For an unconfirmed amount (rumored to be $126 million), Tron did acquire BitTorrent and just like that they had access to more than 170 million monthly users spread across 133 countries complete with a 22 percent upstream traffic. This acquisition is part of their overall strategy: that of decentralizing the internet and acting as the future of media partly by creating this decentralized entertainment ecosystem.
Remember, the BitTorrent is itself a protocol and although many think they can download copyrighted files from BitTorrent, that is not actually the case. What happens is that the protocol via trackers, help the peers connect to seeders. Everything is peer to peer and there are no single point of failures allowing incensed parties to sue the “protocol”. It is also censor resistant embodying the very tenets of blockchain. Now, before this acquisition, seeders were not incentivized but with the launch of the BTT token off the Tron’s TRC-10 standard, there is a way for participants to earn extra funds for their selfless work.
According to their whitepaper, the BTT token will be part of creating a “token-based” economy and optimization of the BitTorrent network allowing for the effective transfer of value between participants. Tron is basically tokenizing one of the world’s largest software allowing individuals to draw value from their participation. Part of this value will be drawn from the super-fast platform powered by BTT. Consequently, a Tron supporter now claim that Tron exemplifies what Satoshi meant by value and BTT is fulfillment of Satoshi’s vision which he stated 11 years ago. In an extract, the supporter going by the Twitter handle: Crypto_Tone1 says it is hard to be a “hater” of Tron.
Here’s the full tweet:
Satoshi’s vision – coins trading within a very large network like BitTorrent. Those were his words 11 years ago. $TRX & $BTT will trade within that network which happens to be owned by #TRON . How could one still be a hater of TRON lol pic.twitter.com/95dY504OSP
— Crypto Tone (@Crypto_Tone1) January 27, 2019
BTT Token Sale in Progress
For those planning on making investment, the first thing they can do is purchase TRX or BNB. TRX is the native coin in Tron. Meanwhile, BNB will also draw some demand because the sale is via Binance Launchpad.
This is how allocation has been done. Remember, BTT sale is on a first come first serve basis:
Users will be able to purchase BTT tokens using both TRX or BNB. Select the session of your preference to move to the next step.
Note that 60% of the BitTorrent tokens (35,640,000,000 BTT) will be allocated to the TRX Session. 40% (23,760,000,000 BTT) to the BNB Session. The total Allocation is 59,400,000,000 BTT (6% of Total Token Supply)
Binance, in their latest update said the BTT token sale began today at 2019/01/28 3:00 PM (UTC) but KYC rules apply and verification is mandatory.
Details are as follows:
Token sale prices for each session are now locked and set at:
1 BTT = 0.00001824 BNB (using a BNB price of 6.58000 USD)
1 BTT = 0.00447261 TRX (using a TRX price of 0.02683 USD)
Minimum contribution amount: 100,000 BTT (1.824 BNB or 447.261 TRX) = 12 USD
Maximum contribution amount: 166,666,666 BTT (3,039.999 BNB or 745,434.997 TRX) = 20,000 USD
TRX owners with accounts at leading exchanges as Huobi, Binance, OkEx and others will receive airdrops from Feb 11.