What is BitTorrent Token (BTT) New?

BitTorrent is a P2P file sharing protocol. It provides a decentralized space to communicate and distribute data and electronic files over the Internet. BitTorrent was released in 20021 by Programmer Bram Cohen and later acquired by TRON in 2018 under the leadership of Justin Sun.

Cohen introduced the BitTorrent platform to bring advancements to the entertainment industry and speed up the transfer of large files containing T.V. shows and videos, which were slow and expensive earlier.

BTT is the native token of the BTT network issued as the TRC-10 standard token on the TRON blockchain. BTT has a total supply of 990 trillion, with the following tokenomics:

1. 6% was issued for a public token sale, 2% for a private token sale, and 9% for a seed sale.

2. The other 20.1% was reserved for timely airdrops that will be commenced at various times until 2025.

3. 19% of the supply was awarded to the BitTorrent team and Foundation.

4. 20% of the BTT is owned by the TRON Foundation, along with 19.9% by the BitTorrent ecosystem.

5. The remaining 4% of BTT tokens are reserved for partnership activities.

BTT plays a crucial role in the BitTorrent ecosystem. The users can use BTT to pay for faster downloads and improved speed. They can also hold it to participate in the network governance and earn rewards.

How does BitTorrent (BTT) work?

BitTorrent is a platform that connects users to share files in a decentralized manner. Unlike traditional systems that load a single server, BitTorrent splits the files among multiple servers or peers and enables users to download the pieces of files simultaneously in less time. Every device acts as a Downloader and Uploader, so whenever a user requests a file, the network first sends a small file known as "Torrent" to the user, which contains the list of all the peers sharing the requested data. To download the file, the user then connects to peers through the BitTorrent client or uTorrent.

Anyone who wishes to use the local resources of the BitTorrent network can offer the BTT tokens to the providers to use the resources such as bandwidth or storage. Once the bid request of the requester and the provider match, the network creates a payment route between them to facilitate the transfer of BTT based on their agreed price. Since Tron owns it, the BitTorrent network relies on the Tron Blockchain to maintain records of all BTT transactions.

Apart from this framework, the BitTorrent network also supports some smart contracts of Tron to create different dApps (Decentralized apps) designed to enhance performance. One chief dApp among them, BitTorrent Speed, allows requesters to purchase the provider's bandwidth using BTT to increase download speed. Another famous dApp associated with BitTorrent is the BitTorrent File system (BTFS). It has an in-built decentralized file storage protocol that makes storing files cost-effective and more secure.

How to Buy BitTorrent (BTT) in India?

There are many platforms where you can invest and trade BitTorrent (BTT) in India.

One such platform is Flitpay. To Buy BitTorrent (BTT) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy BitTorrent (BTT) and execute the BitTorrent (BTT) purchase.

You can instantly convert your INR to BitTorrent (BTT) and BitTorrent (BTT) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy BitTorrent (BTT)?

BitTorrent (BTT) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like Flitpay. You can also hold BitTorrent (BTT) till it reaches a high price, and then you can sell it through the Flitpay Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

If you wish to earn new BTT tokens, you can do that by participating in the consensus mechanism of the BitTorrent network. BTT is also the only form of payment allowed in the BitTorrent network, so you can spend your BTT holdings to use the services provided by BitTorrent.

Why Use BitTorrent (BTT)?

BitTorrent is an appealing platform because it enables the peer-to-peer sharing of files in a distributed network, making the process cost-effective and secure. When launched, it disrupted the entertainment industry and the way consumers obtain and download content. After Tron took over BitTorrent, it expanded the features of BitTorrent by adding projects like BitTorrent Speed and BitTorrent chain (BTTC). BTT is the only possible mode of payment approved in the BitTorrent ecosystem. Its holders also get to participate in the consensus mechanism and staking protocols. With the impactful history and support of the Tron network, BitTorrent seems to be a preferred choice for those believing that P2P share would be the future of the entertainment industry.

FAQ

What is BitTorrent (BTT)?

BitTorrent (BTT) is the governance as well as utility token of the BitTorrent network. It is used by BitTorrent users to pay the gas fees charged by the network for facilitating the exchange of resources. Its holders can also stake it to participate in the governance and earn rewards. Its total supply is 99 Trillion.

What is the BitTorrent (BTT) price in India?

Check out the LIVE! INR price of BitTorrent (BTT) crypto in India on Flitpay.

Which is the best platform to buy BitTorrent (BTT) in India?

The best crypto exchange to buy BTT or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of BitTorrent (BTT)?

BTT offers multiple use cases in the BitTorrent network. It is the single accepted currency of the network required by requesters and providers to share content in P2P format. It also has an important role to play in the PoS consensus of the BitTorrent network.

Is it safe to invest in BitTorrent (BTT) in India?

Yes, investing and trading BitTorrent (BTT) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to invest in BTT crypto. It offers the most real-time prices and advanced investing features.

Is BitTorrent (BTT) a Good Investment?

If you believe in the bright future of decentralized P2P file-sharing platforms, BitTorrent (BTT) is a good investment option. Its association with Tron, a popular blockchain network, also gives it a strong edge over other similar platforms. However, like many other cryptocurrencies, BTT is a highly volatile investment, and one must do his own research before investing in it.