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Cryptocurrencies

BitTorrent announces its own cryptocurrency

Friday 4 January 2019 | 09:45 AM CET

BitTorrent has announced its own cryptocurrency token users can buy, sell, or trade to get faster download times.

The goal behind the acquisition of BitTorrent by the cryptocurrency company Tron was to gain access to the network’s consumers, who could enable mass market adoption of cryptocurrency.

File-sharing technologies like BitTorrent rely on the computing power of hundreds of millions of computers on the internet. The new token will enable users of those computers to collect small rewards for allowing their computers to be used. In addition, users can spend the tokens to get faster downloads on the BitTorrent network.

The BitTorrent token is compatible with TRC-10, the basis for Tron’s own cryptocurrency, dubbed TRX. It will be available exclusively to non-US accounts on Binance Launchpad, the token sale platform by the cryptocurrency exchange Binance.

The BitTorrent token will first be implemented in the Windows-based µTorrent Classic client, BitTorrent’s most popular application. BitTorrent token-enabled µTorrent Classic clients will be 100% compatible with other clients that support the BitTorrent protocol, and users who wish to opt out will be able to do so in the product’s settings.

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