TRON’s Justin Sun Announces BitTorrent Token (BTT) as Officially Launched
“The world’s largest blockchain-based application, powered by people,” as described on the official BitTorrent (BTT) website, is officially operating.
As announced by Justin Sun back in August when Project Atlas was revealed with the focus on the previously acquired BitTorrent where Sun soon (no puns intended) became the CEO of the company.
Without changing the general policy of the way this data sharing peer-to-peer platform is operating, Sun introduced backward compatible operations, which means that BTT tokens can be used on the platform by users interested in getting faster bandwidth for downloads, while other users will still be able to use the well-known version of BitTorrent software for sharing files.
Previously announced to represent a TRC-10 token, compatible with Ethereum’s ERC20, Binance Launchpad soon jumped in to announce that their service will host BTT initial coin offering alongside other upcoming ICOs in 2019 that are said to have value for the general benefit of the cryptocurrency ecosystem.
BitTorrent Token (BTT) Officially Launched: Sun Appears Live on Twitter
Following the announcement by Justin Sun on Twitter on January 4th where he shared the official website of BTT, Justin Sun appeared in a live stream the next day on January 5th where he talked about TRON foundation and the newly launched BitTorrent Token.
In an official tweet on January 3rd, Sun shared his excitement for unveiling the new BitTorrent Token that is hosting its first crowdfunding on Binance Launchpad, also adding that BTT is one “of many steps” towards achieving mass adoption through a truly decentralized internet.
One of the major goals that Tron foundation is said to be working on is establishing decentralized internet, dubbed Web 3.0, where BitTorrent should be a significant part of this ultimate decentralization scenario.
On the same day, the team also released an official announcement on Medium, where it is stated that BTT is set to enhance the peer-to-peer network.
The token is based in Singapore and is set to enable faster downloads and incentives for seeders, which should encourage a more active community among over 100 million users in nearly 130 countries where BitTorrent is used.
Binance’s Changpeng Supportive Towards BitTorrent Project
BitTorrent Tokens are hosted on Binance Launchpad, which is a service platform made to support “transformative projects” in the domain of cryptocurrency as described by Binance representatives.
The Launchpad is aiming at supporting currencies that have intention in changing the cryptocurrency ecosystem for better, while CZ, the CEO and founder of the top cryptocurrency exchange stated that the Launchpad was made to bring more use cases to the industry and to help companies launch their top projects under the watchful eye of Binance’s technical support.
It is also stated that BTT should have a greater access to resources across Binance network of cryptocurrency-based services.
The leading peer-to-peer technology that BitTorrent represents is operating since 2004, still being widely used as the largest and most popular data sharing platform that is now officially promoting decentralization with the issuance of BTT tokens.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]