BitTorrent, the peer-to-peer (p2p) torrent has launched new support for
BitTorrent, the peer-to-peer (p2p) torrent has launched new support for its native token, BTT, as of 7th of February. The token is based on the TRON protocol and will now be supported by CoinPayments’ crypto payments gateway.
The torrent has already tied up with CoinPayments to launch support for TRON (TRX), Bitcoin (BTC) and Binance Coin (BNB) payments for premium services. This new support for BTT, which BitTorrent launched in January, is the most recent in line.
BTT is a token that is part of BitTorrent’s vision to tokenize its content sharing ecosystem. After TRON acquired the company back in 2018, the decentralized tech startup has assisted BitTorrent in its vision.
This new support will allow users to use the token as payment for BitTorrent and µTorrent Pro subscriptions. These subscriptions come with their lucrative perks such as HD quality streaming, file conversion, and malware protection.
BitTorrent was first established in 2004, and currently has over 100 million users in its present decentralized p2p network. This native token is being used by a huge userbase which is why this support is a big deal for the community.
Justin Sun, founder of TRON and CEO of BitTorrent, has outlined the plans that the company has regarding tokenization of the BitTorrent ecosystem.
He has stated that this collaboration with CoinPayments is a bid to “make BitTorrent (BTT) liquid in the online marketplace before [the token] is fully integrated into our desktop and mobile products.”
“Project Atlas”, which is what the collaboration between TRON and BitTorrent is being hailed as, is proving extremely beneficial for both the platforms, especially with their tokenization campaign. It is gradually inching towards creating a decentralized content distribution ecosystem which facilitates the use of cryptocurrency.