Altcoin News: BitTorrent (BTT) ICO Today on Binance Launchpad

January 28th, 2019 by Marko Vidrih on ALTCOIN MAGAZINE

Netflix could soon get its first crypto competitor. BitTorrent, a decentralized file-sharing system, celebrates its ICO on Binance LaunchPad today. The release date for the new sharing system was set in the middle of this year.

BitTorrent biggest dApp of all blockchains?

The new software, BitTorrent Speed, allows users to host and share media files and other data in exchange for BTT tokens. BTT is a token on the Tron Blockchain. With the enormous size of the file-sharing network and with thirty million users a day — BitTorrent Speed ​​is likely to become by far the largest and most widely used dApp in a blockchain.

The system will be available by the summer of this year, according to an announcement at the beginning of niTRON conference in San Francisco.

With BitTorrent Speed, we want to strengthen the BitTorrent protocol and provide more features that inspire innovation in all industries

said Justin Sun, who became CEO of BitTorrent after being acquired by the Tron Foundation.

More than 100 million users will soon have the opportunity to be part of a limitless Internet that supports privacy and personal connectivity around the world, he added.

BitTorrent uploaders are motivated with BTT tokens

Torrent was considered a model for successful decentralization, and Satoshi Nakamoto compared it to Bitcoin when he explained his new creation. The distributed nature of the content-sharing network makes it almost impossible to censor or remove files, which adds to the chagrin of the entertainment industry.

But the system was not perfect, and the uploaders had little reason to host files except for benevolent goodness. Leechers users who download but do not share files have no significant incentives to behave differently.

That’s likely to change with the new additions to the μTorrent Classic app, says BitTorrent. Instead of hosting files for free, the uploaders are paid in BitTorrent tokens, providing financial incentives for long-term use. This, in turn, should improve the download speed and availability.

The new service is currently under test on the μTorrent Classic Windows client and will be updated shortly for other clients, says Justin Knoll, head of BitTorrent Speed ​​Development.

When users get access to BitTorrent Speed, they’ll love the improvements we’ve made to the client they know and love today.

BitTorrent ICO Information and Assessment

The BitTorrent ICO on the Binance LaunchPad will take place today. It can be paid with TRX or BNB. The sale will continue until the hard cap reaches $7.2 million or until February 3rd, 2019.

Here you should look exactly the token distribution before investing. Over 40% of the tokens go to the Tron Foundation, the BitTorrent team, and partners. Seed, Private and Public Sale together only reach 17%. To the ICO boom, such token metrics would have thrown an extremely bad light on the project. The share of the team is simply disproportionate.

[Image: Binance LaunchPad]

Many speculate on a quick flip and barely see the project in the long run. It remains to be seen how the ICO will run and if the hard cap can even be reached. The good news is that it will be relatively quick to get a listing on Binance.

Author: Marko Vidrih