On 12 December 2021, the BitTorrent Chain (BTTC) mainnet went live. Therefore, BitTorrent Inc will deploy an ‘on-chain/off-chain exchange.’ The exchange will enable the transfer of tokens between a high-performance private ledger and the public TRON blockchain.” “Due to expected volume, direct use of the public TRON blockchain for all transactions is unfeasible. That gives uploaders the incentive to share files for longer and provide more bandwidth and storage to the network. Once their downloads are completed there is no incentive for them to continue uploading.īitTorrent Speed was introduced as an extension to the BitTorrent and µTorrent download clients, which enables downloaders to pay uploaders in BTT tokens for faster download speeds. The longer-term vision is to broaden the usage of the BitTorrent protocol far beyond current use cases by providing a distributed infrastructure platform to third-party app developers, creating the foundation for the decentralised web.”īTT acts as a transaction mechanism for the use of computing resources shared between BitTorrent clients, and provides liquidity for services in the ecosystem.īitTorrent has traditionally seen structural inefficiency, as it’s possible for users to complete file downloads before they have uploaded an equivalent volume. On the flip side, a move above the 23.6% retracement at $0.0105 will invalidate the bearish view.ĭon’t miss a beat! Follow us on Telegram and Twitter.“The initial entry point is to introduce token-based optimisations to the existing BitTorrent protocol, providing a way for the value of shared bandwidth to be captured by network participants. ![]() If it drops below this level, it will mean that bears are in control and that they will next target the 50% retracement at $0.0073. As such, the key level to watch is $0.0074, which is about 10% below the current level. Therefore, in my view, this distribution phase is not over and the price will remain under pressure. It has also declined below the 25-day and 15-day moving averages while the average true range (ATR) has dropped to the lowest level since April 4. The price has moved below the 38.2% Fibonacci retracement level. Remember, a week ago, I cautioned holders to be ready for a pullback because I predicted that this trend would soon happen. Recently, however, the price has dropped because of profit-taking. For starters, this is the biggest torrenting platform in the world that allows people to download and watch content mostly for free. On the four-hour chart, we see the remarkable story of BitTorrent coin, the native token for the BitTorrent platform. In recent memory, currencies like Dogecoin, Theta, and have struggled after going through a major rally. Why it matters: BitTorrent is not the only digital currency to go through this distribution phase after having a major rally. As the price declined, many buyers started to sell, in what is known as the distribution phase. This performance is mostly because of profit-taking considering that the price had risen by more than 4000% this year alone. ![]() What happened: The BTT price has dropped sharply recently even as other digital currencies like Bitcoin and Ethereum have rallied.
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