![]() The native utility token BTT based on the TRC-10 standard is now used across various tools and products offered on the platform adhering to its further decentralization.Īccording to the official white paper of the project, BitTorrent Chain aims to provide a high-performance, scalable, and low-cost solution for blockchain platforms combining these features with superior user experience for dApps without giving up decentralization. On January 28th, 2019, he conducted an IEO via Binance Launchpad that helped him raise the required sum of 7 million USD in a record time of only 20 minutes. As the company almost went bankrupt in 2018, it was purchased by TRON’s founder Justin Sun who decided to bring new life to this almost dead project. ![]() However, despite the obvious success, the team standing behind the project was struggling with monetization issues all along the way. Thus, in February 2009, BitTorrent accounted for approximately 70% of the global traffic thanks to various platforms such as The Pirate Bay, μTorrent, BitComet, and others that relied on its protocol. The new approach has quickly gained popularity. The new technology that he came up with implied splitting large files into smaller chunks and distributing them across multiple users which enabled faster and easier downloads while the internet connection speed was pretty low. Having switched to the blockchain rails in 2018 with the help of cryptocurrency entrepreneur Justin Sun, it has eventually transformed into a cross-chain interoperability protocol that leverages sidechains to achieve scalability.īitTorrent was invented by an American programmer Bram Cohen in 2001 with the key goal of facilitating the transfer of large files across the internet. Initially released in July 2001 as a peer-to-peer file-sharing system, BitTorrent has passed a long way since its introduction becoming the most popular torrent platform worldwide.
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