The revolution of Blockchain assured investors of cryptocurrencies of privacy and confidentiality. They believed this ecosystem was sturdy enough to protect their transactions keeping them safe. In 2018, the Tron foundation had acquired the platform. However, one can trace all kinds of digital traffic even in the cryptocurrencies like Bitcoin through a blockchain to ascertain the wallet address of the transferor and transferee. Before we start with complete BitTorrent price prediction, check the coin overview as following
(1) BitTorrent: Footprints on TechWeb
Navigation on the history of this highly reliable cryptocurrency can be traced back to the appearance of a cryptographic protocol, even though in the beginning it was used as an add-on for Bitcoin, later it developed in various stages. As a TRC-10 utility token based on the TRON blockchain, BTT powers features of the most popular decentralized protocols and applications in the world. Dapps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline. It uses BitTorrent protocol for sharing and transferring. BitTorrent was the largest file sharing protocol in 2019. The TRON network uses Delegated Proof of Stake protocol for the security.
(2) BitTorrent (BTT): The Salient Features
Supported by a robust and high-bandwidth public blockchain platform, the issue BitTorrent has addressed is the accessibility issues of putting in place a hybrid consensus mechanism. BTT is based on cryptographic methods that are reliant on zero-disclosure evidence and mathematical consistency of the entire blockchain-enabled transaction which is cross-checked without revealing any data or message on the other party involved in the transaction
A salient characteristic that stands out in this protocol is that it ensures liquidity and ensures lightning-fast speed of transactions on the BTT network. This perceptible trend makes it unique compared to other Ethereum-based decentralized finance protocols and at the same time establishes a plethora of mining avenues. Hence it would not be an overstatement to name the function of BTT tokens as catalysts in implementing smart contracts and transfer funds
All file sharing and downloading is executed by the software from BitTorrent Inc. The platform was launched in 2001 by its founder Bram Cohen. The founder Bram Cohen developed a file sharing system to share files with faster download speeds with no copyright issues for large files to BitTorrent clients called BitTorrent system. It offers interoperability with other networks like TRON and Binance Smart Chain. Dlive protocol is the first-ever decentralized live stream provided by the company
(3) BitTorrent Chain (BTTC) Mainnet Goes Live with BTT Redenomination
The coin gets smarter because on December 12, 2021, the developers launched the mainnet of BTTC with BTT redenomination. Now it supports Ethereum, TRON, Binance Smart Chain, and it allows decentralized transfers of assets without any restrictions. It will support more chains in the future.
While maintaining its current market capitalization, the supply of BitTorrent (New) tokens has increased at a ratio of 1:1000, which means 990,000,000,000,000 tokens are now available in the crypto market. The old ones are named BTTOLD, and the new coins are known as BTT
It enhances the BTTC ecosystem and lowers the entry barrier of global investors. Besides that, it increases the value of the coin and diversifies its use cases, giving an opportunity to a new super network that could connect all chains. It is the world’s first heterogeneous cross-chain protocol that acts as a Proof-of-Stake mechanism for scaling smart contracts. The use cases of new BTT tokens are as follows
*A validator on the BTTC network
*Stakes on BTTC to gain rewards
*Role in the governance of the BTTC community
*Pay gas fees as a native token of the network
Developers said the two coins (BTT, BTTOLD) would co-exist for some time, and exchanges, investors, promoters are requested to swap the old BTT into new BTT within 30 days. Some exchanges may not support this redenomination process; that is why BTTOLD will be available on those exchanges and works like their original use cases.
(4) BitTorrent (BTT): The Technical Analysis
The price-voyage of BTT has been wrought with surprises coupled with twists and turns. Currently, BitTorrent price is trading around $0.000001747 with a circulating supply of 923,767.70B BTT currently in the market while the total supply is 990,000,000,000,000 BTT. The market capitalization of BitTorrent (New) is $1,614,149,417 with a 24-hour trading volume of $62,824,421. Being a product of recent decentralized blockchain innovation, the future seems bright for BTT as per experts’ technical analysis. The all-time high price for the BTT tokens are around $0.000003054.
Since the beginning of this year, the BTT token traded lower till date with few in-between spikes. On January 18, the price of BitTorrent (New) token was trading above $0.0000030. However, after that it faced rejection and fell to the low of $0.0000017 in the last month. After hitting $0.0000017, the BTT price marked moderate recovery but it couldn’t managed to sustain and retested $0.0000017 level. Let’s explore BTT price predictions from the market experts to know the right time to invest.