded to a TRC-20 token with support for smart contracts. The plan is to further expand this token-based economy by offering BTT as incentives for users that provide networking, storage, and bandwidth resources.

The BitTorrent Token project was launched in December 2017, and the team conducted its initial private token sale a year later. The BTT cryptocurrency launched on the TRON mainnet in January 2019. The same month, an IEO on Binance made the token accessible to the general public.

In July 2019, the developers behind BitTorrent made it possible to use the BTT token on the BitTorrent Speed app to increase download speeds through payment. Shortly after that, in October 2019, BitTorrent launched its first decentralized file-sharing protocol, BTFS, on the TRON mainnet.

You could consider investing in BitTorrent Token if you want to diversify your crypto portfolio and believe in projects that demonstrate real-world applications of blockchain technology. As the undisputed leader and original P2P file-sharing service, the BitTorrent protocol offers numerous mainstream uses, making its native token a valuable crypto asset.

The BitTorrent Token price could increase as its team introduces more applications to monetize and expand its token-based ecosystem. This includes adding new use cases for the BTT token or providing more opportunities for BitTorrent users to earn money and benefit from using the protocol.

The BTT price statistics could also be influenced by improving market sentiment towards cryptocurrencies. A positive mood among investors could drive up the demand for altcoins like BTT, resulting in a higher BitTorrent Token price. Conversely, bearish or risk-averse sentiment could discourage investors from the crypto market and lower the BTT price.

While it is impossible to provide an accurate prediction of the BitTorrent Token (BTT) price, there are several key factors that influence its price action and volatility. These factors include:

Level of Adoption and Usage

The value of BTT tokens is closely tied to the level of adoption and usage within the BitTorrent ecosystem. When more users sign up to access BitTorrent's file-sharing service and utilize BTT for faster downloads, it can positively impact the price of BTT.

Future Developments

As BitTorrent continues to introduce new applications that incentivize the use of BTT tokens, the demand for the cryptocurrency may increase. This, in turn, could drive up the value of BitTorrent Token in the market.

Market Outlook

The overall market sentiment towards cryptocurrencies, such as bullish or risk-on moods, as well as news of mainstream adoption of platforms like BitTorrent, can significantly influence investor confidence and support the price of BTT. Conversely, bearish or risk-averse sentiment may lead to sell-offs and weaken the BitTorrent Token price.

BTT is the native crypto asset of the BitTorrent protocol and has the following use cases:

Utility Token

The TRC-20 utility token of the BitTorrent protocol, BTT, is used to pay for enjoying higher download speeds on the BitTorrent Speed application. Uploaders can earn BTT by offering higher bandwidth and storage for downloaders to access content faster. In addition, once a file finishes downloading, BitTorrent Speed users can earn BTT by seeding the file and contributing to the protocols operations.

Crypto Asset to Trade and HODL

Trade BitTorrent Token against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell BTT against other crypto assets or hold it long-term if you believe in the future potential of the BitTorrent protocol. Review the live price of BitTorrent Token, BTT market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade BTT in the market.

Earn Passive Income on BYDFi

As a BTT holder, you can earn passive income on BYDFi using our Crypto Lending feature. Head to this section to lend liquidity in BTT to our platform, earn attractive daily interest over seven days, 14 days, or 28 days, and grow your BTT crypto holdings in a safe and risk-free manner.

There are several ways to earn BTT, including:

Provide Higher Bandwidth and Storage for Faster Downloads

One of the most lucrative ways to earn BTT is by becoming an uploader on the BitTorrent network and offering access to faster downloads for other users within the network. You can earn BTT by providing more bandwidth and storage when uploading and hosting content, so users can download this data faster by paying extra.

Seed Downloaded Files

You can seed downloaded files on BitTorrent Speed to earn BTT conveniently. While the earnings would be lower than when you operate as an uploader, this method does offer you a convenient way to generate passive income in BTT on the BitTorrent protocol.

Trade BTT

Trade BTT on BYDFi or other supported platforms to increase your holdings when you place winning trades. We recommend that you perform adequate background research before trading BTT in the crypto market to reduce your risk exposure and maximize your earning potential.

Lend Liquidity in BTT

You can lend liquidity in BTT to BYDFi and other supported platforms to earn BTT safely and conveniently. This method is especially beneficial if you are a long-term HODLer and don't wish to undertake riskier strategies like crypto trading.

You can use several crypto wallets to store and manage your BTT tokens, including the official wallet enabled within BitTorrent software. BTT is a TRC-20 token, so you can use any crypto wallet that supports TRON and TRON-based tokens.

Some popular examples of mobile-based crypto wallets that support BitTorrent Token include YouHodler, Coinomi, Guarda.com Wallet, Atomic Wallet, and Ledger. In addition to these self-custody crypto wallets, you can also store and manage your BTT tokens using your BYDFi account in a custodial manner without worrying about managing your private keys.