With the cryptocurrency market in a hot frenzy of bullish action, it’s only natural that a good number of people would be interested in BTT Token. Especially when considering BitTorrent’s impressive user base and extensive history of favoring the decentralized approach to the internet.

It leaves a number of pressing questions like: did BitTorrent ever actually need an in-house cryptocurrency? Does BTT Token have any real use or is it purely speculative? Does Token economics make it a worthwhile buy from an investor’s perspective? To answer these questions, let’s take it back to the beginning.

BitTorrent’s history

BitTorrent’s life began when developer Bram Cohen, the founder of Torrent inc, started designing the protocol in April 2001 before the launch of version 1.0.0 a few months later on the 2nd of June.

In its earliest iterations, BitTorrent was free software that was released with no licensing whatsoever and remained this way until the release of version 6. From then onwards, BitTorrent evolved into a rebranding of torrent and is no longer open source.

It was designed to let users take advantage of a peer-to-peer network in order to share pretty much any content for free, which is probably why it grew so large. However, BitTorrent was not without its own flaws.

Using BitTorrent was risky business, one of those being the risk of your device catching a virus. Another one was the lack of anonymity involved. Because people were required to share their IP addresses for it to work, only those who were tech-savvy enough to mask their IP addresses were truly safe.

However, this did deter users. In fact, BitTorrent continued to grow and It was this growth that would bring about the first major problems for the company. The popularity of BitTorrent coupled with the fact that content was distributed for free caught the attention of the entertainment industry, leading to threats of legal action for reasons related to piracy.

BitTorrent and the BTT Token

And then came the cryptocurrency era, and BitTorrent was not about to get left behind. So, they launched their very own BitTorrent Token. The token has a market cap of over $2 billion and saw a massive spike in the earlier part of the year,  going as high as $0.01269 before crashing to $0.004238.

As for practical use cases, “BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content.” as per CoinMarket cap.

However, there is a long way to go before achieving this. Furthermore, to get a better reading of whether or not BTT is a good buy, one has to properly consider the fundamentals. Yes, BitTorrent has a major user base. However, the token’s total supply sits at 990 billion – with more than 600 billion of that already in circulation.

Though it may have a valid use case, the true value of BTT is subject to the cycle of supply vs demand. Furthermore, to truly gain ground BitTorrent has to work more actively in pushing forward their own idea of disrupting the entertainment industry. Only then that we might see the true potential of BTT.

The post BitTorrent & BTT Token; The History & The Way Forward  appeared first on Bizznerd.

At a block height of 6.6 million blocks on the Tron network, BitTorrent began it’s airdrop program, with 10 billion BTT tokens being added to the coin portfolios of active TRX wallets. Tron wallet addresses holding a value equal to, or above a single TRX token are automatically credited with BTT tokens corresponding to the number of TRX tokens it holds.

In 2020, The BitTorrent Foundation plans to drop about 13.8 billion BTT tokens into the portfolios of Justin Sun’s Tron network’s TRX token holders. The blockchain organization even aims to increase that supply by 0.1% per year, for the duration of the airdrop program. 

Eligible Address

As stated above, a Tron network registered address with an amount equal to, or more than 1 TRX coin will be eligible for the airdrop. No action on the side of the TRX address owner is required, accept for the requirement of owning the private keys to said wallet, of course.

Custodial services like digital asset wallet firms and exchanges are included in the airdrop program, but the number of participating firms is kept to a select few. Users of custodial TRX wallets are advised to contact their service provider for more details on whether or not they participate in the airdrop. 

Atomic Wallet and Binance are two blockchain firms which participate in the TRX × BTT airdrop program. Freewallet, and exchanges, Huobi, Bittrex, Poloniex, AltCoinTrader, and a few others support the airdrop as well. It would behoove a user to confirm support from their chosen provider before depositing TRX into the wallet in the hope of receiving their share of the airdrop.

Users who receive BTT tokens through the official airdrop will, in turn, gain early access to the BitTorrent network’s technology. BTT holders can already transact the digital asset for goods and services available on the foundation’s partner platforms. What the airdrop does not constitute – the foundation stresses – is a dividend payout, or any other form of investment related return.

Beware of Scams

BitTorrent, the firm behind file sharing platform, uTorrent, also mentions the fact that there have been a number of scams cropping up all over social media, of accounts claiming to be affiliated with BitTorrent or the airdrop program. The organization warns users to be wary of such solicitations, as BitTorrent will only communicate with it’s community through official channels, not through third parties.

About BitTorrent

BitTorrent is a torrent platform firm, focused on providing a more libertarian internet trough encrypted file sharing platforms uTorrent, and namesake BitTorrent. The organization was acquired by content sharing purposed blockchain platform, Tron, in 2018. The BitTorrent token, or BTT, was release in mid-2019 to much fanfare and media buzz. The acquisition of BitTorrent by Tron was taken by the industry, as a whole, to be a bid to improve Tron’s file sharing and security protocols.

The post Hold TRX To Receive Free BTT Tokens In Tron × BitTorrent Airdrop Program appeared first on Bizznerd.