As the crypto trading community continues to be wowed by the massive gains in the markets being showcased by BTT token, BitTorrent Inc. has announced via twitter that the use-case of the token could be live as early as the second quarter of this year. The tweet making the announcement also mentioned that it will happen through an application known as BitTorrent Speed. The tweet can be found below.
Have you heard about #BitTorrentSpeed? It’s a game-changing #blockchain based application expected in Q2 of 2019 that will reward BitTorrent users with $BTT in exchange for seeding and bandwidth, increasing the speed of torrent downloads and creating a healthier ecosystem. pic.twitter.com/gmJhyYrEdU
— BitTorrent Inc. (@BitTorrent) February 1, 2019
What is BitTorrent Speed?
As explained in the tweet, BitTorrent Speed will provide an avenue to reward users of the peer-to-peer file sharing service with BTT in exchange for seeding and bandwidth. Such incentives will enable faster downloads and pivot its 100+ Million users into creating the first version of a tokenized decentralized internet. BTT will also be used to support content creators all around the world from their torrent client.
The long term vision of BTT as explained on the project’s whitepaper is to go beyond bandwidth and storage in its use. BTT will eventually provide a distributed infrastructure platform to third party app developers and enable customers to get some value out of allowing others to make use of their spare resources. The end result will be a border-less economy with computing resources as the commodity being exchanged for BTT tokens.
Effect on the Value of Both TRX and BTT
Checking coinmarketcap.com, we find that TRX has once again edged out Stellar (XLM) from the number 8 spot. With time, Tron might find its self in the top 5. Approximately $304 Million in market cap separate TRX from Bitcoin Cash (BCH). TRX need only be valued at $0.03147 to achieve the goal of being a top 5 coin. The current value of TRX is $0.0269.
In the case of BTT, the token has yet to have a market cap value assigned by Coinmarketcap.com. This is due to the fact that the tracking website is yet to have a clear figure for the circulating supply of the token. However, BTT is currently up 62.48% in the last 24 hours after peaking at $0.001212 a few hours ago. Investors that took part in the token sale have seen their profits increase by 910% in a short time period of less than a week.
With the implementation of BitTorrent Speed in the next quarter, the value of BTT might continue to showcase impressive gains in the crypto markets.
What are your thoughts on the BitTorrent Speed application that aims to providing the first use-case of BTT by rewarding seeding and bandwidth on the peer-to-peer file sharing network? Will it have a positive effect on the value of BTT and TRX? Please let us know in the comment section below.
[Image courtesy of BitTorrent.com/speed]
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.