|Issuing Price||$0.00012 USD (TRX & BNB TBD)|
|Circulating Supply||89,100,000,000 BTT|
|Total Supply||990,000,000,000 BTT|
Many internet users today are familiar with the BitTorrent peer-to-peer protocol invented by Bram Cohen that powers the torrent clients used around the world. The addition of the BTT token extends the familiar protocol to create a token-based economy for networking, bandwidth, and storage resources on the existing Bittorrent network, thus providing a way for network participants to capture the value of sharing bandwidth and storage.
Users of torrent clients are familiar with challenges such as slow downloads and files that become unavailable over time. By creating incentives for users to share, the token will enable faster download speeds and better swarm longevity for the entire network.
By introducing the BitTorrent token (BTT), BitTorrent will provide a distributed infrastructure platform to third-party app developers that enables consumers to continuously contribute small amounts of value from their devices by allowing others to make use of their spare resources.
BitTorrent Token (BTT) is a TRC-10 token running on the Tron Network
When torrenting, the biggest frustration for the end user is how long it takes to find and completely download the desired content. Users do not want to wait hours or days to get the movie they want to watch or the game they want to play. Currently, there is no incentive for individuals to continue seeding files to the network once they receive their content, resulting in a tragedy of the commons.
With the addition of the BTT Token, those who do not want to wait a long time to complete a download may utilize the token to incentivize more seeders for desired content, thereby accelerating download speeds.
However, paid consumers are not the only ones who benefit; the token is an opt-in model, meaning that individuals that do not want to pay or charge for torrenting can always continue to do so. The possibility that a user can receive tokens of value natively within their torrent client means that there is a tangible expected monetary value reward for choosing to seed files, beyond the current rewards of a non-throttled download speed and the altruistic reward of maintaining a healthy sharing ratio. With the potential to earn, the token can also disincentivize users from turning off seeding once they receive the files they want, because of the opportunity cost of forgone seeding income.
The effect of increased file availability from introducing the BTT Token is even more prominent for rarer resources and files — the potential willingness to pay from consumers necessarily means that the potential earning power for seeding rare files is even higher, which then encourages these files to actually be hosted within the network. Thus, the average user that does not pay is still able to benefit from the increased file availability across the BitTorrent network, as more files should theoretically be available to the network as a whole because of this increase in expected reward for seeding.
Much like the freemium models popularized by content streaming sites such as Spotify, free-tier users still enjoy the benefits of greater content availability because other revenue streams incentivize content creators to earn rewards for contributing to the platform.
In short, content providers can earn for their efforts, non-paying consumers can enjoy increased access to content, and paid consumers can enjoy accelerated access, a win-win for all.
Within the BitTorrent network, anyone with the complete file can become a seeder — if more people receive the complete torrent, more people can become seeders, thus compounding the level of availability that can be provided to the network. In essence, those who pay to accelerate their download process of one torrent can further increase the availability of the file, helping increase access for other torrenters.
|KEY METRICS||[as of 15 Jan 2019]|
|Seed Sale Allocation||9% of tokens|
|Private Sale Allocation||2% of tokens|
|Private Sale Token Price||~$0.00017741046 USD|
|Private Sale Date (Completed)||1 Nov 2018|
|Amount Raised Private Sale||$19,320,000 [966,000,000TRX]|
|Public Sale Allocation||6% of Tokens|
|Public Sale Price||$0.00012 USD|
|Public Sale Date||28 Jan 2019|
|Public Sale Target Amount||$7,200,000 USD|
|Initial Circulating Supply||89,100,000,000 (9.97%)|
Conducted on 1 Nov 2018 for TRX at a rate of 112 BTT = 1 TRX, raising 966,000,000TRX at $0.0001774 per token by selling 11% of total supply.
Conducted on 28 Jan 2019, raising 420,000,000TRX at $0.00012 per token by selling 6% of total supply.
As of 2 Jan 2019, BitTorrent has used approximately 18% of Seed Round funds according to the allocations below:
Tokens are held in a TRC-10 compatible cold wallet. The unlocking of tokens will be handled by the BitTorrent Foundation. The foundation utilizes multi-sig wallets that the CEO, Head of Finance, Trading Director and Finance Controller have access to, of which three must be present in order to unlock funds.
The following chart represents the number and breakdown of all BTT tokens that are to be released into circulation on a monthly basis.
Note: TRON Airdrops continue for 6 years until 2025, and BitTorrent Airdrops, BitTorrent Ecosystem tokens, & Partnership tokens continue unlocking until 2028. The rate of distribution tapers over time. Please refer to the official notices of the BitTorrent Fuondatino for timely and accurate information.
Current BTT Token Utility:The BTT token is currently in live testing as a mechanism for BitTorrent clients to bid and earn tokens in exchange for contribution of their upstream bandwidth within existing BitTorrent peer-to-peer swarms.
Future BTT Token Use Cases:
The project plans to utilize the BTT token beyond the current focus on sharing of bandwidth, and expand to additional services related to storage, computation, & resource availability, such as the development of a CDN.
|PLANNED DATE||MILESTONE||ACHIEVED DATE||TIMING|
|Q3 2018||Wallet process lifecycle code||Q3 2018||On Time|
|Q3 2018||Implement client side API||Q3 2018||On Time|
|Q3 2018||Implement wallet/bidding engine API||Q3 2018||On Time|
|Q3 2018||Create Win32 Application "Shell"||Q3 2018||On Time|
|Q3 2018||Build Win32 application in Jenkins w/ Unit Tests||Q3 2018||On Time|
|Q3 2018||Build BTInstaller||Q3 2018||On Time|
|Q4 2018||Initial feature onboarding and navigation items within the torrent client||Q4 2018||On Time|
|Q4 2018||Create ECDSA secp256k1 key pair for ledger address/account||Q4 2018||On Time|
|Q4 2018||Cryptographically sign payment channel updates from wallet||Q4 2018||On Time|
|Q4 2018||Basic Wallet interface, including balance information||Q4 2018||On Time|
Commercial Partnership and Business Development Progress
The TRON team is also working to bring content from TRON Arcade games, song artists, and news sites to BitTorrent and the BitTorrent Now product.
The total team is nineteen people, with twelve developers.
BitTorrent is a well-known and mature product with 351 github repositories; 120 are public and the rest are private. For the BTT token project itself, all the repositories being actively worked on are currently private. Below is the list of top repos for the BTT project:
BTT Token wallet project
BTT Token ledger project
The torrent engine behind uTorrent/BitTorrent
Total DAU across all BitTorrent products is currently ~25M. Total MAU is ~100M. In the team's market share analysis, BitTorrent clients comprise about 50% of globally active torrent clients.
The Official BitTorrent Client can be downloaded here.
The lightweight μTorrent Client can be downloaded here.
The top priority for the BitTorrent team is to make blockchain technology more accessible and easy to understand. After integrating blockchain into its already decentralized ecosystem, the BitTorrent team can then roll out subsequent strategies targeting communities around gaming, entertainment, and other verticals of media and content.
For the BitTorrent and uTorrent Facebook accounts, the follower demographic contains ~76% men and ~70% also have higher education. The userbase is dispersed across many countries, including Brazil (14%), India (10%), United States (6%), Philippines (4%), Italy (4%), Pakistan (4%), Egypt (3%), Romania (3%), and United Kingdom (3%).
The BitTorrent Twitter account has ~70% male followers and ~30% female followers.
|Upfiring||A peer-to-peer file-sharing desktop application that encrypts and distributes files between peers over a decentralized network. Users earn tokens by seeding files. The movement of tokens and files on the network is mediated by smart contracts, allowing for trustless exchanges.||UFR||ETH||Testing|
|Flixxo||Video peer-to-peer distribution platform incentifying content creators with utility tokens. Users can earn, spend transfer between accounts, or cash out.||FLIXX||ETH||Active|
|JoyStream||A peer-to-peer application that uses Bitcoin Cash as an incentive for BitTorrent users that compensate each other for content.||BCH||Bitcoin Cash||Testing|
|LBRY||LBRY is a free, open, and community-run digital marketplace where creators upload their work to the LBRY network of hosts and set a price (can be free) per stream / download.||LBC||LBRY||Active|
Because BitTorrent has been the world's largest decentralized ecosystem since 2001, BitTorrent has a massive content advantage over similar blockchain powered content ecosystems. Controlling 40-50% of the BitTorrent protocol's usage worldwide, BitTorrent and μTorrent clients tap into a large userbase (with 25M DAU and 100M MAU) that contributes nearly a quarter of the global online content distribution. BitTorrent is responsible for 22% of global upstream traffic and 3% of global downstream traffic (as of 2 Oct 2018).