BitTorrent [New]

Halal Rating :
Comfortable
Last Price $0.0000011 Last updated:
Rank 98
1D Change -2.13 %
Market Cap $1.08b
Circulating supply 968,246,428,571,000
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Platform
  • Distributed Computing
  • Filesharing
  • Interoperability
  • Staking
  • Ethereum Ecosystem
  • TRON Ecosystem
  • Storage
  • Binance Launchpad
  • Binance Labs Portfolio
  • Web3
  • BNB Chain Ecosystem
  • Alleged SEC Securities
  • DePIN
  • Tron20 Ecosystem

Purpose and Utility

BitTorrent Token (BTT) is the native cryptocurrency of the BitTorrent Chain (BTTC), designed to create a decentralized content and file-sharing ecosystem. The token serves as a means to incentivize users who share network resources and participate in file sharing on the BitTorrent network.

Business Model Assessment

The business model revolves around creating a decentralized economy for digital content sharing and storage. Users can earn BTT by sharing bandwidth and storage space, while others can spend BTT to access faster downloads and content delivery services. This model aligns with halal principles as it involves genuine exchange of services and utilities.

Real-World Adoption

BitTorrent has a significant user base from its legacy file-sharing protocol, with over 100 million monthly active users reported. The BTT token has been integrated into various BitTorrent products including BitTorrent Speed, BitTorrent File System, and DLive streaming platform.

Platform Development

The project maintains active development with regular updates to its ecosystem. The BitTorrent Chain provides a foundation for DeFi and dApp development, showing ongoing technical progress and utility expansion.

Token Distribution

The token distribution includes allocations for ecosystem development, team members, and the BitTorrent Foundation. While there is significant concentration among early stakeholders, this is typical for blockchain projects and doesn't inherently indicate misalignment with Islamic principles.

Crypto Impact

To assign a comfort level investing in BitTorrent [New] 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 [New].

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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