What is BitTorrent (BTTC)?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 4 min
In short
BitTorrent is a peer-to-peer file-sharing protocol released in 2001, acquired in 2018 by the organisation led by Tron's founder. BTT is a token issued to reward participants who keep sharing files and thereby sustain the network. It was first issued on Tron and later migrated to a separate network, BitTorrent Chain.
Key points
- Originally a protocol for distributing large files peer to peer, unrelated to crypto
- Acquired in 2018 by the organisation led by Tron's founder, with the BTT token issued the following year
- The token is meant to reward participants who keep seeding files
- Migrated to BitTorrent Chain in 2022, with the token redenominated
Definition
The token issued to reward users of the BitTorrent peer-to-peer file-sharing protocol for sharing files, and the chain on which it is issued.
The BitTorrent protocol splits a large file into pieces and downloads them from many peers at once. Removing the central server cuts distribution costs, but it has a structural weakness: once people finish downloading, they often stop sharing, and older files become unobtainable.
BTT was designed as an answer to that. Downloaders pay tokens and persistent sharers receive them, creating an economic reason to keep seeding. The official client added a feature called BitTorrent Speed that pays for contributed bandwidth.
The issuing platform has changed. The token first launched on Tron and moved in 2022 to a separate network, BitTorrent Chain, where it was redenominated at 1 old BTT to 1,000 new BTTC. Older write-ups may still use the previous units.
BitTorrent Chain itself is described as an EVM-compatible network with bridging between chains. So BTTC today serves as that chain's fee token in addition to its original role as a file-sharing reward.
Watch out for
- · The 2022 redenomination changed the unit; do not compare old BTT and new BTTC figures directly
- · A reward mechanism existing is not the same as it being widely used, so check published figures for actual usage
- · The protocol itself is legal, but distributing copyright-infringing files is unlawful in most jurisdictions
Frequently asked questions
Do I need BTTC to use BitTorrent?
No. The protocol and clients work as they always have, without a token. BTTC relates to optional features such as paying for bandwidth; it is not a prerequisite for file sharing.