What will happen to BitTorrent and Tron (TRX)?

BitTorrent (BTT) cryptocurrency is a TRC-10 cryptographic token jointly issued by BitTorrent Inc. and Tron Foundation in 2020 in Singapore. BTT coin is best known for its explosive crowdfunding campaign on Binance DEX. The IEO (Initial Exchange Offering) of BitTorrent lasted only 7 minutes and raised $7 billion during that time.

The main problem of the market is the lack of economic incentives for users, their lack of motivation for long-term distribution. The BitTorrent team solved this problem by introducing the Tron blockchain within its own protocol. Thus, BitTorrent users are rewarded with tokens for sharing files and providing their resources.

Read our price forecast for BitTorrent (BTT)

BitTorrent is the most widely used decentralized protocol, created in 2001 by Bram Cohen. Later, already in 2004, the BitTorrent Foundation was created. The BitTorrent client allows you to build peer-to-peer distribution of large files between several users simultaneously.

In 2020, the Tron Foundation acquired BitTorrent, giving the company a huge user base. What is happening with this cryptocurrency now? Read more in our BitTorrent review on Changelly!

BitTorrent (BTT) value

It all started with the overwhelming success of the ICO, which raised $7 billion almost instantly. In 2 weeks, the price of BTT increased from $0.000012 to $0.001. Thus, those who managed to purchase coins during the ICO received 800% of the net profit.

BitTorrent customers have implemented an additional set of backward-compatible protocol extensions that allow them to place and accept bets on their traffic, working in tandem with a cryptocurrency wallet and bidding engine.

The project plans to expand the use of the BTT token into other areas of business, including shared storage, computing and resource availability. Initially, the token is used in BitTorrent clients to pay for requests to expand the distribution channel. In the future, it is planned to use it to access other useful functions, such as purchasing content, donations on live broadcasts, and crowdfunding the creation of new works.

Now the main function of the BitTorrent token is to reward users for not deleting files from their computers and remaining on file distribution. These tokens can be used to purchase licensed content on various streaming services.

The main reason for the success of the BitTorrent ICO was a large-scale promotional campaign and the contribution of the great marketer Justin Sun to it. BitTorrent coin (BTT) is currently trading at $0.000798 . The market capitalization of the BTT coin is $167,682,148 and is in 42nd place among all cryptocurrencies. The total coin supply is 990,000,000,000 BTT. The developers have reserved 40% of the total number of coins. Such a quantity of currency in the hands of the development team opens up many opportunities for market manipulation.

The historical maximum price for BTT was recorded on May 28, 2020 – then the coin cost $0.001861. The all-time low of $0.000419 was reached on February 2, 2020.

You can find more information about the coin and its price on BitcoinWiki.org.

Blockchain BitTorrent (BTT)

BitTorrent (BTT) coin is based on the TRON blockchain. It uses Delegated Proof-of-Stake as a consensus algorithm in which delegates are selected through voting. Delegates monitor the stability of the system and receive a reward for this. The main goal of launching the BTT coin is to expand the functionality of the network and improve the efficiency of the BitTorrent client.

The emergence of the BTT token made it possible to add to the protocol already known to many a tokenized economy for network resources, traffic and data storage within the existing BitTorrent network. This allows network users to better understand the value of traffic and distributed storage.

Users of torrent clients are already familiar with such troubles as low download speeds and unavailable files after some time. By creating an economic incentive for users to stay on file sharing, the token provides consistently high file download speeds and extends the life of the entire network.

The team released an extension to BitTorrent Speed, allowing network participants to find each other using existing BitTorrent mechanisms. They use infohash (.torrent files) through a tracker or through a node search in DHT (Distributed hash table). Later, two new extensions for BitTorrent appeared:

• bidannounce - auction-type bidding begins on it: requests are sent from the downloader (peer) to the distributors (seeds) with the bid price for the required parts of the files. This is followed by agreement or refusal (and a certain 30-minute interval is mentioned);
• bidscrape – a list by which service providers see requests based on information hashes.

Let's summarize some of the pros and cons of the BTT coin:

• Pros Ecosystem Development
• User encouragement
• No commissions

More about DHT

DHT

DHT (Distributed hash table)

is a protocol that allows bittorrent clients to find each other without using a tracker.

Clients with DHT support form a common DHT network, and help each other find participants in the same distributions.

DHT support is available in Mainline, µTorrent, KTorrent, BitSpirit and BitComet clients. Azureus has its own DHT implementation, meaning Azureus clients form their own separate DHT network.

PEX

PEX (Peer exchange)

is an extension of the BT protocol for exchanging lists of participants.

PEX is implemented as additional messages between clients already connected to exchange file segments using the usual BT protocol.

Unlike the tracker and DHT, PEX can only be an auxiliary means of obtaining peers, since it cannot help new peers connect to the distribution.

PEX is available in the Azureus, BitComet, µTorrent and BitTornado clients, and each client implements it differently, so only identical clients can use PEX. Since version 3, Azureus (Vuze) can exchange PEX with uTorrent and BitTorrent.

Functions

Both DHT and PEX actually perform the main function of a tracker - they help file sharing participants learn about each other. They can:

1. Help participants find each other faster

For example, there is peer X on distribution with an unavailable port. Peer Z connects to the distribution, but cannot start a connection to X on its own, and is forced to wait until X finds out about it itself. X just accessed the tracker and plans to do so next time in an hour.

But peer Y once again turns to the tracker and finds out about the new peer Z. At the same time, Y itself has been connected for a long time and is engaged in file sharing with X, so it tells X the address of this new peer via PEX. Now X can start connecting to Z.

2. Reduce the load on the tracker

Some clients, for example Azureus, receiving peer addresses via DHT or PEX, are less likely to request a list of peers on the tracker.

3. Keep participants together during periods of tracker unavailability

It is known that if the tracker is the only source of information about peers, then if it is inoperative, distribution gradually stops. Clients remember already known lists of addresses of other peers, but gradually these lists become outdated - some users are disconnected from the distribution, some change their IP address, and new users cannot connect to the distribution at all.

PEX allows you to somewhat slow down the process of disintegration of the swarm of participants, and DHT allows you to completely replace the tracker, that is, even new participants can connect to the distribution.

4. DHT allows distribution without a tracker at all

This distribution is called trackerless. A torrent for it is created without a tracker address, and clients find each other through the DHT network.

When participating in trackerless BT distributions, clients acquire a certain similarity with eMule, which uses the KAD network.

How DHT works

The distributed network implementation in BT clients is based on a variant of DHT called Kademlia. Generally speaking, DHT (Distributed hash table) means a decentralized distributed system for combining a large number of constantly disappearing and appearing nodes and efficiently transmitting messages between them. Based on DHT structures, various more complex systems are built, such as P2P file sharing, cooperative web caching, DNS services, etc.

DHT uses the UDP protocol. BT clients listen on the same UDP port number that they use for incoming TCP connections. If you are actively using DHT, then opening this UDP port for access from outside is desirable, but not necessary - DHT will work just like that.

Each connected BT client is a separate node in the DHT network. It has its own unique ID, randomly selected from the same 160-bit space as torrent infohashes.

Each node maintains a routing table containing contact information for many nodes “closer” to it, and for several more distant ones. The "closeness" of two nodes is calculated from the "similarity" of their IDs, and has nothing to do with their geographic proximity. When a node wants to find peers for a particular distribution, it compares the infohash of that distribution with the IDs of the nodes it knows, and then sends a request to the node whose ID is most similar to this infohash. That node returns to him the address of the node whose ID is even closer to the infohash of the torrent.

Then our node sends a request to that new node, and receives from it the address of the next node, whose ID is even more similar to the infohash of the torrent.

Thus, requests from clients participating in the distribution of a torrent with a certain infohash gradually flock to nodes whose IDs are most similar to this infohash. These nodes remember previous requests, and all subsequent requesting nodes will return the addresses of previous peers from the same distribution.

Private key

On public (open) trackers, where anyone can download a torrent and participate in the distribution, DHT and PEX serve for the benefit of all participants.

For private (closed) trackers, it is first of all important that only registered users can participate in distributions, and that they follow certain rules. When a client first contacts him, the private tracker has the ability to prevent him from participating in the distribution, simply by not telling him the addresses of other participating clients. Therefore, it is important for a closed tracker that clients do not receive these addresses via DHT/PEX.

DHT and PEX appeared in Azureus and BitComet clients around the summer of 2005. The administrators of many private trackers were unhappy with this new functionality, and therefore began to ban these new versions of clients on the tracker.

Then the client developers proposed a new key inside the torrent file: private. If it is equal to 1, then the client is obliged to automatically disable DHT/PEX for this torrent, regardless of the user's wishes. This torrent is called Secure Torrent.

Almost all modern private trackers themselves force private:1 into all torrents posted on the tracker, and also prohibit several outdated versions of clients that support DHT or PEX, but do not yet know about the private key. Tracker users simply cannot use DHT/PEX on distributions, and there is no problem.

Note that the presence of a private key changes the infohash of the torrent, so cutting it out of the torrent file is useless - other clients still won’t recognize the changed torrent.

Should I use it?

• All your torrents are from private trackers.

— If you enable DHT in the client, then it turns out that the client connects to the DHT network, spends traffic on it, helps other clients find the peers they need, but does not use DHT for themselves at any distribution. If you don’t want to waste extra traffic, then it’s probably better to disable DHT in the client.

• You are downloading a distribution from a public tracker

- If the tracker returns you a lot of peers and there are enough of them to achieve a good download speed, then you probably don't need DHT/PEX. If not, then it’s worth trying to enable them (both in the client and in the distribution properties), this may help you find more sources.

• You download the distribution from a private tracker without a forced private key

— Of the major Russian-language trackers at the end of 2006, this is torrents.ru. The ability to use DHT/PEX in distributions on these trackers is left to the distribution (torrent creator).

Generally speaking, this situation cannot be considered normal, especially on trackers with a passkey system. The fact is that in the BitComet and Azureus clients, through DHT, users can find out the passkey of other users, and dishonest users can use someone else’s passkey to download under someone else’s account. Therefore, at least in these clients on such trackers, it is recommended to turn off DHT.

DHT and statistics

This section concerns only private trackers, on which the private key is not forcibly inserted into torrents, and on some distributions (depending on whether the distributor himself inserted the private key into the torrent) you can use DHT and PEX.

There is often an opinion that DHT enabled in the client affects the tracking of client statistics by the tracker, for example, “distributed via DHT, which means the statistics went past the tracker.” This is not true.

Firstly, DHT/PEX is only used to obtain peer addresses. There is no file sharing or any accounting of statistics on them. The client reports statistics of downloaded and uploaded data only to the tracker.

That is, “distributed via DHT” actually means “I received information about some (or all) peers via DHT, and probably some peers also found me via DHT.”

Secondly, although clients usually know where they received peer addresses from, no client separates traffic into “received/sent to DHT peers” and “received/sent to peers received from the tracker”. Even if the client wanted to do this, it would be difficult for the client to do this - some peers can be received both from the tracker and via DHT or PEX, and often the client does not know how his address was received by the peer that is starting the connection to it.

The client reports to the tracker the total data on the volumes of what it downloaded and transferred to all peers with which it communicated, regardless of whether the client learned about individual peers through the tracker, DHT or PEX, or whether that peer even started the connection itself. That is, even if, due to DHT/PEX, “left” users (who do not access the tracker) appear on the distribution, the client will still report to the tracker everything that they have downloaded and given away.

Correct accounting of statistics depends only on the state of the tracker: the tracker is working - statistics are taken into account, if it is not working - they are not taken into account. Only in the case of a tracker that is not working for a long time can DHT/PEX play an indirect role, preventing file sharing from gradually dying out on such “distribution without taking into account statistics.”

BitTorrent Roadmap

The BitTorrent project does not have a roadmap as such. There is a short list of the team's plans for the second and third quarters of 2019.

• Launch a wallet with a graphical interface for stable client operation;
• Start stimulating users by awarding them BTT coins;
• Publication of additional documentation on the BTT coin and protocol tokenization;
• Add a wallet that supports TRX tokens and any TRC10 and TRC20 tokens;
• Experimental integration of decentralized applications.

You can find all the latest information about BitTorrent's plans and achievements on their blog.

Latest news about BitTorrent

TRON Foundation and BitTorrent introduced the world to BitTorrent Speed, an extension that allows you to optimize the downloading of torrent files.

Today is a huge day for all of us. #BitTorrentSpeed ​​will change the way people torrent and adopt the uses of #cryptocurrency and #blockchain! $BTT #BTT https://t.co/A3PCIIAfeO

- BitTorrent Inc. (@BitTorrent) July 8, 2019

Today is a very important day for all of us. #BitTorrentSpeed ​​will change the way people torrent with the help of #cryptocurrencies and #blockchain! $BTT #BTT

The new software will, among other things, add support for the BTT token, which will allow users to receive money for sharing files. You can manage the received coins through the wallet built into the client.

After the official release, the BTT token rate fell by 10%, despite the fact that before that it had shown stable growth.

Wallets for BitTorrent (BTT)

To store BTT tokens, you can use any wallet that supports TRX. We have already talked about several wallets for Tron (TRX) in our review. Let's take another look at them.

see also

What is Ethereum (ETH)?

Amy March 11, 2020 6 minutes

Tron Wallet is a secure peer-to-peer crypto wallet with TRX exchange functionality. Available as an extension for Chrome, and an application for iOS and Android. It is easy to install and simple to use. All information is encrypted with a password and a 24-character phrase.

You can also store your BTT tokens in any Tron-supporting wallet, such as Huobi Wallet, Trust Wallet, Exodus, Gate.io, etc. You can also use the Ledger Nano S cold wallet, which provides secure offline storage of your savings.

Where to trade BitTorrent (BTT)?

It is extremely easy to exchange BTT, because this token is supported by most of the largest cryptocurrency exchanges:.

How to install the program on your computer and work with it

There are a large number of client programs, but the most popular for Bit torrent is µTorrent . To install a torrent on your computer, all the functions and checkboxes that Yandex offers can be left untouched. With the exception of Yandex services, as they can clutter the browser with unnecessary options. By default, the file is Russified automatically. Different versions of programs may have differences. The torrent client installation file can be found on the official website utorrent.com and other resources.

Procedure for installing the program:

1. after downloading the file, you need to install the torrent;
2. run the downloaded file;
3. select the appropriate installation language. After that, the download of the language pack begins, followed by automatic installation;

4. in the two windows that appear, select the Next button;

5. accept all the terms of the agreement for the use of the torrent by clicking on the I Accept button;

6. Select the folder to install the program, and then click on the Next button;
7. in the next step you need to make sure that there are 2 checkboxes. Without this, the torrent tracker will not be able to function effectively in the file-sharing system and automatically connect download programs after connecting to the Internet;

8. in the next window that appears, you need to uncheck the option to automatically launch the program and click Next, and then Finish. This completes the uTorrent installation.

How to use the program

All basic information for a new torrent user is located in the central window of the program.

To work effectively, the following settings are required:

• you need to create folders on the archive disk for torrent files;
• create 2 more in this folder, for torrent files and ready-made documents;
• The folder paths must be entered correctly.

You can select the functions of the program's working window yourself. In order to start downloading from a new torrent, you need to click on the program menu and check the boxes to identify those tasks that will be of the greatest interest while downloading or distributing files.

For example, the user can always make the size of a file for download visible, view how many people have the file, how many documents they upload, how many peers there are at the moment, upload time, etc. After setting up and selecting all the necessary options, you can proceed to download torrent files.

Features of work

• sometimes during the download process, the antivirus starts complaining about detected threats. When downloading programs, antivirus programs often perceive them as hacking programs. In this case, you should add the file to the list of trusted ones in your anti-virus program, or double-check the file;
• the download speed determines the upload speed, and the speed characteristics of Internet traffic in this case do not have any effect;
• Many intensive distribution sites have developed a rating system. It calculates the difference between receiving information and distributing it. The default value is 0.5–1, which means permission to download without sharing 5–10 GB. Further, the rating becomes zero, and to increase it the user has to distribute downloaded files;

• files downloaded via the Internet using a torrent tracker are not allowed to be modified or moved. Otherwise, the µTorrent client program may lose them and then generate an error;
• For security reasons, many torrent trackers do not recommend posting archived documents. Only an acceptable format allows the user to clearly understand the information. It is allowed to use iso formats and its analogues emulsifying a laser disk;
• Downloaded files should also be deleted from the client taskbar. After updating the cache, the non-deleted file will again be queued for downloading.

BitTorrent Summary

Since BitTorrent has been the world's largest decentralized ecosystem since 2001, it has a number of obvious advantages over other similar projects. By controlling 40-50% of the BitTorrent protocol worldwide, BitTorrent and µTorrent clients tap into a large user base that accounts for nearly a quarter of the world's online content distribution. BitTorrent accounts for 22% of global upstream traffic and 3% of global downstream traffic.

The fact that BitTorrent is incredibly popular all over the world is an indisputable fact. But is this the case with the BTT token? Not sure. The system worked well without issuing a token. People delete files from their devices and this leads to slower network transfer speeds. This happens because alternative ways to transfer large files have emerged.

The last point is the fact that the community is not sure that the Tron blockchain will be able to cope with the volume of BitTorrent information. Maybe there was no reason as such to transfer this system to the blockchain? Wait and see.

Disclaimer : this article is not a recommendation and does not encourage trading. The cryptocurrency market is highly volatile. While price analysis is a useful tool, it should not be considered a reliable forecast of the future performance of any investment vehicle.

We encourage everyone to explore different points of view and familiarize themselves with local legislation before investing in certain cryptocurrencies. Changelly staff, including the author of this article, may or may not own cryptocurrency, but refrain from making any recommendations or advice to the reader. DYOR!

How to choose a TMS system?

There are now dozens of TMS systems working with supply chains around the world: from international giants like SAP and Oracle to small solutions from startups. Their number is growing faster and faster, so you should start not from a well-promoted brand, but from the functionality of the system and the company’s tasks.

Here are 5 criteria by which we recommend choosing a TMS system.

Cloud technologies

Most modern TMS systems work with cloud technologies. This allows supply chain participants to more quickly access processes and synchronize data better, and work with cargo transportation becomes much more transparent.

But there is a nuance: before implementing a cloud TMS, make sure that its servers are located in Russia - this is required by Russian legislation. Otherwise, the company may have problems if the supervisory authorities decide to conduct an inspection.

Flexibility

A TMS system is not a “boxed” solution that just needs to be implemented and launched. Each company has its own specifics of cargo transportation, so the same system can work completely differently for two clients. Therefore, when choosing a TMS system, it is important to understand whether the developers are ready to adapt it to the company’s tasks.

It is also worth making sure that the developers will constantly support and improve the product. Some limit themselves to the implementation of TMS and initial modifications, after which they close the project and keep the source code for themselves. In this case, the company will no longer be able to change the functionality of the system if logistics processes change in the future.

Functionality "out of the box"

In continuation of the above: the functionality that TMS offers at the start is also important when choosing a system. Developers are not always ready to radically redesign the TMS mechanism or add a new module that all previous clients could do without.

For example, one of the most important options for a quality TMS is routing. Many systems do not offer this at the start; instead, developers set up the usual tracking of cargo from point A to point B. However, this will not help the driver build a route, rearrange it due to unforeseen circumstances, or calculate fuel consumption.

Employee competence

As mentioned above, the creators of a TMS system must understand not only their own product, but also understand the client’s business processes. Misunderstandings between developers and logisticians during cooperation are just as dangerous as at the start.

For example, if the logistics department keeps statistics at the product level, it needs to receive data about each brand separately: track invoices, invoices, and so on. TMS developers must understand whether the system can provide this level of detail.

Deadlines

Implementing a TMS system is a labor-intensive and lengthy process. At first glance, it may seem that the faster a new solution works, the better for the company. But that's not true.

If the developer gives too short a time frame (for example, 2-3 months), there is a high probability that they will offer a “boxed” solution and will not dive into business processes. And vice versa: if implementation takes about a year, it is too long.

A good average is 5-7 months.