1000BTTPrice

(1000BTT)

BTTOLD refers to the original TRC-10 BitTorrent Token before its redenomination. The new token is simply called BTT, but is also frequently referred to as BTTC (BitTorrent Chain) to distinguish it and highlight its connection to the BitTorrent Chain network. This new BTT/BTTC is a TRC-20 token, offering enhanced functionalities and broader compatibility compared to its TRC-10 predecessor. They represent different versions of the same underlying project token, with BTTC being the current, upgraded form.

The redenomination occurred at a 1:1000 ratio, converting 1 BTTOLD into 1000 new BTT/BTTC. The primary motivations included increasing the total supply from 990 billion to 990 trillion tokens to boost liquidity, diversify the BTT ecosystem, and make microtransactions more practical within the BitTorrent peer-to-peer file-sharing protocol. This change aimed to support future growth and enhance the token's utility and accessibility for a wider range of activities.

No, "1000BTT" is not a separate token. It's a common way to refer to the new BitTorrent Token (BTTC) following its 1:1000 redenomination. This nomenclature reflects that one unit of the old BTT (BTTOLD) was converted into 1000 units of the new BTT/BTTC. It simply highlights the redenomination ratio and helps differentiate the current token from its previous iteration, but it refers to the same new token standard.

The BitTorrent project addresses key issues within the peer-to-peer file-sharing ecosystem, particularly slow download speeds and the common problem of files becoming unavailable or slow once initial downloads are complete (lack of seeding). By introducing BTT/BTTC tokens, the project incentivizes users to continuously share bandwidth and storage space, ensuring faster and more reliable access to content. This creates a sustainable and efficient environment for decentralized file distribution, improving the overall user experience.

The new BTT/BTTC tokens have multiple use cases. They incentivize file sharing, allowing users to pay for faster download speeds and earn rewards for seeding. Holders can stake BTT/BTTC to secure the network and receive rewards, and participate in governance decisions for the BitTorrent Chain. BTT/BTTC is also used to pay for transaction fees on the BitTorrent Chain. Furthermore, users can engage in arbitrage trading, lend it out, or use other Earn products to gain returns, for example, on platforms like LBank.

The new BTT/BTTC tokens are widely available for trading on various centralized exchanges. Users can acquire and trade BTTC on platforms such as LBank, Binance, Huobi Global, OKX, CEX.IO, Kucoin, BitMart, WEEX, and Kraken. It's recommended for users to choose reputable exchanges like LBank that offer secure and convenient trading environments.