Cryptocurrency

TRON’s CEO Announces Launch Of BitTorrent Speed

TRON sure knows how to keep its large user base engaged with its exciting products and innovations. The latest announcement from Justin Sun, TRON’s CEO, is yet another treat for his crypto community as he launched BitTorrent Speed on 8th July 2019. In his Twitter announcement, Sun said that how the users would be able to access the product’s first version, which was a mere idea a year ago.

In order to make things more interesting, Sun had made BitTorrent Speed downloadable for users half an before the AMA live stream.

What is BitTorrent Speed?

BitTorrent Speed powers the conventional content sharing with the digital currency token of BTT (BitTorrent). The platform allows users to take advantage of its free, faster downloads and swift file sharing functionalities in return of which it rewards the users in the form of BTT tokens. That means users can earn crypto coins simply by sharing the content files over the internet.

The just-launched BitTorrent Speed offers BTT rewards to users in exchange of bandwidth and seeding, facilitating faster downloads. The users will need to spend BTT tokens for obtaining faster speed while downloading files which in a way will incentivize the file sharer to seed or upload files for an extended duration. At the same time, the users downloading the files get the files they want in significantly lesser time.

What’s more is, users would be able to track as well as manage their earnings along with enhanced download speed all at one place – the dashboard. On the other hand, the encrypted wallet will enable users to monitor their BTT assets easily. As far as sending and receiving tokens is concerned, it can be done through a click, making the process hassle-free.

As per the firm, 100 million users will now have an opportunity to become a part and enjoy the benefits of this decentralized tokenized internet while offering their support to global content creators.

The primary aim of this project is to make sure the content sharing activity becomes completely decentralized. In addition to that, it aims to eliminate the need to split profits with middlemen, such as Facebook and YouTube, who sit between the content creators and users.

BitTorrent Speed is a version of the IPFS, short for InterPlanetary FileSystem, protocol. IPFS is an online open-source file system which can be utilized to build web-based decentralized hard drive, merging the blockchain and BitTorrent effectively.

Sun stated that they want to strengthen the protocol of BitTorrent further with this latest product launch and deliver additional features that stimulate innovation across industry verticals.

Apart from the launch, Justin Sun has also announced an airdrop of 5,000 Bitcoin and 10,000 Ethereum to celebrate the fruitful year of TRON.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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