What is Bittorrent?
The Tor network is a web anonymization network originally developed by the US Naval Research Laboratory to combat the public release of classified information. The core idea behind the system is simple. Internet service providers block all traffic going to and from one particular IP address to evade censorship. The Tor network acts as a middleman to route around those blockades by routing traffic through a large network of alternative IP addresses. This allows people to bypass internet censorship, as well as aid the facilitation of illegal activities such as copyright infringement, drug sales, hacking, and more. BitTorrent is the official BitTorrent client of the Tor network. It provides end-to-end encrypted connections, secure downloads, and streaming video support.
How does Bittorrent work?
BitTorrent (BTT) operates as a “token system” and aims to be a bridge to other decentralized protocols and applications through the development of an innovative, decentralized ecosystem that is dedicated to preserving digital rights to the benefit of users and developers. BitTorrent’s decentralized platform is powered by BTT tokens. BitTorrent (BTT) is a non-diversified cryptocurrency that is pegged to the US dollar. Each BTT is tied to a blockchain-supported value based on the activity on the BitTorrent network. The BitTorrent network provides an open, decentralized and secure peer-to-peer file sharing network, with its own native coin, BTT. BitTorrent (BTT) has been used by more than 30 million active users worldwide, with 60% of its active users living outside the US and EU.
The future of Bittorrent
As the BTT utility token, this blockchain is designed to be a global digital currency that will interact with the larger ecosystem of decentralized protocols and applications that exist on the Ethereum blockchain. Most notable are decentralized file systems that are able to grow with the network as new participants join the network and download and download more files. BitTorrent and other decentralized decentralized file systems provide the content owner and the user with the best of both worlds: there is no middleman or centralized entity that gains from the upload or download of files on a peer-to-peer network. Bittorrent creator Bram Cohen told ETHNews that BTT has been designed to be the decentralised go-between for torrents and files.
Conclusion
The popularity of torrenting is growing at a rapid pace. It has the potential to become the most popular file sharing network soon. Additionally, if supported properly, bitcoin, the main cryptocurrency, could disrupt the traditional music and movies industries with P2P monetization solutions. Bittorrent technology could also help several other industries around the world such as online gambling, e-sports, peer-to-peer sharing, and more.