BitTorrent Overview
BitTorrent was launched in 2001 as file-sharing software and registered as BitTorrent Inc. in 2004. It has been in the software market without entering into blockchain technology for a long time.
BitTorrent suffered from heavy traffic, technical issues, and unlicensed issues for a long time in the initial stages.
Justin Sun, the founder of TRON, acquired BitTorrent in 2018. TRON’s blockchain has many similarities with that of the Ethereum blockchain, and it can accommodate decentralized applications.
Afterward, BitTorrent Inc. established new BitTorrent clients and also incorporated a cryptocurrency BitTorrent token (BTT). When it became blockchain-enabled, it integrated licensed works and verifiable dealings.
What is BitTorrent, and How does it Work?
BitTorrent is a decentralized software that facilitates file transferring over peer-to-peer networks. BitTorrent protocol permits users to download parts of a file simultaneously from multiple user networks with the required file in their system.
The process will begin with a data access request from the party in need asking for the providers’ files. The providers who host the file will split into several pieces, and when demands arise, file providers will acknowledge the request and supply the file for downloading. So, files will be downloaded from multiple computers to the invited system.
The downloading file is called ‘Torrent.’ Uploading and file-sharing pieces are called ‘Seeding.’ The group of people who supply the file has anointed a swarm, and the download speed is directly proportional to the number of peers in the swarm.
BTT is the utility token of the BitTorrent platform, and it is a TRC-10 token on the TRON blockchain. File requestors can offer BTT as a reward for providing files from local resources. When the requestor bid matches the service provider’s demand, it will form a payment channel for micropayments.
When the service requirement is finalized, micropayments are bundled up, settled, and all BTT transactions are recorded on the TRON blockchain.
Uploading and downloading are backed by BitTorrent Windows, Classic, and Android. Moreover, they have a DLive protocol and a DLive application system. DLive is a peer-to-peer broadcasting facility that connects the host directly to their audience. It can be easily installed, and it is a user-friendly system for secured live broadcasting.
Who Created BitTorrent?
BitTorrent was initially developed by an entrepreneur and developer named Bram Cohen. Cohen’s ultimate aim was to usurp the entertainment industry with state-of-the-art file-sharing systems and techniques. The platform has gone through multiple legal battles to maintain a strict copyright policy in the BitTorrent file system. Justin Sun is the person behind the current BitTorrent protocol and the technologies.
Use Cases of BTT Token
BitTorrent works on a token-based economy, and it backs networking, bandwidth, storage, and all other services. If users are willing to pay BTT tokens, they can enjoy quicker downloading services and higher bandwidth. So BitTorrent ecosystem services incorporate sender/receiver models powered by BTT. Below are some of the BitTorrent services powered by BTT tokens.
BitTorrent speed: As the name suggests, the project BitTorrent stands to provide faster download speeds. It provides the required bandwidth to boost downloading speed using BTT incentivization. BitTorrent speed automatically bids in BTT to other users for speedier downloads. It has a dashboard and a wallet, so when the downloading ends, BTT tokens will be automatically credited to the wallet of the data provider.
The BitTorrent file system is a scalable decentralized storage system for decentralized applications. It has five components: TRON network, BTFS network, a wide array of client products, TRONGrid services that connect ecosystem components, and native token BTT. BTFS offers censorship proof, cost-effective choices for centralized cloud storage, and storage in the network can be purchased using BTT tokens.
BTT has three torrent downloaders that enable BTT token payments for faster services. BitTorrent Web, BitTorrent Classic and BitTorrent Android.
BitTorrent web is an online torrent downloader and player for Windows and Mac. Users can employ safe scanners that quickly find demanded files to download. It is available in 15 languages, and it authorizes users to play files and magnetic links during download.
BitTorrent Classic and BitTorrent Android are also downloaders and players. Classic is a lighter version with additional features only for Windows. In comparison, Android is a mobile application with inbuilt media players.
Primary use cases of BTT tokens in the BitTorrent Chain ecosystem include:
- Staking on BTTC to gain reward.
- Paying for gas fees as a native token on BTTC.
- Participate in the governance of the BTTC community.
- Becoming a validator on BTTC.
Essentially, BTT crypto is the fuel of the BitTorrent protocol.
The Future of BitTorrent
BitTorrent claims that it has 2 billion users and 200 million BTT wallets existing in the BitTorrent ecosystem. The company currently has products under two brands: BitTorrent (the most prominent distributed network) and uTorrent (which offers file downloading facilities).
Both have remained swift and easy downloading tools for around twenty years, even before stepping into blockchain technology.
After stepping into blockchain technology and integrating with BTT, the protocol offered many more edges to the user and file provider (seeder). The roadmap shows BitTorrent’s plans to incorporate more blockchains and launch a multichain feature for BTFS.
Additionally, they intend to launch a governance mechanism in 2022. Therefore, the fundamentals of the BitTorrent network and the development roadmap are strong enough. The team believes that current development plans and security protection can contribute to the user base extension, and BitTorrent will have more traffic in the future.
BitTorrent: Pros & Cons
The file-sharing protocol of BitTorrent allows users to download data without third-party intervention. The peer-to-peer data sharing medium enables users to download games, music, video, applications, and images using BitTorrent in the lowest time. Users also become a part of the swarm when uploading and downloading data.
PROS:
- As mentioned above, the peer-to-peer mechanism eliminates network delays and security issues.
- If one file source is not working, users can rely on another source without waiting long.
- There are plenty of torrent downloadable sources widely available in the network.
- The token incentivization mechanism motivates both users and file providers to participate in the network.
- If any technical interruptions have appeared between downloads, the download will pause and restart from the same point again.
- BitTorrent systems will manage the speed of download on slow internet connections also.
CONS:
- Before downloading them, there is no way to analyze the quality of downloaded files, and the user needs to depend on Google reviews or check once it is downloaded.
- Peer-to-peer data sharing is blocked in certain countries. Downloading parties should make sure about such legal issues before installing BitTorrent.
- During the download and upload, the user exposes their IP address to the public. So it is necessary to take care of the security and add a VPN to protect your system.
Latest News on BitTorrent
The latest news from the BitTorrent community is the launch of the world’s first cross-chain interoperability protocol called the BitTorrent chain (BTTC). It leverages the sidechains for scaling smart contracts and works on Proof of Stake consensus. The ultimate dream is to provide interoperability between Ethereum, Binance Smart Chain, and TRON.
BTTC launched in Dec 2021 with BTT redenomination. Old BTT tokens will be redenominated and swapped at a 1:1000 ratio for new BTT. Total supply of tokens has increased from 990,000,000,000 to 990,000,000,000,000.
An upgrade of the BTT file system went live in January to support cross-chain connectivity and multichannel payments.
Last year, BitTorrent partnered with PointVille, an AR and consumer-rewarding mobile app, to provide BitTorrent users with BitTorrent-themed AR points for a limited period.
Price History of BitTorrent
The BitTorrent protocol has two tokens now; the Original BitTorrent coin went for public sale in 2019 with an ICO price of $0.00012. To rectify the issues of low transaction speed, low scalability, and throughput issues, the BitTorrent Chain is introduced with advanced DeFi applications.
As a result, old BTT coins are now known as BTTOLD (TRC-10) tokens, and a new token after redenomination is referred to as BTT (TRC-20). BTTOLD tokens can be swapped to BTT on the listed exchange or the BTTC website.
BTT was launched at around $0.000002759, and the current price is $0.000001469. After its launch, the BTT price fell on the following day itself, and it traded in the range of $0.000002438 and $0.000002759 for a week. The price increased for 2 days, and it again fell to $0.000001919 on Jan 25, 2022.
The BTT price started trading sideways after that but lost momentum, and BTT plummeted to $0.000001718 after a month. On Mar 01, 2022, the price faced resistance at the $0.000002006 level, and then it started a downtrend. On Mar 28, the price broke the resistance of $0.000002147 and started an uptrend. However, the price could not sustain the resistance of $0.000002303, and on the same day, it went down to the $0.000002108 level.
BitTorrent’s price has gone through a difficult period since its launch. No BTT price rise could break the psychological resistance points; hence, the BTT traded in the range of $0.000003035 to $0.000001400.
BTT has been trading in red for most of its life. Based on the trade history after the redenomination, BTT’s all-time high was $0.000003054 on Jan 18, 2021, and the all-time low was $0.000001401 on May 10, 2022.
Technical Analysis of BitTorrent
The cryptocurrency market remains volatile. Most digital coin prices plunged amid the war scenarios between Ukraine and Russia. Cryptocurrency markets may take some time to recover from the current loss. Technical analysis is based on the new redenominated BTT price levels.
BTT current price is trading at $0.00000147 with a 24-hour trading volume of $148,127,808. The circulating supply is 929,275,160,714,000 BTT, and the total supply is 990,000,000,000,000. Market cap is standing at $1,369,521,925 which is 7.24% lesser compared to yesterday.
BTT has been trading in the market for the last few months with its new value. As a result, the token failed to find a clear direction. On charts, BTT has been struggling to find support against strong bear momentum after a significant fall. It initiated a downward journey right after rejection at $0.00000275.
A hammer was visible on the chart after the downward move, which initiated a slight upward action in BTT. The price is also supported by volume. On the daily chart, RSI is at 18, which indicates a bearish trend. The MACD Line is just above the Signal Line, which indicates a moderate positive momentum. However, since both the lines are close, the trend may change anytime soon.
Support and resistance levels are not very prominent in the token. Still, based on the current levels, immediate resistance is visible at $0.002231. If BitTorrent can break this level, it faces the subsequent rejection at $0.004524. Important resistance levels are noted at $0.006324 and $0.007412, the latest swing high. BTT has to climb these levels for a strong up move.
On the flip side, the support zone is $0.000001340 and $0.000001225. The previous swing low marked the lowest price for BTT, and traders can sell BitTorrent if it breaks this all-time low level.
BitTorrent technical analysis shows that bears have a strong hand in BTT price action. The BTT crypto redenomination and swap confusion have led to this long-term downfall. BTT now may endeavour to catch crypto investors’ attention. However, it will take some time for a clear trend indication and position itself as strong competition in the market.
Will BitTorrent Prices Go Up?
Based on the market capitalization ranking of Coin Market Cap, BTT is ranked 54. But BTT price analysis shows it stumbles for a price increase and bullish trend. BTT price prediction expects that BTT prices will unhurriedly go up in the future.
Yearly BitTorrent Price Prediction
| Year | Minimum Price | Maximum Price |
| 2022 | $0.00000115 | $0.00000269 |
| 2023 | $0.00000298 | $0.00000357 |
| 2024 | $0.00000301 | $0.00000418 |
| 2025 | $0.00000373 | $0.00000473 |
| 2026 | $0.00000331 | $0.00000423 |
| 2027 | $0.00000421 | $0.00000675 |
| 2028 | $0.00000590 | $0.00000717 |
| 2029 | $0.00000776 | $0.00000848 |
| 2030 | $0.00000875 | $0.00000926 |
BitTorrent Price Prediction: 2022-2030
Historical data shows BTT cryptocurrency has been unable to give profitable returns to investors so far. Though the BitTorrent project performs well in the industry, it has not reflected the same in the token value. Let us have a look at future price predictions. But make sure you carry out your own research and do not blindly rely on any predictions.
BitTorrent Price Prediction 2022
BitTorrent (BTT) price prediction 2022 anticipates the coin may touch $0.00000251 in the first quarter but later may fall to $0.00000115. The cryptocurrency market may slowly recover from the current plunge, and BTT will advance to $0.00000288 within the first half. A bearish market is anticipated for the second half of the year, and BTT may handle $0.00000269 by the third quarter. BTT is predicted to close the year at $0.00000242.
BitTorrent Price Prediction 2023
The BitTorrent price forecast expects the price to open at $0.00000323, slightly higher than the previous year’s closing prediction. It may sink towards $0.00000298 within the first quarter and rush to $0.00000321 in the initial half. The second half may open at $0.00000357 and may extend to $0.0000038 in the third quarter. BTT tokens may hurt back to $0.00000303 by the year-end.
BitTorrent Price Prediction 2024
BitTorrent (BTT) price prediction suggests the price may start at $0.0000030139 and may grow to $0.0000040186 by March 2024. A breakdown is predicted, and the price may be $0.00000315558 in the first half. BTT may slowly catch $0.00000337 in the third quarter and surge to $0.00000418. A bullish market is expected for the year 2024.
BitTorrent Price Prediction 2025
BitTorrent coin price prediction envisions a beginning at $0.00000473. Bears may drag the token value to $0.00000375 in the first quarter. BTT price is predicted to be consolidating from $0.000003739 to $0.00000378035 for two months. BTT price prediction shows, hereafter, bulls may drive BTT crypto space towards $0.00000385 in the third quarter and $0.00000446 by the year-end.
BitTorrent Price Prediction 2026
BitTorrent token price prediction anticipates an opening at $0.00000474 and a surge to $0.000423 in the first quarter. Price movement seems to be the same as in previous years, and the BitTorrent coin may slip to $0.00000344 in the second half. From the third quarter to the fourth quarter, BTT anticipates trading at $0.00000344 to $0.00000331 throughout. BTT may close at $0.00000335 by the year-end.
BitTorrent Price Prediction 2027
BitTorrent price predictions indicate the price may start at $0.00000557, much higher than the previous close. But it may brutally plunge to $0.00000421 within the first quarter. The BTT forecast display BTT may again increase to $0.00000525. BitTorrent is showing a highly bullish price prediction in the second half. It may soar to $0.00000675 in the second quarter and close the year at $0.00000575.
BitTorrent Price Prediction 2028
BitTorrent forecast suggests the price may begin at $0.000000666. It may rush to $0.00000717 in the first quarter. Bears may pull back BTT to $0.00000677 within the first half. The second half is predicted to be volatile, and BTT may decline to $0.00000590 in the third quarter and close the year at $0.00000660.
BitTorrent Price Prediction 2029
BTT price predictions anticipate price may start at $0.00000848. But it may fail to sustain the momentum and may descend to $0.00000786 in the first quarter. Same as the previous year, BTT may be volatile. It may soar to $0.00000837 in the first half, drop to $0.00000782, and further plummet to $0.00000776.
BitTorrent Price Prediction 2030
BitTorrent cryptocurrency expects a positive trend in 2030. It may open at $0.00000875 and slowly move to $0.00000898 in the first quarter. Bulls may takeover, and BitTorrent (BTT) price may rise to $0.00000926 in the second quarter. Third-quarter expects a slight price drop to $0.00000917, and BTT may wind up 2030 at $0.00000878.
FAQs
Is BitTorrent a good investment?
The future price prognosis indicates BTT is a good investment. But it cannot be considered a highly profitable investment in the long term. Prices are slowly moving up, and however, the crypto market experiences colossal volatility and sudden trend reversals. Hence there is no universal consensus that the BTT coin value will trade as expected and be a profitable investment. So your own research and financial investment advice are required.
How to buy BitTorrent?
Step 1: Buyers need to select any cryptocurrency exchange of their choice where BTT is listed to buy BTT coins.
Step 2: Register and complete the KYC process associated with the cryptocurrency exchange and wait for confirmation.
Step 3: After the account activation, add funds to the account or connect a cryptocurrency wallet (not necessary). Funds can be added either through internet banking or debit/credit card.
Step 4: Search for BTT in the search bar and click on the BTT symbol. Enter the amount or number of tokens required and tap on the buy button. Now BTT crypto will be added to your portfolio at the market price.
Where to buy BTT?
BTT is listed on major cryptocurrency exchanges such as Poloniex, Bittrex, Huobi Global, Upbit, Binance, and many more.
Can BTT reach $1?
BitTorrent (BTT) price predictions show BTT is not forecasted to hit the $1 mark anytime soon.
How much will BitTorrent be worth in 2025?
BTT is predicted to catch an average price of $0.00000446. The expected maximum price for 2025 is $0.00000512.
Step 2: Register and complete the KYC process associated with the cryptocurrency exchange and wait for confirmation.
Step 3: After the account activation, add funds to the account or connect a cryptocurrency wallet (not necessary). Funds can be added either through internet banking or debit/credit card.
Step 4: Search for BTT in the search bar and click on the BTT symbol. Enter the amount or number of tokens required and tap on the buy button. Now BTT crypto will be added to your portfolio at the market price." } },{ "@type": "Question", "name": "Where to buy BTT?", "acceptedAnswer": { "@type": "Answer", "text": "BTT is listed on major cryptocurrency exchanges such as Poloniex, Bittrex, Huobi Global, Upbit, Binance, and many more." } },{ "@type": "Question", "name": "Can BTT reach $1?", "acceptedAnswer": { "@type": "Answer", "text": "BitTorrent (BTT) price predictions show BTT is not forecasted to hit the $1 mark anytime soon." } },{ "@type": "Question", "name": "How much will BitTorrent be worth in 2025?", "acceptedAnswer": { "@type": "Answer", "text": "BTT is predicted to catch an average price of $0.00000446. The expected maximum price for 2025 is $0.00000512." } }] }