{"id":10423,"date":"2023-01-14T08:26:07","date_gmt":"2023-01-14T08:26:07","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10423"},"modified":"2022-05-17T07:17:30","modified_gmt":"2022-05-17T07:17:30","slug":"what-is-bittorrent-token-and-how-does-it-work","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bittorrent-token-and-how-does-it-work","title":{"rendered":"What is BitTorrent token and how does it work?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bittorrent-token-and-how-does-it-work\/#history_of_bittorrent\" >History of BitTorrent<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bittorrent-token-and-how-does-it-work\/#how_does_bittorrent_btt_work\" >How does BitTorrent (BTT) work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bittorrent-token-and-how-does-it-work\/#btt_wallets\" >BTT Wallets<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>You may have heard of BitTorrent (<strong>BTT<\/strong>), but don\u2019t know what it is exactly. In this article we will tell you all about this cryptocurrency.<\/p>\n<p>BitTorrent is a cryptocurrency that operates on the<strong>\u00a0Tron Foundation\u2019s<\/strong>\u00a0blokchain network. It is currently a cryptocurrency that is among the top 30 in the ranking according to its market capitalization.<\/p>\n<p>This cryptocurrency was developed to\u00a0<strong>tokenize<\/strong>\u00a0the BitTorrent project. The BitTorrent protocol is a\u00a0<strong>decentralized<\/strong>\u00a0file sharing system that is currently the most popular worldwide.<\/p>\n<p>If you want to learn more about this cryptocurrency and its project, we tell you all about it in this article.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_bittorrent\"><\/span><strong>History of BitTorrent<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>The history of this cryptocurrency begins with the creation of the company BitTorrent Inc. This company was founded by\u00a0<strong>Bram Cohem<\/strong>\u00a0in\u00a0<strong>2001<\/strong>. Bram is a well-known American who stands out for his software engineering skills. It was only a matter of time before his project became known and today it is the\u00a0<strong>most important<\/strong>\u00a0in terms of file exchanges.<\/p>\n<p>The protocol was created in<strong>\u00a0April 2001<\/strong>\u00a0to publish its first implementation in\u00a0<strong>July<\/strong>\u00a0<strong>2001<\/strong>. The company belonged to Bram Cohem until<strong>\u00a02018<\/strong>, when on June 18 it became part of the Tron Foundation. It was bought by Justin Sun for the value of\u00a0<strong>140 million dollars<\/strong>.<\/p>\n<p>It should be noted that the project moves more than\u00a0<strong>40% of the world\u2019s file traffic<\/strong>\u00a0on the Internet.<\/p>\n<p>BitTorrent, as time went by, added new<strong>\u00a0tools<\/strong>\u00a0for the use of the platform. Among these tools is its\u00a0<strong>native cryptographic token BTT<\/strong>. This was launched in February 2019. It was already owned by the\u00a0<strong>Tron Foundation<\/strong>\u00a0and the cryptocurrency was launched on the TRON blockchain based on its TRC-10 standard.<\/p>\n<p>In January 2019, the\u00a0<strong>ICO<\/strong>\u00a0for the BTT token was held. It managed to raise more than\u00a0<strong>7 million<\/strong>\u00a0by selling 60 billion BTT in minutes. In the following days the token\u00a0<strong>increased<\/strong>\u00a0its price from 0.00012 USD to 0.005 in three days and so on.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1133293979\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu%C3%A9-es-BitTorrent3.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent3-300x205.jpg 300w\" alt=\"Qu\u00e9-es-BitTorrent\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent3-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent3.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_bittorrent_btt_work\"><\/span><strong>How does BitTorrent (BTT) work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>BitTorrent (BTT) is a\u00a0<strong>TRC-10<\/strong>\u00a0cryptographic token that runs on the TRON blockchain. You still don\u2019t know what TRON is, you can find out\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-tron-trx-the-complete-guide\/\">in this article<\/a>.<\/p>\n<p>But back to BitTorrent, this digital currency was created with the aim of\u00a0<strong>improving<\/strong>\u00a0the BitTorrent protocol and being able to\u00a0<strong>link it<\/strong>\u00a0to the blockchain.<\/p>\n<p>Unlike cryptocurrencies such as Bitcoin, BTT has a\u00a0<strong>delegated<\/strong>\u00a0proof-of-stake\u00a0<strong>mining<\/strong>\u00a0mechanism. This token is used within the platform as an<strong>\u00a0incentive<\/strong>\u00a0for its users. All those who keep and share the full\u00a0<strong>copy<\/strong>\u00a0of the files stored on their computers (also known as seeds) are\u00a0<strong>rewarded<\/strong>\u00a0with BTT tokens.<\/p>\n<p>This work does not require a large investment or extraordinary equipment. The user is simply\u00a0<strong>compensated<\/strong>\u00a0for\u00a0<strong>storing files<\/strong>\u00a0on his or her computer. It is as easy as downloading a copy of a movie, book or game and sharing it with other users. It should be noted that in order to obtain a\u00a0<strong>significant amount<\/strong>\u00a0of BTT it is necessary to download a\u00a0<strong>large number<\/strong>\u00a0of such files.<\/p>\n<p>Since its launch, TRON set the limit of\u00a0<strong>990 billion BTT<\/strong>. These tokens are\u00a0<strong>distributed<\/strong>\u00a0using the following pattern: 9% seed investment round, 2% sealed offering, 4% affiliate programs, 6% public bidding, 10% airdrop for Torrent users, 19% developers, 10.1% airdrop for Tron users, 20% Tron Foundation and 19.9% Active BitTorrent Incentive.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_944839698\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu%C3%A9-es-BitTorrent1.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent1-300x205.jpg 300w\" alt=\"Qu\u00e9-es-BitTorrent\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent1-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/04\/Qu\u00e9-es-BitTorrent1.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"btt_wallets\"><\/span><strong>BTT Wallets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>When obtaining BTT we will need a wallet where to store them. This wallet must have the BTT storage capacity. Here are some of the wallets you can use. BitTorrent does not have its own\u00a0<strong>wallet<\/strong>\u00a0so we will see digital wallets from other developers.<\/p>\n<ul>\n<li><b>TronWallet<\/b>\u00a0is one of the options for BTT storage. It is a storage wallet available for both iOS and Android.<\/li>\n<li>There are other options such as\u00a0<strong>Exodus Wallet<\/strong>. This digital wallet is available in a mobile version and has a simple interface ideal for getting started in the world of cryptocurrencies.<\/li>\n<li>For BTT storage we can also use compatible wallets such as\u00a0<strong>Trust Wallet, Huobi Wallet and Gate.io.<\/strong><\/li>\n<li>If you are looking for more security the most feasible would be to use a\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-3-best-cold-wallets-to-hold-cryptocurrencies\/\">cold wallet<\/a>\u00a0such as\u00a0<strong>Ledger Nano S<\/strong>. This wallet provides off-line storage that guarantees the security of your assets.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>You may have heard of BitTorrent (BTT), but don\u2019t know what it is exactly. In this article we will tell you all about this cryptocurrency. BitTorrent is a cryptocurrency that operates on the\u00a0Tron Foundation\u2019s\u00a0blokchain network. It is currently a cryptocurrency that is among the top 30 in the ranking according to its market capitalization. This [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10423"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7968"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}