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BitTorrent (BTT) | Rating: 8/10 | Outlook: Positive
BitTorrent is the world's largest file sharing protocol. They recently completed an ICO that saw them issuing the BitTorrent token (BTT). This will be used in the BitTorrent ecosystem as an incentive mechanism to encourage seeding on the Peer to Peer network. BitTorrent was purchased in 2018 by Justin Sun, the founder of Tron (TRX). This is significant not only because it helped drive promotion of the ICO but also because the BTT token is being created on the Tron blockchain. It will be a TRC-10 token and there will be an airdrop of BTT tokens to those who currently hold Tron. Technologically, one of the first implementations of the incentive mechanism will be the BitTorrent speed. The BTT token will be used by peers to increase their position in the download queue. This will incentivise those other peers on the network who are seeding. There will also be other use cases for the BTT token including a content delivery system that will allow users to advertise their bids and pay BTT to receive content faster. It can also be used as a storage incentive platform. Lastly, it can also be used as a proxy service where users with unreliable internet connectivity can pay a client to retrieve content by URL. The BitTorrent ICO was the first token to complete a raise on the Binance Launchpad and as such, had one of the largest ICOs of 2019. The sale ended in less than 15 minutes, raising $7.2 million for BitTorrent. This was also following a $20 million private sale that occurred before this. There is a strong team behind BitTorrent as well as strong community interest in the token both from BTT and from the Tron ecosystem. While the GitHub is not public as of yet, there seems to be a pretty substantial roadmap in place. Currently, the bulk of the BTT tokens are being traded on Binance and UpBit. They have been quite volatile in recent days especially on the upcoming airdrop to Tron holders. There is, however, strong liquidity for the token.
BitTorrent Report：A decentralized storage platform as well as a P2P file sharing protocol with token incentives
Advantage: The project is created by a well-known company in the early days of the Internet era, and achieved wide market share as well as popularity. It is one of the top blockchain projects by popularity and ecosystem. Disadvantages : The mode is out-of-date and lacks competitiveness. The progress remains unknown due to the lack of roadmap and open GitHub repository. The team members have not been disclosed so far.
BitTorrent(BTT) Qualification:Bbb, Risk: Medium.
Rating Overview Qualification summary: Bbb • BitTorrent users can choose not to upgrade and follow the previous Token-free protocol. According to the white paper, the BitTorrent protocol itself will not be amended as possible. To pay for faster Torrent download by BTT is an exploration of incentive mechanism based on BitTorrent protocol. Most of Torrent functions can be used free of charge, how to change the payment habits of the original users and accept the way of BTT is a diﬃcult problem to be solved in the initial stage. • The team is experienced in building and maintaining distributed networks. And it has established good user base, with a certain amount of technical precipitation and accumulation. • The cooperation of BitTorrent and TRON will test the performance of TRON network. In response to outside doubts about throughput and carrying capacity, TRON has oﬃcially responded that BitTorrent would deploy on-chain/oﬀ-chain swap protocol to solve the problems. • The supply of initial circulation is only 9.97%. In the ﬁrst year, it will reach nearly 35% circulation volume. Risk summary: Medium •As a case of distributed network application, BitTorrent is well suited. TRON regards it as the ﬁrst major push on its ecosystem. • Bram Cohen, former CEO of BitTorrent, said on Twitter that he no longer had any relationship with BitTorrent. Simon Morris, a former employee, also expressed doubts about the performance of the TRON network. TRON has made oﬃcial response accordingly. At present, Sun Yuchen has decided to become the new CEO of BitTorrent, and it is expected that he may possess absolute discourse power. However, to this regard, BitTorrent may also exert excessive eﬀorts in marketing. • BTT carries out crowd funding on the Launchpad platform of Binance, and limits 20,000 USD form participants. The concentration of chips released completely in the early stage without locked position is reasonable. • BTT has the potential to be listed on mainstream exchanges.