9 Oct, 2019

Binance Launchpad to Introduce Bittorrent Token in 2019

Binance Launchpad, the exclusive token launch platform, under cryptocurrency exchange Binance announced that it would launch one new token every month in 2019, on Thursday.

Through a Medium blogpost, the exchange said it would be launching, BitTorrent and Fetch.AI soon. The post said, “BitTorrent is a TRON-affiliated blockchain project for peer-to-peer file sharing. BitTorrent’s protocol is empowering a new generation of content creators with the tools to distribute their content directly to others on the web. BitTorrent’s new BTT token will allow BitTorrent peers to incentivize activities that lead to better file sharing, like using faster networks and enabling longer seeding periods. This integration of ”BitTorrent peer-to-peer network and the TRON blockchain network via a set of BitTorrent protocol extensions, a custom token, and an in-client token economy” aims to benefit each of their 100 million monthly active users (MAU) across 138 countries.”

Explaining how the launchpad would work the exchange said that it would look into few criteria of the projects that were applying to be listed. The post said, “Some of the factors we look for in a project include: Relatively mature-stage project development, Readiness for large-scale adoption, A strong and committed team, Potential to benefit the growth and development of the wider crypto ecosystem. Once a project makes it through this selection process, it then gets featured on Binance Launchpad, in full view of Binance users who may be interested in participating in that project’s token offering.”

BitTorrent made ripples in the cryptocurrency community, when in 2018, Tron announced partnership with BitTorrent. At the time, Justin Sun, the Chief Executive Officer (CEO) said, “BitTorrent is perhaps the most qualified super representative candidate as it runs an extensive infrastructure to support a massive worldwide user base, and its team is comprised of the most experienced in decentralized protocol technology.”