Come summer, you might just be able to share and use media files over a platform powered by crypto as Bittorrent just announced the coming of its new offering Bittorrent Speed and an accompanying crypto token, with the ticker symbol BTT. The release date of the two has been pegged to be somewhere around the middle of 2019, in the heat of summer.
This new offering, will let users share as well as host media files and other different forms of data, using BTT tokens to facilitate any transactions in the process. As we had reported earlier, Bittorrent had been acquired by Tron in 2018 and now they have developed BTT as a Tron-based crypto coin designed for this network.
This new offering, a dApp (decentralized application) is expected to host around 30 million users each and every day. If it meets this goal, it will easily become the most wildly popular and largest dApp the world of blockchain has known till date.
The announcement about the release date was made during the niTron conference held in San Francisco recently. To quote a part of what Justin Sun, who is the current CEO of Bittorrent after the company was taken over by the Tron Foundation, said:
“With BitTorrent Speed, we aim to strengthen the BitTorrent protocol and then deliver more features that inspire innovation across industries.”
“More than 100 million users soon will have the opportunity to be part of a boundary-free internet that supports personal privacy and connection around the world.”
Although Bitcoin founder Satoshi Nakamoto had expressed high hopes about the potential of torrenting to promote decentralization, this medium had never really reached the scale of modern-day streaming platforms like Netflix. This was primarily because torrent was so heavily dependent on an individual user’s benevolence and was never incentivized. However, with the BTT tokens, that is set to change completely.
Justin Knoll, who is heading the development of Bittorrent Speed said:
“When users gain access to BitTorrent Speed, they will be blown away by the improvements we’ve made to the client they know and love today.”
The BTT Token sale is due to open on the Binance Launchpad for people all around the world, barring US citizens, from 28th January, 2019, 7 pm Pacific Standard Time.