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In a tweet, Justin Sun announced that BitTorrent's giant peer-to-peer file sharing platform will launch its new BTT token and crowdfunding on Binance's Launch Pad. Justin added that the BTT token is one of the first important steps towards creating a truly decentralized Internet. This vision was initially highlighted by the Tron Atlas project. His complete tweet can be found below.
Excited to present our new BitTorrent token $ BTT and his crowdfunding on #BinanceLaunchpad!! The @BitTorrent token is the first of many steps towards the mass adoption of a truly decentralized Internet. come to # niTROn2019 for more information 😉 @binance https://t.co/PwQZuYRKN2
– Justin Sun (@justinsuntron) January 3, 2019
More information on the BTT token and the Binance launchpad
The new token will simply be known as BitTorrent (BTT) and will be issued by the BitTorrent foundation. It will allow users to exchange tokens to improve the speed of the BitTorrent network.
Justin Sun, founder of TRON and CEO of BitTorrent, added that:
With a giant leap, the BitTorrent client can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.
The BitTorrent token has the native TRC-10 compatibility and will be available only for non-US accounts on the Binance Launchpad.
The aforementioned launchpad enables transformative blockchain startups to raise funds to develop their projects and provide them with access to the Binance ecosystem. At the time of writing this, the Binance launchpad has two active projects: BitTorrent and Fetch.AI. The Binance Launchpad team promises to keep the crypto-versa aware of future projects over time.
Binance's CEO Changpeng Zhao said this about the progress of the launchpad.
We have created Launchpad to help entrepreneurs launch their best projects and bring more use cases into the industry.
BitTorrent is a decentralized project by nature, with a large user base, which now adds a new token economy to their use case.
Through Launchpad, BitTorrent will have greater access to resources in the Binance ecosystem. This will be a case study for existing projects.
First, implement the BTT in the Windows-based μTorrent Classic client
The Tron foundation also added that the BTT token will be implemented for the first time in the Windows version of the μTorrent Classic client, which is also the most popular BitTorrent application. BTTorrent Classic clients enabled for BTT will be compatible with other clients that support the BitTorrent protocol. Users will have the option to disable the token function in the product settings. More information on this can be read in the BitTorrent white paper (BTT).
What are your thoughts on BitTorrent that launches its native BTT token on the Tron network and its crowdfunding on the Binance Launchpad? Will this improve the peer-to-peer file sharing platform? Let us know in the comments section below.
Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you
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