The TRON Foundation announced Thursday that BitTorrent, a file-sharing communications protocol based on a peer-to-peer network, is launching its own token that aims to expand on its vision of a decentralized internet.
Today @BitTorrent unveils its new token BitTorrent $BTT which features native TRC-10 compatibility and will be exclusively available to non-U.S. accounts on #BinanceLaunchpad, the token sale platform by leading cryptocurrency exchange @Binance! More info?https://t.co/ydsu4gI9FJ
— TRON Foundation (@Tronfoundation) January 3, 2019
According to the announcement, the new token, also called BitTorrent (BTT), will be launched by the BitTorrent Foundation through Binance Launchpad, the token sale platform by leading cryptocurrency exchange Binance.
“BitTorrent token is the first in a series of steps to support a decentralized internet,” said Justin Sun, founder of TRON and CEO of BitTorrent. “In one giant leap, the BitTorrent client 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.”
BTT will feature native TRC-10 compatibility and serve as a medium of exchange on BitTorrent, allowing users to exchange tokens for faster downloads. When launched on Binance’s Launchpad, a new platform that provides funding and Binance’s advisory resources, BTT will only be available to non-U.S. investors.
“We created Launchpad to help entrepreneurs launch their best projects and bring more use cases to the industry,” said Binance CEO Changpeng Zhao. “BitTorrent is a decentralized project by nature, with a large user base, that is now adding a new token economy to their use case. Through Launchpad, BitTorrent will have greater access to resources across the Binance ecosystem. This will be a case study for existing projects.”
This news comes a little over a month since BitTorrent began accepting major cryptocurrencies for its popular Pro and Ads Free products by integrating with CoinPayments.net, a leading integrated payment gateway provider for cryptocurrencies.
Users can now use TRX, Binance Coin (BNB) and Bitcoin (BTC) to purchase 1-year subscriptions of BitTorrent or µTorrent products, including Ads Free and Pro for Windows. The Pro version includes anti-virus and anti-malware screening, file converting and playability in HD.
The creation of BTT will further expand of the payment options that were made originally possible through BitTorrent’s product offerings. TRON notes that more information will be released at niTROn Summit on January 17–18 in San Francisco.
Photo: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.