Everything about cryptocurrencies revolves around Bitcoin. The history of Bitcoin is as important as the entire concept of cryptocurrencies. We know everything about the cryptocurrency bitcoin, which is the lead in the case of learning the basics of cryptocurrencies. Bitcoin, no doubt, paved the way for the success of cryptocurrencies. And big thanks for modern day tools like Immediate Momentum Platform which has made trading Bitcoin and crypto manageable and accessible to everyone. The story of cryptocurrencies before the action of Bitcoin is as important as that of before the invention of Bitcoin. Before Bitcoin came into existence, a unique coin was in action. The name of the crypto coin is BitTorrent and it holds the position of the first crypto coin of the universe. In this article, we are going to discuss the titbits of the world’s first crypto coin that is BitTorrent and will try to clear the doubts of people over this least discussed topic.
Table of Contents
What is BitTorrent?
Those who know decentralized networks should have heard about the name BitTorrent. The platform of BitTorrent is a popular P2P file-sharing platform. Along with file sharing, this platform functions like a torrent, so is quite a useful tool. The brain behind BitTorrent is Brain Cohen who is a developer and a successful entrepreneur in the field of data and entertainment. The main idea behind the development of BitTorrent was the correction in the speed as well as the price of obtaining the important field over the networks. By the year 2018, TRON comes up with the idea of acquiring the control of this platform and did the same under the sheer guidance of Justin Sun. The name of Sun is also famous due to his constant effort to declare this a cryptocurrency and enjoy the perks of having blockchain technology. TRON did everything to inculcate the role of cryptocurrency in BitTorrent and he was successful. He released a standard token by the name TRC-10 blockchain standard token.
The market presence of the BitTorrent token
At present, BTT is ranked around 200th position when compared to different crypto assets all throughout the world. The price of BTT is $0.002243 with a trading volume of over $95k. The market cap of BTT is also very high in the range of millions and billions. The circulating supply of this currency is also impressive. Trading is possible for other cryptocurrencies and different stablecoins.
Contrasting features of BitTorrent over other cryptocurrencies
Due to the increase in interest of people in the decentralized mechanisms, BTT has successfully managed to follow the trend. Due to this, it has managed to develop a successful user base that is too in the millions, and thus quite several people follow the same. If we talk about communication protocols, then BitTorrent is the leading holder of the same. With time, developers have added many new features in BitTorrent as a part of its operations and adoption of upcoming deeds and needs. The platform has developed many new branches in paid forms like VPN and other ad-free browsing software, as these are quite in demand.
Investing in BitTorrent
The foremost question that arises in the mind of a person before investing in such assets is whether it is safe to invest in the same or not. The answer to the question lies in the fact that some of the investors regard BitTorrent as the biggest shitcoin! Just like other cryptocurrencies, BitTorrent enjoys the risk of the unpredicted rise and fall in the prices of the coin. It is suggested that the only amount that should be parked with BitTorrent should be that much affordable to be lost in the low times. Apart from that, the concise and intellectual knowledge of the user should be the other important thing before investing in the same.
