BitTorrent announces BitTorrent Speed, a BTT Token enabled application

BitTorrent recently announced that it is launching its BTT crypto token enabled application BitTorrent Speed in the second quarter of 2019. The announcement was made at niTROn blockchain conference in San Francisco.

The BitTorrent Speed is touted as the world's largest blockchain application which will be used for speedy uploading and downloading of files.

On 5th January 2019, BitTorrent unveiled TRC-10 compatible BitTorrent (BTT) Crypto Token for a Decentralized Internet.

BitTorrent Speed will allow the BitTorrent protocol clients to receive BTT tokens as a reward for "seeding" files for longer periods. The announcement claimed that download speeds on peer-to-peer networks can get faster and become more readily available when clients are incentivized with BTT tokens.

Executive Opinion

Founder of TRON and CEO of BitTorrent, Justin Sun, said, "With BitTorrent Speed, we aim to strengthen the BitTorrent protocol and then deliver more features that inspire innovation across industries. More than 100 million users soon will have the opportunity to be part of a boundary-free internet that supports personal privacy and connection around the world."

Head of BitTorrent Speed development said, "BitTorrent Speed is undergoing extensive testing on the network to make it as seamless and reliable to users as the current client. When users gain access to BitTorrent Speed, they will be blown away by the improvements we've made to the client they know and love today,"

Availability of BitTorrent Speed

BitTorrent Speed will be available on the popular µTorrent Classic Windows client in summer 2019 and on other BitTorrent clients by late 2019.

In 2018, TRON acquired BitTorrent to enhance and add virtual currency functionalities to the platform. Considering the popularity torrent protocols and large size of decentralized P2P torrent networks which drives 22% of upstream and 3% of downstream traffic globally, the price of BTT may skyrocket in future if most of the 100 million BitTorrent users in 138 countries agree to opt for BTT token.