A public sale of 59.8 billion BitTorrent Tokens (BTT), worth roughly $7.2 million, sold out in a matter of minutes on the Binance Launchpad. Even in the bear market of January 2019! Binance CEO and founder Changpeng Zhao tweeted the sale could have ended in just seconds if not for technical issues with the Launchpad platform.
“BitTorrent will be the largest application on the TRON network, which will allow TRON to surpass Ethereum on daily transactions and become the most influential public blockchain in the world.” (c)
Now that we know the goal Justin Sun, the founder of TRON (TRX), is possibly aiming at, we can start making assumptions about the reasons for the BitTorrent airdrop.
But one thing at a time.
Who is airdropping what and how can you claim free crypto?
The mechanics of the airdrop
The very first BTT airdrop is about to take place when the TRON network’s block height achieves 6.6 million.
When it happens, the TRON team will take a snapshot of their blockchain.
After that, the total of 10,890,000,000 BTT will land in users’ TRX wallets.
February 11, 2019 is reported to be the date of distribution.
The list of exchanges and wallets supporting BTT airdrop is updated regularly, so go to the BitTorrent site to stay tuned.
It’s interesting to note, though, that this February airdrop will not be limited to a one-time event.
Over the next several years, BitTorrent will be distributing a certain amount of BTT tokens to TRX wallets on the regular basis.
BitTorrent (BTT) airdrop timeline:
February 11, 2019
Initial airdrop of 10,890,000,000 BTT
March 11, 2019 — February 11, 2020
Amount of BTT airdropped on the 11th of each month: 990,000,000
March 11, 2020 — February 11, 2021
Amount of BTT airdropped on the 11th of each month: 1,072,500,000
March 11, 2021 — February 11, 2022
Amount of BTT airdropped on the 11th of each month: 1,155,000,000
March 11, 2022 — February 11, 2023
Amount of BTT airdropped on the 11th of each month: 1,237,500,000
March 11, 2023 — February 11, 2024
Amount of BTT airdropped on the 11th of each month: 1,320,000,000
March 11, 2024 — February 11, 2025
Amount of BTT airdropped on the 11th of each month: 1,402,500,000
That being said, starting March, 2019 up to February 11, 2020, all TRX wallets holders will be landing 990,000,000 BTT on the 11th of each month.
And after that, the amount of airdropped coins will even increase.
But if you still don’t understand which project is airdropping – TRON or BitTorrent, read on.
Why is it necessary to have a TRX wallet to airdrop BTT?
That’s an interesting question, thank you very much.
And the answer to it might be rooted in July 2018 when the founder of TRON acquired BitTorrent.
Tellingly, before the acquisition in July, BitTorrent had approached several blockchain projects about the possible acquisition.
Yet, only TRON managed to seal the deal.
More interestingly, this acquisition turned out to become the beginning of the story.
What appeared to be just a smart investment, later started looking like a small piece of the big jigsaw puzzle.
One month after the aquisition, in August 2018, the world learnt about the Project Atlas.
To make the long story short, the project connected the BitTorrent peer-to-peer network and its 100 million monthly active users to the TRON blockchain.
The key update in this new “Atlas” version of the BitTorrent client was this feature that allowed users to bid or earn tokens for seeding.
These were the TRC-10 – tokens, the native tokens of the TRON blockchain.
That of course explains why you need a TRX wallet for the BTT airdrop. Because the BTT token is built on the standard (TRC-10) which is native to the TRON network.
— Gee, Brain, what are we gonna do tonight? — The same thing we do every night, Pinky. We’ll try to take over the world!
So if somebody decides to connect the dots, they might assume that it was Justin Sun’s plan from the very beginning.
To acquire one of the most populated network on the Internet, first, and tokenize it with the TRON blockchain, then.
But even if it is so, the question remains: will Justin Sun’s network be able to handle the transactional volume required to tokenize the BitTorrent ecosystem? Some people have doubts.
So, what if they are right?
What if the TRON blockchain doesn’t allow for necessary throughput and scalability required by BitTorrent?
Ironically, to get out of this situation somehow, the TRON team might want to build a new token on top of Ethereum – one of the largest blockchains in the world.
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