BitTorrent
Crypto Overview
Purpose and Utility
BitTorrent (BTTOLD) was created as a TRC-10 utility token on the TRON blockchain, designed to incentivize participants in the BitTorrent peer-to-peer file-sharing network. The token enables users to pay for faster downloads, incentivize seeders, and participate in the BitTorrent ecosystem.
Business Model Analysis
The business model involves facilitating decentralized file sharing and content distribution. Users can earn BTTOLD by sharing bandwidth and storage resources, while others can spend tokens to access faster download speeds. This model is transparent and doesn't inherently involve any prohibited activities.
Real-World Adoption
The BitTorrent network has significant adoption with hundreds of millions of users worldwide. However, it's worth noting that BTTOLD has been largely superseded by BTT (the new token) following a redenomination in December 2021. While the old token still exists, most activity has shifted to the new BTT.
Platform Development
The development team has maintained regular updates to the BitTorrent protocol and its associated products. The ecosystem includes various products like BitTorrent Speed, BitTorrent File System (BTFS), and DLive streaming platform.
Token Distribution and Governance
The initial token distribution allocated portions to the TRON Foundation, BitTorrent Foundation, and ecosystem partners. The project maintains transparency regarding token allocation and uses.
Crypto Impact
To assign a comfort level investing in BitTorrent from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BitTorrent.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.