Torrent client BitTorrent has declared that its native BitTorrent Token (BTT), based on Tron protocol, is now backed by CoinPayments’ crypto payment gateway.
As stated, BitTorrent began its BTT token this January its first full-fledged move to start to tokenize its content sharing ecosystem, around six months after the firm acquired by decentralized internet startup Tron.
As per today’s press release, BitTorrent has already been partnering with CoinPayments on supporting Tron (TRX), Binance Coin (BNB) and Bitcoin (BTC) payments for premium services. With the addition of BTT support, customers can now use the token to pay for µTorrent and BitTorrent Pro subscriptions, which allow file conversion, HD quality streaming, and malware protection.
Mr. Justin Sun, the founder of Tron and CEO of BitTorrent, has explained the roadmap for tokenization of the BitTorrent ecosystem, asserting that the collaboration with CoinPayments is an attempt to “make the BitTorrent (BTT) liquid in the online marketplace before the token is completely integrated into our mobile and desktop products.”
The BTT-based blockchain application ‘BitTorrent Speed’ will be rolled out as part of BitTorrent’s Windows-based µTorrent Classic client. As per the BitTorrent website, the application will enable users to exchange BTT for seeding and bandwidth to support faster download times.
BitTorrent first created in 2004 claims to have over 100 million users in its current decentralized p2p network.
As reported earlier, the roadmap for Tron and BitTorrent’s mutual integration has been named “Project Atlas,” which intends to form a decentralized content distribution platform using digital currency.