| General information | |
|---|---|
| Global rank: | 2493 |
| Name: |
Bitteam token |
| Symbol: | BTT |
| Current coin price (PHP): | 0.005 ₱ |
| Last hour: | arrow_downward-0.140 % |
| Last 24 hours: | arrow_upward1.19 % |
| Last 7 days: | 2.80 %trending_up |
| Capitalisation (PHP): | 2 204 773.21 ₱ |
| Volume 24h (PHP): | 38 417.05 ₱ |
| Available supply: | 460 999 998.00 BTT |
| Total coin supply: | -1 BTT |
| Start date: | 2020-12-01 |
Bitteam token/Philippine Peso (BTT/PHP) price chart
Bitteam token/Philippine Peso (BTT/PHP) capitalisation and volume charts
BitTorrent Token (BTT) is a cryptocurrency designed to facilitate transactions within the BitTorrent peer-to-peer (P2P) file-sharing network BitTorrent (BTT) the token is a TRC-10 utility token based on the TRON blockchain, a decentralized blockchain platform, BTT was introduced in January 2019 through an Initial Coin Offering (ICO). It can be used to buy or exchange resources such as bandwidth, storage, and computing power on the BitTorrent network.
BitTorrent was initially released in 2001 by developers Bram Cohen and David Harrison. The BitTorrent Foundation was later acquired by the Tron Foundation, led by Justin Sun, in 2018. Following this acquisition, the BTT token was introduced to the public by the BitTorrent team in 2019 through an ICO.
BTT powers a range of decentralized applications, including DLive, BitTorrent Speed, BitTorrent File System, among others. The token has been integrated into the BitTorrent protocol to create a token-based economy for networking, bandwidth, and storage. It enables network participants to capture the value of shared bandwidth.
One of the unique features of BTT is BitTorrent Speed, which allows peers to incentivize each other with BTT to continue seeding files after the complete download, thus enhancing swarm lifetime and download speeds for all swarm participants. Additionally, BTT incentives are available to BitTorrent client implementers, third-party software developers, and online publishers, aiming to increase the variety of participants within the network.
Furthermore, BitTorrent and Torrent software users receive integrated cryptographic token wallets, which, together with the expected widespread availability of BTT wallets, may open the door to new uses for the coin unrelated to BitTorrent technology. The BitTorrent team anticipates that millions of users will amass minor amounts of BTT as a result of offering services, potentially opening up other ways to use their BTT.
BTT serves as a methodological framework for trading computing resources among BitTorrent clients and a liquid market of service requesters and suppliers. In the BitTorrent ecosystem, BTT is the unit used to denominate transactions for the supply of services. The token is divisible, allowing for more precise pricing.