The token can be exchanged between users to optimize their network speed and attain faster downloads, according to the press release. BitTorrent’s first full-fledged move to begin to tokenize its content sharing ecosystem — which reportedly serves over 100 million users — comes around six months after the company was acquired by decentralized internet startup TRON for an undisclosed amount.
BTT will reportedly be exclusively available to non-United States accounts on crypto exchange Binance’s “Launchpad” program, and will also be distributed “selectively” via airdrops later this month.
According to the press release, BTT is part of a broader ambition to create a decentralized content distribution platform using cryptocurrency. BitTorrent claims that its protocol — first created in 2004 — is currently “the largest decentralized P2P network in the world, driving 22% of upstream and 3% of downstream traffic globally.”
As previously reported, the roadmap for TRON and BitTorrent’s mutual integration has been formalized as an initiative dubbed “Project Atlas.” When the pair first disclosed more extensive details of their joint plans in September, they revealed that tokens in the ecosystem would be used as incentives.