BitTorrent has Announced the Launch of its Native Token—BTT

BitTorrent has Announced the Launch of its Native Token—BTT

BTT token

According to a recent press release, BitTorrent Inc., a leader in peer-to-peer protocols and products, has announced the launch of a token. The newly launched token is expected to help “expand upon its vision of a decentralized internet.”

BitTorrent (BTT) Token

The new token— BitTorrent (BTT), is going to get issued by the platform’s foundation—the BitTorrent Foundation situated in Singapore. The foundation will also allow the exchange of these token to improve network speed.

In order to encourage faster downloads, holders of the BTT tokens will have the option of accelerating their overall torrent download speed.
The CEO of BitTorrent, Justin Sun has also issued some statements regarding this recent development.
Justin stated that:
“BitTorrent token is the first in a series of steps to support a decentralized internet. In one 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.”

Binance Launchpad

According to the press announcement made by the company, the BitTorrent (BTT), will be compatible with native TRC-10, the can be accessed by non-U.S. accounts registered on Binance Launchpad, exclusively.

The CEO and Founder of Binance, said Changpeng Zhao (‘CZ’), has also issued some statement regarding the use of Binance as the sole trader of the BTT tokens.

Zhao stated that:
“We created Launchpad to help entrepreneurs launch their best projects and bring more use cases to the industry. BitTorrent is a decentralized project by nature, with a large user base, that is now adding a new token economy to their use case. Through Launchpad, BitTorrent will have greater access to resources across the Binance ecosystem. This will be a case study for existing projects.”

According to the press release, “BitTorrent token will first be implemented into the Windows-based µTorrent Classic client, BitTorrent, Inc.’s most popular application”.