What is BitTorrent?
When you hear the name BitTorrent, you may recall them as a file sharing app from years ago that got into trouble because they were being used to illegally share large files, such as movie files and computer games. But BitTorrent never went away, they just ended up working to go mainstream and legitimate, which by and large they did. Today, BitTorrent still does what it has always done with file sharing, but they have now added their own cryptocurrency, BTT, to use on their network. But why would they do this?
Enter BitTorrent Speed
In 2019, BitTorrent Speed was introduced by BitTorrent, and the idea was to incentive people to seed their files on BitTorrent. Why would they do this? Obviously it is a way to get more people to use their file sharing service, and to help reduce dead files that no longer work. Also, when more people are using the service, it allows for faster downloads because there are more nodes to draw the files from/through. Seeders are rewarded with BTT, BitTorrent Tokens, and all of this is automated on their network.
To answer that first question of why would they do this, the answer is to remain the largest torrent service in the world. In 2019 they claimed to have over 100 million users all over the world, and BTT will only help them remain the largest. BitTorrent Tokens aren't just shiny little things, however, as they can be exchanged into currency in the real world, effectively paying people to keep their files on BitTorrent, and they get more BTT when their files are used. Alternatively, BTT can be used to speed up downloads if the user desires, can be used to pay for storage services as well as back-up services, and more.
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What are BitTorrent Frequenty Asked Questions?
Where does BitTorrent (BTT) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, BitTorrent currently ranks in position 83 out of the thousands of cryptocurrencies. It is also important to consider BitTorrent‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. BitTorrent has a market cap of $ 763,973,652, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 873,150,612,783, Litecoin at $ 11,499,341,497, Ethereum at $ 170,965,507,565, Tether at $ 36,309,551,516, and XRP at $ 21,075,191,061.
What is the price of BitTorrent (BTT) today (updated in realtime)?
The current price of BitTorrent is $ 0.001155 in USD. (The price in Euros is 0,000956 €; and the price in Bitcoin is Ƀ 0.00000000 BTC.)
What is BitTorrent‘s (BTT) market supply?
The total available supply of BitTorrent is 659,071,882,049 BTT. The total supply of BitTorrent is 990,000,000,000 BTT.
What is the 24 hour volume for BitTorrent (BTT)?
The 24 hour volume for BitTorrent is $ 212,806,973.
How has BitTorrent (BTT) performed recently?
BitTorrent‘s price has decreased in the last 24 hours by -7.91%. This compares with a seven day change of -12.59%. The trading volume over the last 24 hours was $ 212,806,973. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is BitTorrent (BTT) official website?
Links to BitTorrent‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has BitTorrent (BTT) performed well historically?
Here is a chart showing how BitTorrent has performed historically.
Where Can I Buy BitTorrent (BTT)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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