BitTorrent is a Web3 company. It is a San Francisco-based company responsible for developing the world's largest decentralized P2P communication protocol for distributing data and large files across the Internet.
The BitTorrent protocol is not only the largest peer-to-peer network, but it is also the basis for Web3, one of the largest global communities on the Internet. It is advancing its technology through blockchain technology. In addition, the company is developing the next generation of seeding products to dramatically simplify the experience and make it easier to stream and download seeds. It also continues to work on improving BitTorrent Speed, including giving users better control over how they use BTT to get faster downloads. Other projects that utilize the BitTorrent protocol and BTT are also under active development. For example, the BitTorrent File System (BTFS) will pave the way for a fully decentralized file storage system, enabling distributed file storage independent of centralized platforms. Powered by the BTT and TRON blockchains, "hosts" can rent out their hard drive space for BTT, while "tenants" can use BTT to purchase decentralized storage. The company is rapidly expanding the use cases for its decentralized protocol, changing the industry landscape by creating the next generation of live streaming technology. It will leverage the company's powerful global P2P network to connect content creators directly with viewers without the need for a centralized platform.
The founder of BitTorrent is Bram Cohen, an American computer programmer. He designed the BitTorrent protocol in April 2001 and on July 2, 2001, released the first usable version. His company, BitTorrent, Inc. (later renamed Rainberry, Inc.), released the BitTorrent v2 protocol specification on May 15, 2017.
Recently, BitTorrent Inc. has made some news. For example, to celebrate the holiday season, they are offering a 25% discount on Web and Classic Pro and Pro+VPN products. In addition, they upgraded their help center to provide a better user experience. During Black Friday, they also launched a promotion where all premium desktop products now include a second year free. Additionally, US users can now purchase BTT directly from Kraken, one of the world's oldest and largest digital exchanges. the Plisio cryptocurrency payment gateway also supports BitTorrent Token (BTT), making BTT acceptable for small companies, medium-sized businesses, and large enterprises alike.
BitTorrent's journey into 2024 marks significant strides in both decentralized file sharing and blockchain technology. Following its acquisition by the Tron Foundation in 2018, BitTorrent expanded its scope with the introduction of the BitTorrent Chain (BTTC), which connects multiple blockchain networks, including Tron, Ethereum, and Binance Smart Chain. BTTC facilitates cross-chain transfers, providing users with faster and more cost-efficient transactions while enhancing interoperability between different blockchain ecosystems. This network now processes up to 7,000 transactions per second, underscoring its scalability and utility in the blockchain space.
In 2024, BitTorrent continues to evolve its BitTorrent File System (BTFS), which supports decentralized file storage on a massive scale. Over eight million storage miners have been incentivized by BTT tokens, storing more than six pebibytes of data across the network. This expansion further solidifies BitTorrent's role in decentralized storage, ensuring that data is distributed without reliance on centralized platforms while promoting user participation through BTT rewards.
Above are only for introduction, not intended as investment advice.
