BTT [BitTorrent] what? The first IEO detail on Binance Launchpad

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2021-03-23 16:37:26

Opening the series of IEO projects on Binance Launchpad (the launch pad of blockchain projects) in 2019 is BitTorrent (BTT). Let’s CHK Find out what’s HOT in this project!

What is BitTorrent?

  • A protocol that enables peer-to-peer (P2P) file sharing
  • The most common protocol for transferring large files
  • Built on TRON’s blockchain platform

BTT electronic currency

What is BTT?

BTT's main index

BTT is the native token in the BitTorrent ecosystem and is issued as TRC-10. Thanks to the introduction of BTT, the BitTorrent protocol has added a number of new features such as:

  • Providing a distributed infrastructure platform for third-party application developers
  • Allows users to contribute value to the ecosystem
  • Extend the old protocol
  • Allows for faster download speeds and better file lifespan

BTT token use cases

With users

  • Share bandwidth, extend access to many services
  • Buy / download content
  • Raise funds to create new products
  • Pay the seeders (content / file providers) to download files faster

With developers

  • Use BTT to publish their apps or services

With the seeder

  • BTT is used as a reward for their contributions

In addition, BTT is also used to pay rewards in airdrops

BTT token governance and fund usage

As of January 2, 2019, BitTorrent has used approximately 18% of the funds according to the following allocation:

  • [3%] Partnerships and community development
  • [6,5%] Marketing
  • [64%] FTE team expenses
  • [3,5%] Develop
  • [3%] Equipment and software
  • [2%] Juridical
  • [2%] Operating costs

BTT is kept in a TRC-10 compatible multi-signature cold wallet. The unlocking of tokens will be handled by the BitTorrent Foundation.

BTT token issuance schedule

The following chart shows the number of BTTs that will be released into circulation every month

BTT release schedule

Distribution of BTT

  • Public sale accounts for 6% of the total supply
  • Private sale accounts for 2% of the total supply
  • Seed sale accounts for 9% of the total supply
  • Tron Airdrop accounts for 10.1% of the total supply, which will be spread evenly over the next 6 years
  • BitTorrent Protocol Airdrop accounts for 10% of the total supply
  • Team and BitTorrent Foundation are allocated 19% of the total supply
  • TRON Foundation receives 20% of the tokens issued
  • BitTorrent Ecosystem is allocated 19.9% ​​of the tokens issued
  • Partners account for 4% of the total supply

About Private Sale

  • Conducted on November 1, 2018 for a price of 112 BTT = 1 TRX
  • Raised 966,000,000 TRX at $ 0.0001774 / BTT
  • Selling 11% of total supply

About Public Sale

  • Conducted on January 28, 2019
  • Raised 420,000,000 TRX at $ 0.00012 / BTT
  • Selling 6% of the total supply

BTT storage wallet

You can hold in cold wallets such as Trezor, Ledger Nano, … or keep at Tron Wallet. Besides, there are many exchanges that support BTT, so you can store them directly on the floor. Here is a list of exchanges that support BTT

Roadmap dBitTorrent (BTT) project

Quarter 3/2018

  • Implement the client side API
  • Deploy the wallet / bidding engine API
  • Create WIN32 application “Shell”
  • Build Win32 application in Jenkins w / Unit Tests
  • Build BTInstaller

Quarter 4/2018

  • Initial onboard feature and navigation items in torrent client
  • Generate ECDSA secp256k1 key pair for ledger account / address
  • Basic Wallet interface, including balance information

Q1 2019

  • Issuing token TRC-10 BTT
  • Share UI Wallet for test group
  • Complete swarm analysis framework
  • Completed development of on-chain / off-chain trading server

Quarter 2, 2019

  • Complete launching Wallet UI for stable client
  • Expose Wallet with on-chain / off-chain transactions for an early access group
  • Completion of BTT airdrop for BitTorrent protocol currently has over 100 million users
  • Internally tested BitTorrent livestream platform
  • utorrent Web adds new functionality: can select download folder when adding a torrent to uTorrent Web

Quarter 3, 2019

  • Publishing BEP related to BTT and token of BitTorrent protocol
  • Added wallet support for TRX and any TRC-10 or TRC-20 tokens
  • BLive beta release
  • Launching utorrent for MAC users
  • Launch of testnet for livestream application (internal)

Quarter 4/2019

  • To issue BitTorrent Speed ​​v2.2.1
  • BitTorrentSpeed ​​added to uTorrent Windows Client (for new installations)

Quarter 1 of 2020

Trade partnerships and business development

OfficialDLive: The content sharing blockchain platform will join the BitTorrent ecosystem. DLive and BitTorrent will cooperate to provide P2P livestream streaming services to all users worldwide.

Coinpayments: BitTorrent partners with Coinpayments to allow users to purchase BitTorrent and utorrent products using BTT

NordVPN: One of the most popular and trusted VPNs has adopted tPay with BTT

Overview of the BitTorrent development team

BiiTorrent was originally an independent company, founded by Bram Cohen and Ashwin Navin on September 22, 2014. But by 2018, the company was acquired by TRON and Bram Cohen left the company.

Starting in 2018, BitTorrent has made strong progress thanks to the project developed by talented members of TRON.

Currently, Justin Sun is the CEO of BitTorrent and TRON.

Technical overview of BitTorrent (BTT)

Public Github repository:

ds_wallet: Token BTT wallet project

ds_wallet: Token BTT wallet project

atlas-ledger: BTT token ledger project

ut_core: The torent tool behind uTorrent / BitTorrent

BitTorrent Products & Metrics

Total DAU across all BitTorrent products is currently ~ 25 million. The total MAU is ~ 100M. In our group market share analysis, clients BitTorrent accounts for about 50% of global active torrent clients.

BitTorrent’s social and community channel

Telegram (English) | 62K members

Twitter (English) | 53K followers

Facebook (BitTorrent) | 206K Likes

Facebook (μTorrent) | 1.1M Likes

How to own BTT token?

  1. Join the BitTorrent IEO
  2. Buy BTT on exchanges
  3. Join bounty shows or exclusive events
  4. Hold TRX to receive BTT airdrop
  5. Become a seeder

How to profit from BTT

  1. Become a trader or holder
  2. Also, from time to time you can check if Binance supports how to make money with Lending for BTT.

Should we invest in BTT?

This is the first IEO of 2019 and until early 2020, after Binance Launchpad held 11 IEOs, this is still one of the most successful IEOs on Binance in particular and IEOs on other exchanges in general. .

In addition, with the continuous continuous development of the project, you can have some peace of mind when considering “should invest or not”. However, you need to remember that any investment comes with risks. Therefore, CHK hope you need to research and consider carefully before making a decision.

Epilogue

So CHK has brought to you all the knowledge and updates of the BitTorrent project. Hope you have found the necessary information. Wishing you a successful investment!

#BTT #BitTorrent #IEO #detail #Binance #Launchpad

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