Tron CEO Justin Sun has announced the upcoming launch of BitTorrent’s latest testnet. Set for Monday, July 1st, Tron says the new file system protocol is a distributed web platform powered by blockchain technology. The crypto-based system rewards users with the BitTorrent (BTT) token in exchange for sharing files and enabling faster downloads.
The platform is billed as “the world’s largest blockchain application for speedy uploading and downloading of files.” BitTorrent reports an existing user base of more than 100 million and says the consumer platform currently drives 22% of upstream and 3% of downstream traffic globally as people share film, video, audio, software and digital files.
A variant of the InterPlanetary FileSystem (IPFS) protocol, BitTorrent Speed merges BitTorrent and blockchain. It will be available on July 8th.
“With BitTorrent Speed, we aim to strengthen the BitTorrent protocol and then deliver more features that inspire innovation across industries.”
Tron bought BitTorrent last year for more than $100 million. BitTorrent’s file system is part of Tron’s vision to grow a borderless internet where privacy and ownership are controlled by users and not corporate middlemen. The platform is expected to expand the Tron ecosystem since users will be able to earn crypto for sharing their hard drive space with Tron.