BitTorrent, a communication protocol for peer-to-peer technology sharing of files on the internet. Launched their own coin on the TRX network called Blocktrade Token. The news helped TRX and BTT respond positively amongst the bear market.
Positively responding over the past 4 days with their current 2.69% 24 hours increase.
TRX is the currency of TRON. TRON aims to decentralize the entertainment content sharing platform. This plan aims to leverage the blockchain and peer-to-peer network technology. The global entertainment industry is valued at $1 trillion.
TRX wants to help through the features of:
- Free and unctrolled data
- Content ecosystem where users can obtain digital assets from content spreading
- Personal ICO with ability to distribute digital assets
- Infrastructure to allow distributed digital assets exchange (such as games) and market forecasting.
“BitTorrent token is the first in a series of steps to support a decentralized internet”
Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release
“In one giant leap, we can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”
We are currently waiting for details to be revealed during the niTROn Summit that goes over the 17th and 18th of January.
What will this change
With the introduction of BTT, BitTorrent can potential utilise the blockchain to encourage users to share their bandwith. This is through the possibility of providing incentives to users through BTT to help distribute. This is also the possibility being able to publicly award and track people who utilise the network.
The question remains is whether users who use BitTorrent to pirate, will they be encouraged to move away from the software? The potential to track the individual on the blockchain, being a public blockchain will this cause issues.