BitTorrent, CoinPayments Launching Native BTT Token Support
BitTorrent, the popular peer-to-peer (p2p) torrent client, has revealed its plans of partnering with CoinPayments. The decision to do so would help the former’s native token called BitTorrent Token (i.e. based on the TRON protocol) acquire support through the latter’s cryptocurrency payments gateway.
Tokenizing Content Sharing Ecosystem
According to the press release, BitTorrent launch its native token BTT this January 2019. It is considered the platform’s very first full-fledged move in an attempt to tokenize its entire content sharing ecosystem. The move, in particular, was made possible just about six months after the firm was acquired by TRON, a decentralized internet startup.
As added in the said press release from the company, BitTorrent has already started working alongside CoinPayments. In fact, its collaboration is expected to bring full support to Bitcoin (BTC), TRON (TRX), and Binance Coin (BNB) payments specifically meant for premium services.
With the arrival of the highly anticipated BTC support, users will have the ability to use the token when it comes to paying subscriptions intended for both BitTorrent and uTorrent. The latter, in particular, is designed to offer file conversion, malware protection, and HD video quality streaming.
Transforming BTT to Liquid
The founder of TRON Justin Sun has offered an explanation for the company’s goal of tokenizing the BitTorrent ecosystem. Sun, who is also the CEO of BitTorrent, said that this would help in clarifying the roadmap they wish to take. He said that the partnership between the company and CoinPayments is a move to transform BitTorrent (BTT) to liquid in the online market space. And they believe that this should be done way before it is fully integrated into the platform’s very own mobile and desktop products.
Just this summer, the BTT-backed blockchain application called BitTorrent Speed is believed to be rolled out as part of the Windows-powered uTorrent Classic client from BitTorrent. According to the company’s official site, the app is specifically designed to give users the opportunity to exchange BTT for seeding and bandwidth. And by doing so, the company hopes it could significantly help in making download times of users much faster.
BitTorrent was first developed sometime in 2014. Now, it claims to have around 100 million users, all of which are using its decentralized p2p network. As previously reported, the roadmap for both BitTorrent and TRON’s mutual integration has been coined “Project Atlas.” Its goal is to create a decentralized content distribution platform, which could only be made possible through digital currency.