Users who watch, chat, gift, and share content can also earn BTTC rewards. In contrast to traditional platforms, both creators and viewers are rewarded for their contributions to the platform. In 2020, BitTorrent acquired DLive, a community-based blockchain live streaming platform, to offer more decentralized services in the BitTorrent ecosystem. Through advanced encoding methods and file repairing technologies, BTFS can guarantee the confidentiality and security of the files, and users can access them conveniently without interruptions. When renters use the BTFS service, their files will be sharded and distributed to multiple reputable hosts on the network. Renters are users who rent storage on the network and hosts are those that share their idle disk space for BTTC rewards. The BTFS network consists of millions of BTFS nodes called renters and hosts. BTFS aims to offer a scalable, censorship-proof, and cost-effective alternative to the traditional centralized cloud storage.
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With more readily-available files on the P2P network, this could also benefit users that are still using the free BitTorrent client to download files from their peers.īeyond file sharing, BitTorrent also features a decentralized P2P file storage system called the BitTorrent File System (BTFS). The BTTC will be credited to the providers after the file is transferred, and the transaction will be logged on the Tron blockchain.īitTorrent Speed uses BTTC to incentivize users to continue seeding files, which can significantly increase the file-sharing efficiency and accelerate the download speed. Once the other parties (“service providers”) accept their bid, the service requestor needs to transfer the agreed-upon BTTC amount into escrow in a payment channel on the Tron blockchain. To request a file, users (“service requestors”) need to submit a bid to specify how many BTTC tokens they are willing to offer to those seeding the file. Powered by blockchain technology, BitTorrent Speed enables faster download speed through an incentive system. To enhance the file transferring speed, BitTorrent launched an upgraded version of the BitTorrent protocol that adopts the native cryptocurrency BTTC. However, there was little incentive for users to remain connected to the network after downloading a file.
The more seeders support a file, the quicker the download speed. Within the BitTorrent network, anyone with the complete file can become a seeder. When a user downloads a file, they will receive pieces of that file (the torrent) from multiple providers within the network, after which they can remain connected to the BitTorrent network and “seed” the file to other users. Instead, the files and data are distributed and hosted across their users’ computers. BitTorrent does not store content on a single server. The original BitTorrent platform was founded by Bram Cohen and David Harrison to facilitate the interchange of entertainment media, such as movies and music, among Internet users.
It relaunched as a decentralized P2P platform on the Tron blockchain, featuring various new tools and integrated a TRC-10 token, BitTorrent (BTTC), to incentivize its network participants. Later in 2018, BitTorrent was acquired by the Tron Foundation. Initially released in 2001 when the Internet was just starting to catch on, BitTorrent revolutionized the way users download and obtain entertainment media and other large files and data. Despite its popularity, one of the biggest challenges for users was the long hours it took to find and download their desired content, as most users weren’t incentivized to continue sharing files to the network once they received their content.īitTorrent is one of the largest and longest-standing P2P platforms for data and file sharing.
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In the 2000s, a common way to download music and movies over the Internet for free was using peer-to-peer (P2P) platforms like BitTorrent. The BitTorrent ecosystem also features a community-based live streaming platform, where content creators and viewers can earn and stake BTTC rewards.
BTTC is used to incentivize users on the network to provide their local computer resources for fast download speed and secure decentralized storage. It’s powered by the Tron blockchain and BTTC, a TRC-10 utility token. BitTorrent is one of the largest decentralized peer-to-peer (P2P) file-sharing platforms.
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