BitTorrent is a pioneering distributed communication protocol invented by Bram Cohen in 2001. It is a peer-to-peer protocol which uses economic incentives to facilitate the delivery of large and highly demanded files around the internet, eliminating the need for a trusted central server. It is an open protocol that has been independently implemented dozens of times and included in software that has been downloaded and installed billions of times in the past 16 years. Today the protocol is in regular use on well over one hundred million internet-connected computing devices each month. The protocol is continuously updated through an open process of BitTorrent Enhancement Proposals (BEPs) moderated on the developer website.
Features & Highlights
- Existing BitTorrent clients will implement an optional set of backward-compatible protocol extensions which allow them to bid and receive bids for their bandwidth, working in tandem with a cryptocurrency wallet and bidding engine.
- The project plans to utilize the BTT in more utility cases beyond the current sharing of bandwidth, expanding access to more services including general storage, computation, and resource availability.
- The token will initially be used in BitTorrent clients as payment in exchange for requesting upstream bandwidth. Usage will be extended to additional capabilities including purchasing content, tipping live streaming performers, and crowdfunding the creation of new works.
Token Sale & Economics
- Project website: https://www.bittorrent.com/
- Project whitepaper: https://www.bittorrent.com/btt/btt-docs/BitTorrent_Token_Whitepaper.pdf
- Token sale start time: Jan 2019
- Ticker: BTT
- Token type: TRC-10
- Total hard cap: $7,200,000
- Total supply: 990,000,000,000 BTT
- Initial circulating supply: 89,100,000,000 BTT
- Public sale token price: 1 BTT = $0.00012 USD
- Public sale allocation: 59,400,000,000 BTT
- Private sale token price: 1 BTT = ~$0.00017741046 USD
- Private sale allocation: 108,192,000,000 BTT
Token Utility & Use Cases
- Current BTT Token Utility: The BTT token is currently in live testing as a mechanism for BitTorrent clients to bid and earn tokens in exchange for contribution of their upstream bandwidth within existing BitTorrent peer-to-peer swarms.
- Future BTT Token Use Cases: The project plans to utilize the BTT token beyond the current focus on sharing of bandwidth, and expand to additional services related to storage, computation, & resource availability, such as the development of a CDN.
- Purchase of Downloadable Media: Users can purchase downloadable assets directly from creators.
- Livestream Tipping: Allow viewers to tip performers during live streams with gifts including BTT that they have earned via uploading, exchange purchase, or other means.
- Crowdfunding For Creative Works: Providing smart contracts that allow creators' fans to escrow contributions of BTT to fund creation of new work.
Roadmap & Updates
- Q1 2019
- Complete on-chain / off-chain exchange server-side development
- Complete swarm analysis framework
- Issue TRC-10 BTT tokens
- Share Wallet UI to early test group
- Q2 2019
- Launch complete Wallet UI to stable client
- Expose Wallet with on-chain/off-chain exchange to an early access group
- Complete BTT airdrop to existing BitTorrent protocol over 100M users
- Q3 2019
- Publish BEPs related to BTT and tokenization of the BitTorrent protocol
- Add wallet support for TRX, and any TRC-10 or TRC-20 tokens.
- Experimental dApp integration
Justin Sun, CEO, Founder and CEO of TRON & BitTorrent. Linkedin.
Justin Knoll, VP of Product Management, 11 years at BitTorrent, Former Director of Engineering (Web) & Chief Architect. Linkedin.
Marcus Zhao, Head of Public Chain , Former Alibaba chief data mining expert. Linkedin.
Rebecca Bronstein, Senior Product Designer. Linkedin.
Cong Li, Head of Developer Community Division. Linkedin.
Pavel Lagutin, Senior Product Director. Linkedin.
Yue Fang, Project Manager. Linkedin.
Utkarsh Khokhar, Engineering Lead. Linkedin.
Steve Siloti, Senior Software Engineer. Linkedin.
Zhimin He, Director of Engineering. Linkedin.
Padam Thakur, Software Engineer. Linkedin.
Elaine Wu, Software Engineer. Linkedin.
Jiaxun Liu, Software Engineer. Linkedin.
Siying Peng, Software Engineer. Linkedin.
Shengwen Yu, Software Engineer. Linkedin.
Robert McDonald, Senior Software Engineer. Linkedin.
Jeanette Liu, Engineering Team Lead. GitHub.
Francisco De La Cruz, Engineering Team Lead. Linkedin.
Chris Fagerlund, Junior Software Engineer. Linkedin.