BitTorrent, the online file sharing company best known for spearheading peer-to-peer, is now launching its own cryptocurrency. BitTorrent was purchased last July from TRON. Since then, TRON has been working hard to integrate BitTorrent into its overall plans.
This new version of the P2P software is reportedly dubbed Project Atlas and intends to introduce “backward compatible protocol extensions.” In particular, TRON CEO Justin Sun previously indicated that this will eventually lead to “faster downloads, more seeds, too much mining and backward compatibility.”
Therefore, the decision to launch a native token built on the TRON protocol does not come as a surprise. The token is named as BitTorrent token (BTT).
This can be seen as the first serious attempt by TRON to tokenize its content sharing platform BitTorrent. In addition, this would not be a small feature, since the service allegedly has more than 100 million users.
In addition, the company has agreed that the BitTorrent Foundation will issue the tokens. In addition, the BTTs will also have native, integrated TRC-10 compatibility. Simply put, this means that the tokens follow the technical standard of the TRON blockchain.
According to a new press release, BitTorrent tokens are only available on Binance for non-US users. In addition, they are reported to be issued through “selective” airdrops later this month.
It’ll be interesting to see how this evolves. The news that BitTorrent is now preparing to release its own TRON token means that Project Atlas is one step closer to success.
In addition, Project Atlas and BTT form part of the overall strategy of TRON to create a decentralized content distribution platform. This is because BitTorrent claims that its BitTorrent protocol is “the largest decentralized P2P network in the world.”
It is therefore entirely possible for TRON to leverage BitTorrent and now BTT to implement such a content distribution platform. As always, it remains to be seen how this works – but surely the move is fascinating.
