The upgrade was designed to support cross-chain connectivity and multi-channel payments to make it easier to use and compatible with more applications. The BTTOLD tokens can still be used to pay fees for storing files in the BTFS system, BTFS mining and increasing downloads using BitTorrent Speed.Īn upgrade of the BitTorrent File System (BTFS) went into testing on 7 January and went live on the BTTC mainnet on 22 February. The new BTT tokens have several uses in the BitTorrent Chain ecosystem: The new token was listed as BTTC on the Binance exchange, but has been listed as BTT or BitTorrent-New on other exchanges. Exchanges re-listed the token in January.
The old tokens will remain in use for some time and have been renamed as BTTOLD. The previous BTT tokens were swapped with the new tokens at a ratio of 1:1,000 and total supply increased to 990 trillion, maintaining the market capitalisation of around $744.4m at the time of writing (21 September). The BTT token was redenominated as part of the BTTC launch. It enables interoperability with the Ethereum, TRON and Binance Smart Chain ( BSC) networks and plans to add support for more blockchains in the future. BTTC is a cross-chain interoperability protocol that uses the proof-of-stake ( PoS) consensus mechanism for validating transactions and sidechains to scale smart contracts. On 12 December, the BitTorrent Chain (BTTC) mainnet went live. will deploy an ‘on-chain/off-chain exchange.’ The exchange will enable the transfer of tokens between a high-performance private ledger and the public TRON blockchain.” “Due to expected volume, direct use of the public TRON blockchain for all transactions is unfeasible. That gives uploaders the incentive to share files for longer and provide more bandwidth and storage to the network.
BITTORRENT MARKET CAP DOWNLOAD
Once their downloads are completed there is no incentive for them to continue uploading.īitTorrent Speed was introduced as an extension to the BitTorrent and µTorrent download clients, which enables downloaders to pay uploaders in BTT tokens for faster download speeds. The longer-term vision is to broaden the usage of the BitTorrent protocol far beyond current use cases by providing a distributed infrastructure platform to third-party app developers, creating the foundation for the decentralised web.”īTT acts as a transaction mechanism for the use of computing resources shared between BitTorrent clients and provides liquidity for services in the ecosystem.īitTorrent has traditionally seen structural inefficiency, as it’s possible for users to complete file downloads before they have uploaded an equivalent volume. “The initial entry point is to introduce token-based optimisations to the existing BitTorrent protocol, providing a way for the value of shared bandwidth to be captured by network participants. The current circulating supply is 945.33 T BTT.US30 US Wall Street 30 (USA 30, Dow Jones) Since it's ICO in Jan 28, 2019, BTT has delivered approximately 7x in ROI. This, however, is $19.50 M short of XEC, which is ranked 63 by market capitalisation.īTT's 1 year high value of $0.00000343 was achieved on Jan 21, 2022. The digital asset now accounts for approximately 0.09% of the total crypto market cap. 0.12% of the overall volume has been contributed by the BTT/KRW pair on Upbit.īTT's current market cap is $765.71 M. Its closest competitor from the Cryptocurrency category, as BSV fell by -1.51% over the same period.īitTorrent has had its trading volume $17.24 M over the past 24 hours. However, over the same period of 7 days, BTT still outperforms BTC. It is now in the red over the past 7 days, with a drop of -1.51% in its price. BTT, which is ranked 53, is currently changing hands for around $0.00000081, which has shown a increase of 3.83% in the past 24 hours.
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