Global torrent client giant, BitTorrent has launched a native token, BitTorrent (BTT) on the TRON Network.
The global peer to peer torrent platform bought by TRON Foundation just six months ago made this know in a blog announcement. The main aim of this token is to tokenize the content sharing ecosystem which reportedly has over 100 million users.
The BitTorrent Token (BTT) will be issued by the BitTorrent Foundation, established in Singapore and will enable users to exchange tokens to improve network speed.
Users will be able to use BTT tokens for faster downloads, as the company aims to accelerate the speed of torrents. In the announcement, Justin Sun, CEO of TRON and BitTorrent cited this step as first of many in efforts to decentralize the internet:
BitTorrent token is the first in a series of steps to support a decentralized internet, In one giant leap, the BitTorrent client can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.
The BitTorrent Token will be based on TRON’s native TRC-10 standard and will be available on Binance’s relaunched Launchpad.
BitTorrent token will first be implemented into the platforms Windows-based client, µTorrent Classic. BitTorrent token-enabled µTorrent Classic clients will be 100% compatible with other clients that support the BitTorrent protocol, and users who wish to opt out will be able to do so in the product’s settings.
Project Atlas which is the codename for TRON’s integration with BitTorrent is on track as earlier details of the project included the creation of a new token to serve as an incentive.
More details are expected to be revealed at the upcoming TRON Conference, niTROn Summit, happening on 17th January in California.