BitTorrent Token: insights

BitTorrent Token: insights

By odisseo | Cryptodyssey | 27 Sep 2020


Everyone knows BitTorrent, the most popular P2P protocol on the planet.

Few people know that the company that develops, in addition to the protocol, also the official μTorrent client, has been acquired by the Tron Foundation. This foundation develops the blockchain of the same name and has introduced a new technology called BitTorrent Speed, based on a special BTT token.

To understand BitTorrent Speed ​​technology, let's take a step back, going back to the times when BitTorrent was not so widespread.

The most popular P2P software at the time was eMule. This program implements a credit system, a simple and effective way to introduce the concept of recognition among the users of the program.

Wanting to simplify the functioning of eMule credits, let's say that when a user downloads a file from another user, he recognizes a credit. This credit is useful in a situation where the roles of the two users are reversed; therefore, it is necessary to queue the users who request a certain file. Whoever has the most credits tops the list and thus downloads the file faster.
The credit system is important to encourage users to share.

BitTorrent Speed ​​reinterprets this system in a modern key, thanks to the cryptocurrency. Today μTorrent users can earn BTT tokens (credits) by sharing and keeping files (seeding) with the network. Those who hold BTT tokens can spend them to climb waitlists and download torrents faster, gaining priority over others. Unlike eMule credits, BTT tokens can be purchased and then converted into cash.

BTT tokens can be purchased on Binance.

In principle, I am in favor of this technology. Sharing is essential for the proper functioning of the BitTorrent network; I therefore think it is right to introduce a system of gratitude towards those who share the most. This would benefit everyone.
However, there are some critical issues.

The first problem is related to the perception of people who tend to misunderstand this function thinking that now they will have to pay to download something.

The second problem is related to the nature of the technology. It was strongly desired by the Tron foundation, which is entirely comparable to a company that follows private economic interests. Using BTT tokens is to their advantage. Developers of free and free BT clients are disinterested or openly opposed to the adoption of such a technology.

The third problem is related to the implementation of the technology, an exclusive of μTorrent, the client currently most used. Initially μTorrent was a free and open source project, now it is a proprietary, closed source software, full of advertisements and there is also a paid version.

The problems listed have led to the lack of interest in BitTorrent Speed ​​both in developers and in the mass audience.

What do you think about it?

 

Thank you for taking the time to read this article.

Ad maiora!

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odisseo
odisseo

odisseo is a civil/environmental engineer. Passionate about cryptocurrencies, blockchain technology, cybersecurity.


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