Earlier this month, the team at BitTorrent announced that the largest blockchain application that utilizes BTT will be launched by the second quarter of this year. The DApp, simply known as ‘BitTorrent Speed’, will provided an avenue to reward users of the peer-to-per file sharing service with BTT in exchange for seeding and bandwidth.
What Exactly is Seeding?
Seeding is where you leave your BitTorrent client open after you’ve finished your download to help distribute it. Bandwidth is the amount of data you allow to be transmitted in and out of your computing machine.
Early Access to BitTorrent Speed Now Available
In a tweet earlier today the CEO of BitTorrent, Justin Sun, announced that early access is now open for users who are willing to test the BitTorrent Speed decentralized application before its official release in the second quarter of this year. His tweet went on to explain that all a user needs to do, is visit the BitTorrent Speed website and sign up for a chance to experience the initial stages of BTT’s mass adoption. His full tweet is as follows.
More on BitTorrent Speed
As earlier mentioned, BitTorrent Speed will become the largest decentralized application that will pivot the over 100 million users of the peer-to-peer file sharing platform. BitTorrent speed will be the final piece of the jigsaw puzzle that will provide an avenue to reward users with BTT in exchange for seeding and bandwidth.
BTT will also be used to support content creators all around the world from their torrent client. The long term vision of BTT is to eventually provide a distributed infrastructure platform to third party app developers. Users will contribute their spare resources and get value out of it. This will in turn create a border-less economy with computer resources as the commodity in exchange for BTT tokens.
How BitTorrent Speed Will Work
According to the BitTorrent Speed website, the DApp will work through three easy steps.
By default, the uTorrent client will update automatically to include a BitTorrent Speed link in the left-hand navigation menu. Open BitTorrent Speed to check your balance and activity at any time.
BitTorrent Speed will automatically bid BitTorrent (BTT) to other users for faster speeds. The bidding user’s downloading experience will stay the same, except it’s even faster!
When a file finishes downloading, let it seed to earn BitTorrent (BTT). The longer you seed, the more tokens you may be able to earn. Just leave your files seeding in your client and you may automatically earn tokens.
What are your thoughts on the early access available for users to test drive BitTorrent Speed? Is this move an indicator that it could be released for public use before Q2? Please let us know in the comment section below.
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