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What Is BitTorrent?

Dec 26, 2022
3 min read

This blog post will cover:

  • About BitTorrent (BTT)
  • Where did BitTorrent (BTT) come from?
  • What are the advantages of BitTorrent (BTT)?
  • What are the disadvantages of BitTorrent (BTT)?
  • How to buy BitTorrent (BTT) on SimpleSwap?

About BitTorrent (BTT)

BitTorrent token is the main representative of the TRC-10 tokens in the Tron blockchain. The users could receive a payment for a hosted file. In fact, we can say that BTT is an incentive mechanism. This token could be used for purchasing of content, broadcasting and crowdfunding.

The process of using this coin is pretty clear. Persons who prefer to download high-quality content should pay other users who create or share content.

Where did BitTorrent (BTT) come from?

BitTorrent is one of the most popular file-sharing services. It was created in 2001 by Bram Cohen. In the summer 2018 BitTorrent Inc. was offered for sale. Justin Sun, the creator of Tron (TRX) cryptocurrency, bought this platform. He declared that he would present the real decentralized internet now. The ad hoc BitTorrent network was attached to the Tron blockchain. The main aim was to increase BitTorrent’s efficiency and to extend the capabilities of the network. That is why users should be motivated by a new cryptocurrency. They will receive a certain BTT for the saved BitTorrent files on their PC.

Right after the start of token implementation (in 18 minutes), the team of creators sold more than 60 billion BTT. The full sales of the coin brought creators about 7.2 million U.S. dollars.

Justin Sun promotes BTT with a help of show business and sports stars. That is one of the reasons why BTT is a very popular and successful now.

What are the advantages of BitTorrent (BTT)?

  1. Motivation system for users
    It helps to increase the downloading speed and makes a lot of transactions every second.
  2. It provides the ability to extend the functionality of BitTorrent items
  3. It brings in outside developers of software products for creating new decentralized apps which are based on technical decisions of BTT cryptocurrency
  4. The detailed technical documentation and successful future

What are the disadvantages of BitTorrent (BTT)?

  1. The Massive dismissal of employees after the sale of BitTorrent Inc
    They explained that they did not trust new heads.
  2. The aggressive marketing

How to buy BitTorrent (BTT) on SimpleSwap?

Let’s say you want to buy BitTorrent. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  1. For example, you want to swap BTC for BTT. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  2. Select BTT in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. BTT will be sent. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to BTT exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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