BitTorrent is one of the largest peer-to-peer file sharing networks boasting over 100 million monthly average users (MAU). With a wide choice of BitTorrent client products, the BitTorrent protocol is powered by the native BTT token. Moreover, the project offers services through two names, including its sister brand, µTorrent. Also, the latest addition to the BitTorrent crypto ecosystem is DLive and DLive Protocol. But, what other services are available with the BitTorrent protocol? Furthermore, what roles does the BTT token play within the BitTorrent crypto ecosystem?
In this article, we will dive deep into the BitTorrent crypto ecosystem and delve into the variety of products and services available. This includes looking at µTorrent and DLive Protocol too. Moreover, we’ll be exploring the various use cases for the multi-utility BTT token. First, we will cover the basics of the project, including revising some potentially unfamiliar terms for readers new to the BitTorrent protocol.
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What is BitTorrent?
Developed by BitTorrent Inc., based in San Francisco, BitTorrent is a blockchain-based decentralized file sharing protocol. The native BitTorrent token (BTT) is the product of a collaboration between TRON Foundation and BitTorrent Foundation that aims to establish a token-based economy for decentralized file storage and computing resources. Further, the BTT token aims to bring longevity to the collaborative relationships between untrusted parties using the protocol.
Also, by optimizing the existing protocol with token-based incentives, network participants can capture the value of shared bandwidth. In addition, the project aims to create a platform for distributed infrastructure that lays the foundation of the decentralized internet for third-party developers.
Responsible for a significant percentage of daily global internet traffic, the project operates with two brands; BitTorrent and µTorrent. Together, these brands offer decentralized peer-to-peer protocols for distributing and communicating large amounts of data over the internet through various mediums. Both facilitate torrent programs for desktop and mobile, alongside a “browser-based torrent streaming and downloading product”. At the time of writing, the project claims to have over two billion users.
Torrent Files
A torrent is a type of file format used for transferring data. Torrents work in a similar way to zip files. They hold information to assist the BitTorrent client in retrieving and downloading data. The data sets included in torrent files include folder structures, names, and file sizes, which are compiled with a list of trackers.
These trackers work much like a group of computers that help to establish the location of data. When a network participant makes a request for content, trackers connect them to the correct location.
Magnet links
Magnet links are basic text links that help to establish a true peer-to-peer network. Using magnet links removes the need to download an entire “.torrent” file, as the links include all of the required information.
BTT Token
The BitTorrent token (BTT) is a TRON TRC-10 utility token that is helping to tokenize the most prominent file sharing protocol. Further, the BTT token powers several decentralized applications (dApps), including BitTorrent Speed, BitTorrent File System, and DLive.
The BTT token has a maximum supply of 990 billion, with just over 659 billion in circulation, according to CoinGecko. Also, investors have the choice of some of the largest centralized and decentralized crypto exchanges to trade the BTT token. This includes the likes of Binance, OKEx, and PancakeSwap.
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BitTorrent Speed
The BTT token is responsible for powering BitTorrent Speed on the blockchain, facilitating “faster torrent download speeds”. Also, this is a way of putting BTT tokens to work and make a passive income with crypto by earning BTT token rewards. Furthermore, as a free-to-use product, BitTorrent Speed doesn’t require or use any computational resources as it is not a mining process. Instead, it is an automated process with nothing new to learn. This includes the token bidding process for faster download speeds, also resulting in BTT token rewards.
BitTorrent File System (BTFS)
BitTorrent File System (BTFS) is a protocol and network offering a blockchain-powered peer-to-peer digital content sharing and file storage system. Claiming to offer the first scalable decentralized storage system, BTFS is an alternative to centralized digital file storage systems vulnerable to censorship, high cost, and low fault tolerance.
BTFS operates using a Delegated Proof-of-Stake (DPoS) consensus, validating transactions on the blockchain with millions of user nodes. Moreover, BTFS will soon be a decentralized storage system available to blockchain developers. Also, BTFS implements the TronGrid service as a secure gateway connecting each element of the ecosystem. Further, upon development, the native BTT token will be incorporate a tokenomic system to incentivize honest behavior on the network.
Exploring BitTorrent Crypto Ecosystem Products
BitTorrent offers a wide variety of products covering torrent downloaders, content utility, and live broadcasting protocols. Below we give a brief overview of the products available through BitTorrent.com.
Torrent Downloaders
The first range of products offered is torrent downloaders. This includes BitTorrent Web, BitTorrent Classic and pro options, and BitTorrent Android. Also, the platform provides a holistic torrent service spanning desktop, browser, and mobile products.
BitTorrent Web
Available for both Windows and Mac, BitTorrent Web is an “online torrent downloader and player”. The service allows users to quickly download and play magnet links and torrent files using the Safe Torrent Scanner. Moreover, BitTorrent Web can be used for any media or data file, not just video. As a client is streaming, users can both download and play torrent files and magnet links simultaneously. Furthermore, download and upload speeds can be set to make network resources available for other tasks.
Another use for the BTT token is for increasing download speeds. With the help of BitTorrent Speed, BTT tokens are used to bid to other network participants for faster speeds. Plus, after downloading a file, users can seed it to the network to earn BTT tokens. This can be a great way to earn a passive income with crypto!
Uniquely available to the Windows client, users can access content from independent artists through BitTorrent Now. This is the project's dedicated content library for users to stream and download torrent files.
BitTorrent Classic
Available on only Windows computers, BitTorrent Classic is the “original torrent desktop app” boasting advanced customization features. Also, BitTorrent Classic enables super-fast batching of torrent downloads with a modestly-sized setup file that is light on resources.
Furthermore, the platform allows users to schedule and automate downloads and prioritize multiple downloads to optimize download speeds. Plus, using BitTorrent Classic enables participants to manage torrent downloads remotely using BitTorrent Android or a web browser. Moreover, users of the platform can automate downloads from their favorite websites or support up-and-coming artists by downloading new and emerging content.
There are several tiers available with BitTorrent Classic, including BitTorrent Classic Pro, BitTorrent Classic Ad-Free, and BitTorrent Classic Pro+VPN. The paid-for tiers offer extra services, including ad-free experiences, access to premier customer support, and an upgraded streamlined user experience. Also, the top BitTorrent Classic Pro+VPN package includes a free one-year subscription to Ghost VPN for up to five devices. VPN is short for a virtual private network. In short, VPNs allow users to browse the internet anonymously without any cookies, trackers, or browsing history saved. Moreover, the BitTorrent Classic Pro+VPN package includes virus and malware protection too.
BitTorrent Android
BitTorrent Android is among the most widely-used torrent downloaders available. With this application, users can download both torrent files and magnet links. Users can also playback files using the built-in media player from anywhere with an internet connection.
Just like BitTorrent Classic, BitTorrent Android facilitates bulk downloads. Plus, BitTorrent Android boasts many of the same resource-saving features as desktop versions of the torrent software. Also, participants can use the Android app to remotely add torrent files to BitTorrent Classic while on the go!
Live Broadcasting
DLive and DLive Protocol feature as products on the BitTorrent homepage. Selecting “DLive” will direct you to a mobile download site with a brief overview of the mobile application. However, choosing “DLive Protocol” will direct users to the dlive.org website, explaining further details about the peer-to-peer network project.
DLive Protocol
In January 2020, BitTorrent announced it had introduced blockchain-based streaming service DLive, to the BitTorrent crypto ecosystem. DLive is similar to Twitch or YouTube, focusing on live esports streaming with users watching people play video games. DLive offers a revolutionary rewards system benefitting both broadcasters and viewers.
BitTorrent and DLive together are developing a peer-to-peer distributed content sharing and streaming platform in conjunction with BitTorrent File Sharing System (BTFS). Deployed initially on the Lino blockchain, the DLive platform charges a smaller percentage of content creators’ profits than competing centralized services. DLive has recently introduced DLive Protocol, a peer-to-peer network allowing users to create their own channel and interact directly with their audience. DLive offers a wide variety of genres of content for viewers to choose from with an easy-to-use interface.
In October 2020, the project announced it had acquired the decentralized streaming service. Although the DLive protocol is still operating on the Lino blockchain, the development plan for the platform is to transition the protocol onto the TRON blockchain. Further, the BTT token is to become the new unit of value within the DLive ecosystem. Also, DLive has suggested offering perks and rewards to their current users upon the time of transitioning from Lino.
DLive initially brought immense value and adoption to the BitTorrent crypto ecosystem. However, following a ban of extreme right-wing political commentators induced by pressure from American Congress in January 2021, DLive raised the argument surrounding centralization vs decentralization. After this, the platform unfortunately, witnessed a significant drop in users. Moreover, there has been no further update surrounding the acquisition or development on the project’s press site since January 2020, with their latest post published in July 2020. Naturally, this has raised questions for users surrounding the partnership.
µTorrent
As the sister brand, µTorrent is a very small desktop torrent client for advanced users. Also, µTorrent gives users control over multiple downloads from a single location. Furthermore, µTorrent Classic automatically optimizes bandwidth usage during downloads based on local network performance. Users of µTorrent benefit from many of the same features included in BitTorrent Classic, including scheduling and remote connection. Plus, µTorrent is available for Android on Google Play as a simplified mobile app boasting no speed or size restrictions.
Exploring BitTorrent Crypto Ecosystem and the BTT Token Summary
The BitTorrent crypto ecosystem spreads far and wide with a choice of client applications to suit individual needs across desktop, mobile, and browser applications. The BitTorrent protocol, secured by the BTT Token, is one of the largest blockchain-based peer-to-peer file-sharing networks. Also, this includes its sister brand and torrent software provider, µTorrent. Further, the platform has since expanded its range of products to include content utility and broadcasting services. This now includes DLive as a mobile download application or DLive Protocol, allowing content creators to establish their own channels and seamlessly share and interact with their audience.
However, development and integrations with DLive appear to have gone quiet. Questions have been raised as DLive censored extremist views in early 2021, magnifying the philosophy of decentralization and censorship-resistant communications. On the other hand, the project plus its sister brand µTorrent boast a user base of billions with a selection of services available to Mac, Windows, and smartphone users. Also, the native BTT token will be utilized as an incentive for honest behavior from participants on the network. As an established brand implemented by the likes of Google and Netflix, BitTorrent has strong fundamentals as a key player in the decentralized storage industry.
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