Many internet users today are familiar with the peer-to-peer protocol BitTorrent, invented by Bram Cohen, which powers Torrent clients used around the world. With the TRC-10 utility token BitTorrent (BTT) built on the TRON blockchain, BitTorrent extends its familiar protocol to create a token-based economy for network, bandwidth, and storage resources on the existing BitTorrent network, providing a pathway for participants to capture the value of shared bandwidth and storage. BitTorrent (BTT) allows content creators to connect with their audiences and earn and spend digital currency without intermediaries. A giant leap, BitTorrent clients can introduce blockchain to hundreds of millions of users globally and support a new generation of content creators through tools that enable direct distribution to others on the network. Users of torrent clients are familiar with challenges such as slow downloads and files becoming unavailable over time. By incentivizing user sharing, tokens will provide faster download speeds and longer cluster lifespans across the entire network.
BitTorrent (BTT) will first be implemented in µTorrent Classic, BitTorrent’s most popular application, for Windows-based clients. The µTorrent Classic client enabled with BitTorrent tokens will be 100% compatible with other clients supporting the BitTorrent protocol. Key features include: - Existing BitTorrent clients will implement a set of optional backward-compatible protocol extensions allowing them to bid and receive bids for their own bandwidth, working in tandem with cryptocurrency wallets and bidding engines. - The project plans to use BitTorrent (BTT) beyond current bandwidth sharing for more general storage, computing, and resource availability, such as distributed Virtual Private Networks (VPNs) or Content Delivery Networks (CDNs). - Tokens will initially be used by BitTorrent clients to bid and earn in exchange for upstream bandwidth allocation. They will later be used for features including purchasing content, tipping live streaming performers, and crowdfunding new works.

Project Origins

The project developed from three fundamental insights: 1. There is a massive, largely untapped opportunity to apply decentralized BitTorrent technology to many new use cases, and the market is now more willing than ever to do so. 2. Structural inefficiencies in the operation of the BitTorrent protocol today limit the lifespan of BitTorrent file-sharing swarms and, thus, the overall effectiveness of the protocol. 3. Most consumers, including BitTorrent users, are unwilling to pay online fees using fiat currency. As a result, people pay with "attention," leading directly to a web dominated by privacy-violating information monopolies. We are addressing these issues by improving and expanding BitTorrent through a project that combines the best of BitTorrent and blockchain technologies. We aim to transform BitTorrent into an infrastructure platform for decentralized networks, enabling application developers to directly reward users who provide underlying resources and allowing consumers to transact directly with publishers and developers using "found value" instead of fiat currency. To accelerate adoption, we will first address inefficiencies in current BitTorrent operations. This will generate strong appeal for the underlying technology and increase consumer awareness of the tokens existence, along with widespread familiarity with the user experience and economics of its use. Simultaneously, we will collaborate with third-party developers to develop and promote markets for various APIs and distributed infrastructure services. These APIs and markets build upon the fundamental networking and storage primitives in existing BitTorrent technology. We will also work with third-party publishers and application developers outside the existing BitTorrent ecosystem to co-develop services that consumers may use with their tokens. Over time, billions of end-users worldwide will have a powerful new way to extract small amounts of value from their own technological resources and numerous opportunities to use this value for services of their choice.

Project Protocol

The BitTorrent protocol enables client software endpoints ("clients") to collaborate in efficiently and reliably distributing large files to multiple clients. It does this by attempting to effectively use each clients upload and download bandwidth simultaneously, balancing peer-to-peer content transfers among cooperative clients within a "file-sharing swarm" and reducing reliance on any single point of weakness, such as a connection to a server. Understanding how the protocol works hinges on understanding how underlying economic incentives are implemented. The protocol is based on a system where files are cut into pieces that are traded among multiple devices all trying to download the same file simultaneously. Cryptographic hashes ("infohashes") of these pieces are used to verify that the shared pieces are indeed the requested ones. The system is essentially a barter economy in which each client collaborates by trading pieces of the file it is trying to download, with transmission bandwidth being the deciding factor in determining whom clients continue to trade with. Various mechanisms further reward the most productive trades and punish the least efficient by disconnecting or even banning trading parties. Once a client completes downloading a file, although it no longer has any need for uploads, if it continues uploading the file, it is considered a "seeder." Most clients default to "seeding" to other downloaders, but this behavior is entirely altruistic, and there are no economic penalties for closing the BitTorrent client and stopping seeding after the download is complete.

Project Ecosystem

The BitTorrent protocol has been executed many times, maintaining healthy competition between companies and more popular volunteer-maintained versions that adhere to different implementations. In addition to client software executing the BitTorrent protocol, there are infrastructure providers independently offering additional effective services (such as tracker servers that recommend endpoints and seed websites where users can index metadata of shared files and gain access to related seeds). This demonstrates how a range of collaborative distributed elements (clients) and semi-distributed elements (central servers, seed file sites) can successfully maintain long-lived and highly active ecosystems under high-attack scenarios. In integrating this project plan, we drew on many lessons learned from the BitTorrent ecosystem.

 

Related Links:
https://info.binancezh.com/en/currencies/bittorrent(btt)#detail1122
https://www.qukuaiwang.com.cn/news/15108.html