12/6/2023 0 Comments Bittorrent token sale![]() He acquired BitTorrent for $ 140 million in June 2018, and he called it “the world's largest decentralized application.” At that moment, it became clear that the future of the project will be somehow connected with blockchain and cryptocurrencies.Īccording to information on the company's website, BitTorrent products “are used by more than 170 million people every month,” and through its “protocols, up to 40% of global Internet traffic passes daily." Given these grandiose figures, it becomes quite clear why Justin Sun did not miss the opportunity to take the finished platform with hundreds of millions of users and reformat it into a cryptocurrency project.Ĭurrently, the BitTorrent team consists of 19 people, 12 of whom are developers. This buyer was crypto billionaire Justin Sun, founder of the TRON cryptocurrency. A year later, the search began for a potential buyer of the company. However, these projects were also recognized as unsuccessful and in 2015, Cohen lost his main investor and fired a third of employees. Then there were attempts to launch the BitTorrent Entertainment Network (an analogue of Netflix) and the BitTorrent Bundle (an Internet platform like Amazon). However, in 2008, having failed to realize this idea, Bram Cohen decided to recapitalize BitTorrent (Nevin had already left the company by that time), returned $ 17 million to investors and later again raised $ 7 million from them. This was followed by a long stage of attempts to monetize the project by attracting venture investments to implement a BitTorrent-based trading platform for selling content. Subsequently, this torrent client was transferred to the BitTorrent protocol and became one of the two main products of the company. In 2006, the company acquired µTorrent, its main competitor. was founded in 2004 by protocol developer Bram Cohen in partnership with US-Indian entrepreneur Ashwin Navin. Future Plans and Prospects for Investing in BitTorrent CryptocurrencyīitTorrent is a popular communication protocol for decentralized peer-to-peer file sharing (P2P), invented in 2001, and currently owned by the San Francisco-based IT company of the same name.īitTorrent Inc.Advantages and Disadvantages of BitTorrent Cryptocurrency.BitTorrent Blockchain Technology Features.BitTorrent Cryptocurrency Concept (BTT).However, the real hype began in early 2019, when it became known about the preparations for the BitTorrent token sale on the Binance Launchpad. The fact that BitTorrent will have its own cryptocurrency, which will motivate users to participate more actively in the project’s ecosystem, became known back in autumn 2018. But BitTorrent (BTT), which has the right to be called not only a pioneer, but also a leader in this industry, became the first project that is currently making another technological breakthrough through integration with blockchain technology. There are currently quite a lot of companies and developers working in this direction. Not everyone knows that decentralization is a key aspect not only in the blockchain sphere, but also the popular p2p file sharing technology among Internet users based on the BitTorrent torrent protocol.
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