BitTorrent announced this Thursday that they are going to be launching their own cryptocurrency. The new BitTorrent Token (BTT) looks set to be used as some sort of reward for users of the peer-to-peer network.
Many of us will remember from our younger days when we definitely, never, ever used it to download films, TV shows, music and pieces of software. And though you may not have used it for some time, Tron, the company which owns BitTorrent, estimates that its system has 100 million users.
A new BitTorrent
The new token may help to resolve this problem and help improve the efficiency of the BitTorrent network. Users who share their files for download could receive tokens which could, one presumes, be exchanged for something else, whether it be goods, cryptocurrency or fiat currency.
“In one giant leap,” said company CEO Justin Sun, “we 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.”
Thursday’s announcement comes just six months after by the founders of the cryptocurrency Tron. In September, shortly after that deal was completed, Tron announced plans, which it called “Project Atlas,” to create “a content sharing ecosystem” that would see it integrating with BitTorrent.
BTT may be the fulfilment of those plans although, , Tron did say that it would be using its own cryptocurrency to facilitate the creation of that ecosystem.
Nonetheless, it’s exciting times in the world of peer-to-peer file sharing. Maybe we’ll see a LimeWire cryptocurrency sometime in 2019. Now that would be cool.
BitTorrent to Launch Tron-Based Cryptocurrency
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