Monthly Archives

February 2019

BitTorrent Foundation BTT tokens Poppy

BTT card is coming! GRID X BitTorrent partnership

February 16, 2019

Troncard is proud to announce its first partnership. GRID X BitTorrent celebrates the debut of BitTorrent (BTT), a new utility token running under the TRON Blockchain.

Introducing GRID X BitTorrent

This one of a kind card is preloaded with TRON (TRX) and designed to support BitTorrent (BTT). Simply choose the amount of TRX you want on the card, 15,000, 50,000 or 100,000 TRX, and receive a bonus amount of BTT included on the same card. Card holders will also be eligible for the official airdrop program, and receive an amount of BTT in proportion to the balance of TRX held on the card at the time of the airdrop.

The card will be available for pre-order on Troncard.io starting on February 18th, 2019 at 8 PM UTC.

                                                                GRID X BitTorrent bonus chart

GRID X BitTorrent Features

Card Rewards

The BitTorrent card earns rewards on your account balance, whether you use your card or not. The BitTorrent card will earn 1.5% annual interest on TRX held, in addition to supporting the BTT airdrop program.

The BitTorrent card will support BTT airdrops in proportion to the balance of TRX held on the card at the time of said airdrop.

Smart

Fully integrated with Poppy, the card is able to create a secure payment system. It will also feature an automated claim service to enable users to securely withdraw funds through the Troncard.io dashboard.

Fast Secure Transactions

Troncard has built a proprietary payment solution on the TRON Blockchain to ensure transactions are processed quickly and securely.

Fully Recoverable

Like TronCard, the BitTorrent card will be fully recoverable if lost or stolen and requires no private key to remember after your card is registered.

Easy to Gift

GRID X BitTorrent cards are designed to be giftable. Purchase on Troncard.io and give them to friends and family. No knowledge of wallets, exchanges, the blockchain, or decentralization is required. Card holders can rest assured that their funds are secure and recoverable*, and with no private key, your account cannot be hacked and lose your funds.

Receive, store, and use BTT on the go for online and offline purchases — at the cafe next door or on Internet. Using digital currencies has never been easier.

                                        GRID X BitTorrent BTT Overview

What is GRID

GRID is a card powered by the TRON Blockchain. It is a prepaid solution for buying, holding and gifting TRX. GRID earns a standard interest rate, is easy to use, and is recoverable if lost or stolen, once its been registered.

GRID holders can store their cards and forget them while continuing to earn interest on TRX held, or they can transfer funds to any other TRON wallet. GRID aims to be a versatile and secure way to hold your cryptocurrency.


Please visit BitTorrent (BTT) official website for more information about BTT.

For more information and real-time updates about Troncard and GRID, please visit Troncard’s official website, or connect with Troncard’s social media on Telegram, Twitter, Facebook, Instagram, or on Sesameseed’s official website, Telegram, Twitter, Facebook, Instagram, LinkedIn, YouTube, and Medium.

For general questions, please email hello@troncard.io.

 

Sources and images: https://medium.com/bittorrent/grid-x-bittorrent-partnership-cards-3b025e6072dc

Binance Launchpad BTT tokens Justin Sun

Binance launchpad outlines Tron foundation and BitTorrent ICO

February 16, 2019

BitTorrent ICO project outlines on Binance launchpad launched in Jan 2019.

Here you can see the full Binance report of BitTorent project:

BITTORRENT (BTT)

Tokenizing the world’s largest decentralized file sharing protocol

KEY METRICS [as of 15 Jan 2019] 

BTT Issuing Price$0.00012 USD (TRX & BNB TBD) 

BitTorrent Token (BTT) is a TRC-10 token running on the Tron Network

Circulating Supply: 89,100,000,000

BTT Total Supply: 990,000,000,000

BTT Project Website: https://www.bittorrent.com/

PROJECT OVERVIEW

Many internet users today are familiar with the BitTorrent peer-to-peer protocol invented by Bram Cohen that powers the torrent clients used around the world. The addition of the BTT token extends the familiar protocol to create a token-based economy for networking, bandwidth, and storage resources on the existing Bittorrent network, thus providing a way for network participants to capture the value of sharing bandwidth and storage.
Users of torrent clients are familiar with challenges such as slow downloads and files that become unavailable over time. By creating incentives for users to share, the token will enable faster download speeds and better swarm longevity for the entire network.

WHAT IS BTT?

By introducing the BitTorrent token (BTT), BitTorrent will provide a distributed infrastructure platform to third-party app developers that enables consumers to continuously contribute small amounts of value from their devices by allowing others to make use of their spare resources.

KEY FEATURES

  • Existing BitTorrent clients will implement an optional set of backward-compatible protocol extensions which allow them to bid and receive bids for their bandwidth, working in tandem with a cryptocurrency wallet and bidding engine.
  • The project plans to utilize the BTT in more utility cases beyond the current sharing of bandwidth, expanding access to more services including general storage, computation, and resource availability.
  • The token will initially be used in BitTorrent clients as payment in exchange for requesting upstream bandwidth. Usage will be extended to additional capabilities including purchasing content, tipping live streaming performers, and crowdfunding the creation of new works.

Everybody Wants To Download

When torrenting, the biggest frustration for the end user is how long it takes to find and completely download the desired content. Users do not want to wait hours or days to get the movie they want to watch or the game they want to play. Currently, there is no incentive for individuals to continue seeding files to the network once they receive their content, resulting in a tragedy of the commons.

Adding the BTT Token

With the addition of the BTT Token, those who do not want to wait a long time to complete a download may utilize the token to incentivize more seeders for desired content, thereby accelerating download speeds.
However, paid consumers are not the only ones who benefit; the token is an opt-in model, meaning that individuals that do not want to pay or charge for torrenting can always continue to do so. The possibility that a user can receive tokens of value natively within their torrent client means that there is a tangible expected monetary value reward for choosing to seed files, beyond the current rewards of a non-throttled download speed and the altruistic reward of maintaining a healthy sharing ratio. With the potential to earn, the token can also disincentivize users from turning off seeding once they receive the files they want, because of the opportunity cost of forgone seeding income.

How Tokenizing Helps All BitTorrent Users

The effect of increased file availability from introducing the BTT Token is even more prominent for rarer resources and files — the potential willingness to pay from consumers necessarily means that the potential earning power for seeding rare files is even higher, which then encourages these files to actually be hosted within the network. Thus, the average user that does not pay is still able to benefit from the increased file availability across the BitTorrent network, as more files should theoretically be available to the network as a whole because of this increase in expected reward for seeding. Much like the freemium models popularized by content streaming sites such as Spotify, free-tier users still enjoy the benefits of greater content availability because other revenue streams incentivize content creators to earn rewards for contributing to the platform.
In short, content providers can earn for their efforts, non-paying consumers can enjoy increased access to content, and paid consumers can enjoy accelerated access, a win-win for all.

Compounding Effects on Availability

Within the BitTorrent network, anyone with the complete file can become a seeder — if more people receive the complete torrent, more people can become seeders, thus compounding the level of availability that can be provided to the network. In essence, those who pay to accelerate their download process of one torrent can further increase the availability of the file, helping increase access for other torrenters.

Token Supply Distribution:

  • Public sale tokens constitute 6% of total token supply
  • Private sale tokens constitute 2% of total token supply
  • Seed sale tokens constitute 9% of the total token supply
  • Tron Airdrop tokens constitute 10.1% of total token supply, to be spread out over the next 6 years
  • BitTorrent Protocol Airdrop tokens constitute 10% of total token supply
  • Team and the BitTorrent Foundation were allocated 19% of total supply
  • TRON Foundation received 20% of issued tokens
  • BitTorrent Ecosystem is allocated 19.9% of issued tokens
  • Partnership tokens constitute 4% of the total token supply

Private Sale Overview

Conducted on 1 Nov 2018 for TRX at a rate of 112 BTT = 1 TRX, raising 966,000,000TRX at $0.0001774 per token by selling 11% of total supply.

Public Sale Overview

Conducted on 28 Jan 2019, raising 420,000,000TRX at $0.00012 per token by selling 6% of total supply.

 

Token Supply Distribution:

  • Public sale tokens constitute 6% of total token supply
  • Private sale tokens constitute 2% of total token supply
  • Seed sale tokens constitute 9% of the total token supply
  • Tron Airdrop tokens constitute 10.1% of total token supply, to be spread out over the next 6 years
  • BitTorrent Protocol Airdrop tokens constitute 10% of total token supply
  • Team and the BitTorrent Foundation were allocated 19% of total supply
  • TRON Foundation received 20% of issued tokens
  • BitTorrent Ecosystem is allocated 19.9% of issued tokens
  • Partnership tokens constitute 4% of the total token supply

Private Sale Overview

Conducted on 1 Nov 2018 for TRX at a rate of 112 BTT = 1 TRX, raising 966,000,000TRX at $0.0001774 per token by selling 11% of total supply.

Public Sale Overview

Conducted on 28 Jan 2019, raising 420,000,000TRX at $0.00012 per token by selling 6% of total supply.

Token Governance & Use of Funds

As of 2 Jan 2019, BitTorrent has used approximately 18% of Seed Round funds according to the allocations below:

  • [3%] Partnerships and community development
  • [6.5%] Marketing
  • [64%] Team FTE costs
  • [3.5%] Development
  • [3%] Equipment and software
  • [2%] Legal
  • [2%] Operational Costs

Tokens are held in a TRC-10 compatible cold wallet. The unlocking of tokens will be handled by the BitTorrent Foundation. The foundation utilizes multi-sig wallets that the CEO, Head of Finance, Trading Director and Finance Controller have access to, of which three must be present in order to unlock funds.

BTT Token Release Schedule

The following chart represents the number and breakdown of all BTT tokens that are to be released into circulation on a monthly basis.

Note: TRON Airdrops continue for 6 years until 2025, and BitTorrent Airdrops, BitTorrent Ecosystem tokens, & Partnership tokens continue unlocking until 2028.

BTT Token Overview & Use Cases

Current BTT Token Utility: The BTT token is currently in live testing as a mechanism for BitTorrent clients to bid and earn tokens in exchange for contribution of their upstream bandwidth within existing BitTorrent peer-to-peer swarms.

Future BTT Token Use Cases:

The project plans to utilize the BTT token beyond the current focus on sharing of bandwidth, and expand to additional services related to storage, computation, & resource availability, such as the development of a CDN.

  • Purchase of Downloadable Media: Users can purchase downloadable assets directly from creators.
  • Livestream Tipping: Allow viewers to tip performers during live streams with gifts including BTT that they have earned via uploading, exchange purchase, or other means.
  • Crowdfunding For Creative Works: Providing smart contracts that allow creators’ fans to escrow contributions of BTT to fund creation of new work.

Commercial Partnership and Business Development Progress

The TRON team is also working to bring content from TRON Arcade games, song artists, and news sites to BitTorrent and the BitTorrent Now product.

PRODUCT & METRICS

Total DAU across all BitTorrent products is currently ~25M. Total MAU is ~100M. In the team’s market share analysis, BitTorrent clients comprise about 50% of globally active torrent clients.

The Official BitTorrent Client can be downloaded here.
The lightweight μTorrent Client can be downloaded here.

COMMUNITY DATA

Social Community Overview & Strategy

The top priority for the BitTorrent team is to make blockchain technology more accessible and easy to understand. After integrating blockchain into its already decentralized ecosystem, the BitTorrent team can then roll out subsequent strategies targeting communities around gaming, entertainment, and other verticals of media and content.

BitTorrent and uTorrent Follower Demographic

For the BitTorrent and uTorrent Facebook accounts, the follower demographic contains ~76% men and ~70% also have higher education. The userbase is dispersed across many countries, including Brazil (14%), India (10%), United States (6%), Philippines (4%), Italy (4%), Pakistan (4%), Egypt (3%), Romania (3%), and United Kingdom (3%).
The BitTorrent Twitter account has ~70% male followers and ~30% female followers.

Community and Social Channels

  • Telegram (English) | 62K members
  • Twitter (English) | 53K followers
  • Facebook (BitTorrent) | 206K Likes
  • Facebook (μTorrent) | 1.1M Likes

COMPETITOR OVERVIEW

Key Comparables

NAME DESCRIPTION TOKEN PLATFORM MAINNET
Upfiring A peer-to-peer file-sharing desktop application that encrypts and distributes files between peers over a decentralized network. Users earn tokens by seeding files. The movement of tokens and files on the network is mediated by smart contracts, allowing for trustless exchanges. UFR ETH Testing
Flixxo Video peer-to-peer distribution platform incentifying content creators with utility tokens. Users can earn, spend transfer between accounts, or cash out. FLIXX ETH Active
JoyStream A peer-to-peer application that uses Bitcoin Cash as an incentive for BitTorrent users that compensate each other for content. BCH Bitcoin Cash Testing
LBRY LBRY is a free, open, and community-run digital marketplace where creators upload their work to the LBRY network of hosts and set a price (can be free) per stream / download. LBC LBRY Active

Because BitTorrent has been the world’s largest decentralized ecosystem since 2001, BitTorrent has a massive content advantage over similar blockchain powered content ecosystems. Controlling 40-50% of the BitTorrent protocol’s usage worldwide, BitTorrent and μTorrent clients tap into a large userbase (with 25M DAU and 100M MAU) that contributes nearly a quarter of the global online content distribution. BitTorrent is responsible for 22% of global upstream traffic and 3% of global downstream traffic (as of 2 Oct 2018).

Link To Whitepaper

Sources and images: https://info.binance.com/en/research/BTT-2019-1-17.html

 

This website is not affilated with Binance, Tron, and BitTorrent Foundation. This is NOT financial advice.

BitTorrent Foundation Justin Sun TRON FOUNDATION

Tron’s BitTorrent Token Airdrop starting Feb 11th 2019 until 2025

February 16, 2019

The first thing to know about the BitTorrent Token (BTT) airdrop is that it’s not just a one-off event.

This first one begins a series of monthly airdrops that will run until February 2025.

There are 990 billion BTT tokens created on the Tron blockchain. Of those, 10.1 percent have been designated for airdrops to TRX holders over the next six years, starting on Monday. Furthermore, the monthly airdrop will get bigger as time goes on, increasing once every February.

“Think of Tron and BitTorrent like a razor and a blade,” Justin Sun, founder of Tron and CEO of BitTorrent, told CoinDesk via a spokesperson. “You need both together to create a new internet economy driven by decentralization. We are seeding BTT to deliver a marketplace of innovations and applications across the web.”

When the Tron blockchain reaches a block height of 6.6 million, the team will take a snapshot of TRX balances and split up the first airdrop proportionally to all TRX holders. The first 12 airdrops will each distribute 990 million BTT tokens. Holders of one TRX will receive 0.11 BTT next week, according to Binance.

Currently ranked the eighth largest blockchain by market capitalization according to CoinMarketCap, Tron is currently worth $1.75 billion as of this writing. That’s down in value compared to when the ERC-20 version of TRX migrated to Tron’s standalone blockchain, which then stood at $3 billion.

Last June, Tron acquired BitTorrent, one of the oldest decentralized protocols on the internet. Then it announced it would create a new token called BTT for use with its file-sharing services. The public sale for that token sold out almost instantly, much like early sales during the initial coin offering (ICO) craze.

Is BTT safu?

Though Binance has been communicating all the information about the BTT distribution, users don’t need to hold their tokens on the exchange to receive the free tokens.

Two wallets that were featured at niTROn Summit 2019 have confirmed that their users are all set to receive airdrops of TRC-10 tokens (the standard used to create BTT). Tron Wallet and Trust Wallet have both confirmed that they are ready to support the airdrop, as have exchanges Binance, OKEx and Huobi.

“We support TRX, TRC-10 tokens, and if you control your keys, you will get an airdrop of BTT,” Viktor Radchenko of Trust Wallet confirmed to CoinDesk over Telegram. We previously spoke to Rachenko when non-fungible tokens were the hot topic in crypto.

“There’s not anything left to do,” Fred Terenas, who runs business development for Tron Wallet, told CoinDesk, adding that his team is still getting that question endlessly.

Terenas has noticed one action advanced users are taking to get ready.

With the forthcoming initial BTT airdrop, he said, holders of other TRC-10 tokens are moving to TRX to get the free BTT. “Some people go out and get rid of whatever they have to get the airdrop,” he said. This has led to short-term price drops for TRC-10 tokens, though Terenas expects many users to return to their original holdings after they receive some BTT.

Planned chaos

This dynamic, however, could play out each month. Such movements to and from TRX will make for an interesting ongoing experiment.

With its long airdrop plan for BTT, Sun’s Tron has positioned TRX as the proverbial gift that keeps on giving.

The total monthly airdrop will increase five times over the next few years, ending at 1,402,500,000 BTT per month in February 2025.

That said, if this is a strategy by Tron to encourage its supporters to HODL, Turing Advisory’s token economics expert, Sid Kalla, doesn’t see it working.

“In general, the price of a token can drop much more than what the airdrops are worth,” he said, “so this should not be seen as a ‘long-term hold’ strategy for TRX holders, going by the history of airdrops in the space.”

Kalla does foresee advantages for Tron’s partner, Binance, however.

“One thing that jumps out is the set date on which the balances are eligible for the airdrop. This is bound to increase volatility and trading volume around this date, which is likely good for Binance,” Kalla noted, while acknowledging he couldn’t be sure:

“There is not too much precedent here with a long airdrop.”

 

Sources: https://www.coindesk.com/what-to-know-about-this-weeks-bittorrent-token-airdrop-on-tron?utm_source=social&utm_medium=Hootsuite&utm_campaign=

Image: (Photo by Brady Dale for CoinDesk)

Uncategorized

JP Morgan Chase is the first US bank to launch its own cryptocurrency coin

February 16, 2019

JPMorgan Chase & Co, America’s largest bank, is launching its own cryptocurrency. Dubbed ‘JPM Coin,’ the new cryptoasset has a fixed value tied to the U.S. dollar.

Introducing JPM Coin

JPMorgan Chase unveiled its new cryptocurrency in an official press release on Thursday. JPM Coin, which has a fixed value redeemable for one U.S. dollar, will lower the cost, risk and processing time of money transfers. The bank operates a massive wholesale payment business, with more than $6 trillion in client funds transferred each day.

The bank used the press release to clarify its position on cryptocurrency and blockchain technology: “We have always believed in the potential of blockchain technology and we are supportive of cryptocurrencies as long as they are properly controlled and regulated,” the bank said.

Over time, JPM Coin will be “extended to other major currencies,” it added.

The release date for the new stablecoin hasn’t been confirmed, but the bank said it is working with regulators to solicit feedback and approvals.

Cryptocurrency is Here to Stay

Jamie Dimon: Bitcoin’s biggest basher. | Source: Shutterstock.

JPMorgan’s entry into the cryptocurrency market is a significant departure for the bank, whose CEO has been among the most vocal critics of bitcoin and other cryptocurrencies. Jamie Dimon, the bank’s CEO, called bitcoin a “fraud” back in 2017. He later regretted those comments and said so publicly, but reaffirmed his lack of interest in bitcoin.

Jamie Dimon Doesn’t Want to Talk About Bitcoin Anymore

While Jamie Dimon was bashing bitcoin, competitors like Morgan Stanley were quietly clearing bitcoin futures contracts for clients. The market for bitcoin futures has picked up steadily since CBOE and CME Group first launched their respective contracts back in December 2017. In just a few months from now, Intercontinental Exchange (ICE) will launch its very own bitcoin futures contract with physical delivery of the cryptocurrency. Nasdaq is also planning to launch its own crypto derivatives market focused on bitcoin.

Meanwhile, global asset manager Fidelity Investments is investing in a cryptocurrency exchange and launching a new custody service for bitcoin investors. The firm is already working with a “select set of eligible clients” and is planning further expansion of crypto custody solution in the next several months. Custody solutions involve a third party holding onto securities to eliminate the risk of loss or theft. This service provides a more reliable mechanism for trading and storing bitcoin.

Goldman Sachs Group Inc. is also said to be working on a range of crypto service offerings, including a bitcoin trading desk. However, the investment bank has put its plans on hold due to complex regulatory processes.

 

Sources and image: https://thebitcoin.pub/t/jpmorgan-becomes-the-first-u-s-bank-to-launch-its-own-cryptocurrency/53422?u=john