BitTorrent Token debuts on Binance ICO platform
Crypto exchange Binance is launching its initial-coin offerings (ICO) platform with Tron Network’s BitTorrent protocol. The BitTorrent Foundation will launch the BitTorrent Token (BTT) on the Tron network. This token can be used to pay for files or increase the bandwidth for your connection to the network.
The new iteration of the P2P file sharing software was revealed last year as a part of Project Atlas. Users can spend and earn crypto for sharing files. This supposedly is an incentive to keep the file uploading, even when the download has finished.
BTT can be used to pay users for a personal file transfer. It will also enable consumers to buy more bandwidth, which will speed up the download. These exchanges of BTT are free of cost, as the Tron network doesn’t take any provision or fee.
BTT is a TRC-10 token, and 990 billion tokens will be minted. These tokens will go on sale on Binance Launchpad, its newly launched ICO platform. Binance Launchpad is currently not available for US-based investors.
Tron acquired BitTorrent in June last year. The file sharing protocol is reportedly being used by 100 million consumers worldwide, even though it’s mostly notorious for the illegal side of file sharing. The company will reveal more about Project Atlas and the integration of BitTorrent into the wider Tron network during a presentation later this month.
Originally published at NEDEROB.