“#BTTC Mainnet and #BTT Redenomination Plan will be launched on Dec 12, 2021!” said the company.īitTorrent is a peer-to-peer file-sharing protocol that’s existed since 2001. Mainnet Launch + RedenominationīitTorrent announced the upcoming BitTorrent Chain (BTTC) launch through a tweet earlier today. Meanwhile, old BTT tokens on TRON will be redenominated into smaller units, while retaining the same market cap.
With that said, the ecosystem has asked wallets, exchanges, partners, and developers to swap to the BTTC token from BTT within 30 days of the mainnet launch which has happened on Dec 12, 2021.BitTorrent Token (BTT) – a TRC-10 utility token – will see its main net launched on December 12th, according to recent word from the organization. Using the token redenomination, the BitTorrent ecosystem will scale up the existing 990 billion tokens to 990 trillion making it more accommodative and fixing an unprecedented rise in the prices.
The ecosystem has taken the approach to accommodate the increasing influx of the clients in their ecosystem who would pitch into the ecosystem to cash in on new use cases like staking, farming, and liquidity mining. Meaning, for 1 BTT token, a total of 1,000 BTTC tokens will be minted. BitTorrent has been redenominating with a 1:1000 ratio. In doing so, a new value establishes for the currency or token. While redenominating a currency or a token, the ecosystem/government recalibrates the currency or token and breaks the same into smaller fragments. What are Counter Measures adopted by the Ecosystem?īitTorrent will adopt the redenomination measures to eliminate the pullback from the investors. Hence, it kind of justifies why the token has lost almost all its value on some aggregators. On the contrary, these investors had made up their minds to book profits and close their positions.
#Bittorrent crypto upgrade
As a result, despite the protocol upgrade happening recently, there were no positive sentiments among investors who hold this token. Despite such a sharp rise, investors do not have a very positive outlook for the token in the near future due to its limited use-cases.Īpart from providing ways where users can store the file and take profits or service charges whenever someone else uses the file, Bittorrent fails to provide anything new. Much of the events have been attributable to almost unprecedented gains in the last few months. However, lately, the price of the token has been completely written off on certain exchanges. Despite such a groundbreaking or innovative use-case, why the token has been biting the dust lately.īTT is the native token of the BitTorrent ecosystem. A nice use-case since everyone wants to skip the hurdle of paying extravagantly to the OTT platforms or online libraries.
Hence the Tron foundation acquired the BitTorrent project and launched BTT token which would make downloading faster and ensure files stay on the server for a long time due to the incentives attached. So the need arose where everything can be done in a truly decentralized manner and downloading and file-sharing should reach the next level in terms of providing a gratifying experience to the users. However, over time, most of the files were either scraped away or they failed to stay on the server for long.
#Bittorrent crypto software
Let’s deep dive to know about BitTorrent, an unlucky mention in this category.īitTorrent project is an extended version of the erstwhile BitTorrent software that allowed downloading files on a peer-to-peer basis from shared servers. However, some coins have fallen relatively higher than BTC like BitTorrent and that becomes a problem, and the rhetoric that cryptos need regulation may well pop out all over again. As a result, the selling pressure seems to be at its pinnacle and traders want to close their position with whatever they could manage. Most of the events have been influenced by the dollar strengthening against a basket of other currencies, assets, and even stocks. Hence, justifying why we are seeing a sharp fall in the crypto market. Why Some Cryptos are Losing Most of Their Value?īitcoin creates a domino effect for other cryptos so once Bitcoin falls other cryptocurrencies follow the trail. On top of this, we shall also look at the countermeasures that the ecosystem has adopted to mitigate the loss.
#Bittorrent crypto torrent
Is it the domino effect of the crypto market to blame or have there been other factors involved? In this article, we will look at the Bit Torrent project and why there was such a sharp fall in its prices.
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