BitTorrent Token FAQ
Where can I buy BitTorrent Token?
What is BitTorrent Token?
Tokenizing the world’s largest decentralized file sharing protocol with BTT
BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline.
Where can i use BitTorrent Token?
With BitTorrent Speed
Get faster download speeds and BTT token rewards.
BitTorrent Speed is available as a feature of BitTorrent and µTorrent Web, as well as µTorrent Classic.
With BitTorrent Speed enabled, downloaders will have the option of providing tokens to uploaders in exchange for faster download speed. By introducing an incentive of earning BTT tokens, uploaders have a reason to seed files longer, and to dedicate more of their bandwidth and storage to other torrent clients in the network. BTT, which serves as a crypto torrent token in BitTorrent Speed, is responsible for powering a healthier BitTorrent protocol.
What is BitTorrent Filesystem?
BTFS is both a protocol and network implementation that provides a p2p mechanism for storing and sharing digital content in a decentralized filing system.
Traditional file storage systems have many disadvantages, including centralization or control by a single entity, the ability for governments to censor, higher costs, and low fault tolerance.
BTFS is a decentralized file storage system supported by millions of BitTorrent user nodes.* By running on the blockchain, which has a Delegated proof of Stake method of processing blockchain transactions, BTFS addresses these limitations. BTFS represents the first decentralized storage system that can be used by decentralized application (DApp) developers. Soon, BTT will be introduced into the BTFS ecosystem to incentivize a fair and abundant file system.
BitTorrent File System
How does BTFS differ from IPFS?
BTFS is a fork of IPFS. However, BTFS hosts a variety of unique features. For example, BTFS has native support for both file removal and file encryption/decryption. This allows users to easily remove illegal or copyrighted material on their nodes as well as securely transfer and store files. BTFS is also uniquely integrated with the TRON blockchain, as users can initiate nodes via wallets that support TRON.
Can I store files onto the BTFS network?
Users can upload files to the BTFS network via a BTFS daemon. When non-pinned files are stored in cache, they remain stored until either the node stops running or the stored amount exceeds the garbage collection limit. Files are duplicated when they are requested by another BTFS node.
How do I connect to the BTFS network?
Interested users can connect to BTFS by installing a node. Future plans including packaging BTFS with the BT Client, so that BT Client users will have the option of installing and starting a BTFS Daemon. Once launched, the BTFS daemon connects to the network via the bootstrap nodes, deployed on instances across the world.
Is BTFS a file storage or file transfer system?
Both. BTFS is a file system encompassing the dual nature of storage and transfer. Users can ensure some storage persistency by pinning their files to their BTFS nodes. When other nodes in the network request the file, that file duplicates via the requesting nodes. BTFS also allows the efficient and secure transfer of files between nodes located across regions. This makes BTFS an ideal choice in file transfer.
How does transferring files using BTFS compare to other services?
While the file transfer performance of using BTFS is comparable to other centralized services, BTFS has the added guarantee of secure P2P transfers. Centralized file storage repositories could potentially be compromised, leading to confidential files being exposed, stolen, or corrupted.
Where can I find documentation on BTFS APIs?
You can find the BTFS developer’s documentation at docs.btfs.io. There, you will find comprehensive API references, daemon setup instructions, common operations, BTFS features, and command line interface commands.
How can I disable BTFS?
If enabled, BTFS can be disabled at any time via the BT Client by going to Options → Preferences, un-checking the Enable BTFS box, and hitting ‘Apply’. Alternatively, shutting down the BT Client also shuts down BTFS.
How can I clear BTFS cache?
You can clear your BTFS cache by deleting the file blocks located under the directory C: → Users → btfs → .btfs → blocks.
How does BTFS use resources?
As with any running process, BTFS requires some resource usage. Due to the nature of DHT requests, there may be some moderate memory usage. If you wish to reset the memory usage, you can reset BTFS via the Preferences dialog by disabling and then enabling it. Additionally the DHT network requests may cause mild bandwidth usage increase.
How can I remove the BTFS binary?
There are two ways to remove the BTFS binary. Manually remove the binary by removing the file contents of C: → Users → btfs → AppData → Roaming → BitTorrent → btfs. Alternatively, completely uninstalling the BitTorrent Client will automatically remove the BTFS binary as well.
BTT Token Integration
How can I earn BTT?
Users are able to earn BTT immediately by simply running a BTFS node. Refer to instructions on running a BTFS file host node.
What is BTT?
BitTorrent Inc. introduced a TRON TRC-10 cryptographic token called BitTorrent Token (BTT). BTT acts as a general purpose mechanism for transacting in computing resources shared between BitTorrent clients and a liquid market of service requesters and service providers. BTT is the unit denominating transactions for the provision of services in the BTT-enabled BitTorrent ecosystem. BTT is available as a divisible token, allowing for granular pricing. Adding a BTT token extends the familiar protocol to create a token-based economy for network resources, bandwidth, and storage resources on an existing BitTorrent network, giving network members the opportunity to appreciate the value of bandwidth and storage sharing.
Can I find out what files are being stored on my hard drive?
When BTFS uploads a file to the network, the files are broken into blocks of max 256 KB size. As a host, you will only store a few blocks of a file. This way, no host can piece together any file from the blocks stored on their drive. Additionally, hosts are unable to view a file unless they happen to have all the blocks corresponding to a file, so it would be impossible for them to view even the partial file.
How do I store files?
Currently, users can rent space on the BTFS network via the command line. Refer to instructions on storing files on the BTFS network.
When adding a file via BTFS, the files are broken into blocks and arranged in a tree-like structure using `link nodes` to tie them together. A file’s hash value is essentially the hash of the root node in the Merkle DAG.
Content Identifiers (CID)
A label used to point to material in BTFS. The content identifier (CID) does not indicate the content location. Rather, it is hashed from the bytecode of the partitioned file.
Distributed Hash Table (DHT)
A distributed key-value pair mapping that BTFS queries to locate specified CIDs.
Elliptic Curve Digital Signature Algorithm is a variant of the Digital Signature Algorithm which uses elliptic curve cryptography.
IPLD stands for Interplanetary Linked Data. After an uploaded file has been broken into 256 kB chunks, each chunk is then hashed. IPLD is the template for linking all the data chunks which constitute a file.
Merkle DAG refers to Merkle directed acyclic graph.
BTFS allows for a wide array of flexible protocols to future-proof for changes in the system. Multihash, multiaddr, multibase, multicodec, and other protocols allow BTFS to adapt to changes in hashing algorithms, codecs, and other libraries.
Mutable File System (MFS)
The Mutable File System (MFS) is a tool that allows users to treat files like a normal name-based filesystem. Users can add, remove, move, and edit MFS files.
Pinning ensures objects are stored in the node’s local storage. This helps to persist files.
Torrents and uTorrent client
What is torrenting?
Torrenting is is a popular method of file-sharing protocol based on peer-to-peer (P2P) technology. It allows large numbers of users to connect and share content without having to rely on a single source for downloads. Its estimated 3.35% of all internet traffic is handled by BitTorrent, bringing the total number of monthly users to over 250 million!
Are torrents illegal?
A torrent client is like a web browser. Just as you can use a web browser to access any website on the internet, you can use a torrent client to download any torrent. Both web browsers and torrent clients are legal technologies.
How can I start torrenting?
- You can find torrent links on the Internet by searching in one of numerous open and private torrent catalogs. Download a .torrent file and drag-n-drop it to μTorrent client. Upon adding, you will see the information about the content you want to download. Once the file has been added, you will be able to see your download progress.2. You can share your content by creating your own torrent link and sharing it with friends or via social media. To make the torrent file, click on File > Create torrent in μTorrent. A more detailed guideline can be found here.
Is uTorrent safe?
μTorrent is the official torrent client from the creators of the BitTorrent protocol. It is proprietary (not open-source) software maintained by a legal US company. Like BitTorrent, the software itself is legal, although it can be used for piracy. The official μTorrent is free of malware and can be used safely and privately in combination with a VPN. It does not, however, prevent users from downloading malicious files that can infect their device.
How can I start seeding?
- It’s simple! Just don’t delete the file from μTorrent client after the download is complete. The longer you stay seeding, the higher your chances of being rewarded with BTT.2. You start seeding immediately if you create and share your own torrent file. A more detailed guideline to creating torrents is here.
How can I spot fake torrent files?
Unfortunately, there are vandals, thieves, and scammers out there who use phony torrent files to put malware on your computer. By disguising their nasty software as attractive downloads, these scammers try to trick you into installing their stuff. Watch for RAR files, WMV files, and password-protected files, which are just some of the ways torrent files are faked.
Do I have to pay to use μTorrent?
No. Both torrent network and classic μTorrent are free to use. Though you might want to try Ad-Free or Pro versions of the client.
Which Operating Systems are currently supported by BitTorrent Speed?
As for now, BitTorrent Speed is only integrated with μTorrent client for Windows™. BitTorrent Speed is compatible with Windows™ versions 7, 8, 8.1, and 10.
What should I do to get BitTorrent Speed added to my μTorrent client?
Once you have μTorrent client for Windows installed, everything should happen automatically. It might take some time for the application to be downloaded, verified, and installed, so please be patient. After BitTorrent Speed is installed, you will see the item in the navigation menu.
My antivirus software is detecting the μtorrent install as malware. What should I do?
Antivirus companies are going beyond detecting viruses and malware and into categories of “potentially unwanted programs” they feel you may not want even though they aren’t dangerous. Note that it is not our clients themselves that are flagged under either category, but occasionally our partner install offers that are flagged in this “potentially unwanted program” category.
Please note that absolutely nothing is installed on your system without your consent during the installation. We suggest rejecting any partner offers you don’t want installed on uTorrent adding an exception or temporarily disabling the antivirus software until you have completed your installation
What changes in my regular μTorrent experience with Speed?
The overall torrenting experience will not be changed. The only difference will be an increase in download speed if you decide to use BitTorrent Speed!
How can I control whether or not my client uses BitTorrent Speed?
BitTorrent Speed is enabled by default for all μTorrent users. There is an option to turn it off: go to Options ⟩ Preferences ⟩ Bittorrent ⟩ Uncheck Enable Protocol enhancements ⟩ Apply
Is mining involved with BitTorrent Speed?
No. BitTorrent Speed is based on pure exchange of BTT tokens between users without any intermediators. There are only ways for users to get BTT tokens: Earn for seeding Buy on any decentralized exchange service and transfer to BitTorrent Wallet.
Find more information in the Wallet section.
Can I control whether or not my client spends BTT?
Yes, you can set up where you can earn but not spend. To do that, simply turn “Speed Increase” toggle into the “Off” state. Your ability to download won’t be impacted, but there will be no increase in speed.
Can I completely run out of BTT?
Yes, your balance may run out if you’ve spent all your BTT for faster downloads. You may replenish your balance by seeding and earning or by transferring BTT into BitTorrent Wallet.
How much does each person earn for seeding?
Earnings depend on a variety of factors such as the demand for the file and network connection.
Why is the speed on the μTorrent client different from the speed displayed on BitTorrent Speed?
The speed on μTorrent client reflects a count of download speeds for all the files, while BitTorrent Speed only shows stats for the downloads where token exchange is involved.
Is there a daily limit for the number of uploads or downloads in a day?
There is no such limit. The more actively you seed, the more chances of earning BTT you get.
What can I do if I lost my Wallet password?
First of all, we are sorry to hear that. So far, there is no password restoration mechanism in a place, so we strongly recommend that users remember or write down passwords and keep them in a safe space.The only way to get access to BitTorrent Speed again is to install it from scratch. This is going to be a new wallet, so all the assets will be reset to their initial state. If you want to take this path, please uninstall uTorrent, then get to %AppData% → Roaming → uTorrent and delete all files that are left. Then, do the same with the helper folder.
BitTorrent Speed has a red cross icon next to it and doesn’t launch on click. What can I do?
There are multiple reasons why this may happen: Windows configuration, permissions, interrupted installation process, etc. The easiest solution is to re-install uTorrent client with BitTorrent Speed. Complete all downloads Uninstall uTorrent Open File Explorer and type in %AppData%\Roaming\ Delete uTorrent folder Go to %AppData%\Local\ and delete BitTorrent Helper folder Install uTorrent Client from scratch
Feel free to use the contact form on the website if your problem was not solved by the information above.
What happens when I switch the Speed Increase toggle off?
When the toggle is off, your wallet becomes expelled from participation in auctions for the most high-demand pieces of content, and your download or waiting time will be longer than with the Speed Increase feature. Switching off Speed Increase doesn’t affect your ability to earn BTT for seeding.
Why am I seeing in-application balance decreasing after I switched the toggle off?
You might see the balance changing within 24 hours after switching the Speed Increase toggle off. This happens because, when you bid on a piece of data, your BTT go to escrow first and stay there until you complete downloading the piece or until 24 hours passed – whichever comes first. If the piece was successfully downloaded, your bid goes to the seeder. If download was not complete, BTT from escrow will be transferred back to your balance.
What can I do to prevent other people from hacking into my account?
Please note that, while we employ the highest level of security measures to protect your wallet assets, holding hot (online) cryptoassets is not without risk. You are strongly advised to protect your device with adequate security measures at all times. Such measures include an access password, PIN, and biometric verification when logging in (among others).Here are a few simple tips for your wallet protection: Be careful about where you go online when you’re using a device that has a wallet on it. Dangerous websites and risky Wi-Fi networks put your wallet at risk. At the same time, do not leave your device unattended or lend it to anyone. Phishing scams through ads and through email are rampant in the crypto world. Phishing scams are becoming more and more elaborate, so make sure email received from wallet companies have their domain spelled correctly and never look for their web address clicking on ads. Once you send a phishing website your private key, you can say goodbye to your funds. It’s important to double check the address to which you send any payment transaction. There are malicious programs that can edit a “copy and paste” procedure in order to paste a different address, and that new address belongs to an attacker. It’s usually best to send a micro payment as a verification and then send the larger payment to the verified address.
How can I withdraw and deposit?
Please follow these step-by-step instructions to easily fulfill your balance or move BTT from BitTorrent Speed to a blockchain wallet.
Can I withdraw BTT from my BitTorrent Wallet to other cryptocurrency wallets?
No, not in this beta version currently. This feature is a priority and is coming soon.
How do I get a TRON wallet?
Go to TRON website and install any TRX-supporting wallet from the catalog. Create an account (it‘s free!). After logging in, you will be able to transfer BTT from and to your TRON wallet. Don’t forget to secure it!
Recovery Phrase Update
What is this update, and where do I get it?
As part of the Version 1.1.0 release of BitTorrent Speed, we are including an update that is designed to create a more seamless user experience by making the recovery phrase fully compatible with the TRON blockchain protocol. Simply log on to BitTorrent Speed and follow the instructions before you restart your wallet. Once your wallet restarts, the update will be completed.
Why am I getting a recovery phrase in this product update?
The recovery phrase is a safer and easier method for restoring a cryptocurrency wallet compared to the private key.
How will the update affect my digital assets?
Your balances will not be affected. However, we suggest that you save both the old set of private and public keys and the recovery phrase to avoid losing access.
Do I still have access to the old wallet that is connected to the old set of keys? Can I still restore the wallet and withdraw funds?
Your access to the wallet with the old set of keys will still remain as long as you keep the old keys in a safe place to which only you have access. We are unable to retrieve your old keys once the update is finished. We suggest our users save their old keys as well as their new recovery phrase to avoid losing access to their assets on the blockchain. If you have any questions, please contact support at email@example.com
A type of distributed, decentralized public ledger comprised of a sequence of blocks (digital information) stored in a chain (database). Three types of digital information are stored in each block: transaction information, transaction participation information, and information that uniquely identifies the block.
A unit of accounting that is used to represent the digital balance of an asset. Represents a particular fungible and tradable asset or a utility that is often found on a blockchain. The ownership of a token is evidenced through cryptographic mechanisms. Tokens are the fuel of a network, used to reward stakeholders for network services and make the network attack resistant. Cryptographic tokens are tradable and transferrable among the various participants of the blockchain. All cryptocurrencies are cryptographic tokens, but not all cryptographic tokens are cryptocurrencies.
A future iteration of web technology in which all computers both request and provide services; in other words, services are distributed, not localized. The decentralized web is an application of the principles of peer-to-peer networking to websites and web applications. The decentralized web has five components of services: computation, file storage, external data, monetization, and payments. Information is identified based on its content rather than its location on a server.
An infohash is a unique “fingerprint” of data. It is used to prove the validity of a file and to locate other peers in a swarm.
Any computer running a BitTorrent client to which other clients can connect and transfer data. Most peers have only part of the target file. As each peer downloads a new piece of a file, it can then upload the piece to other peers.
AKA Seed Phrase, Mnemonic Phrase. A multi-word phrase (For example, something like “correct-horse-staple-battery…”) which allows a user to recover a lost private key or recover a private key in the case of a forgotten password. This phrase maps directly to the key; no password or connection to the cloud is required if a user (or attacker) has this phrase. Users are encouraged to write these down and hide them in a secure physical location. This is the last line of defense against losing your private key.
A subset of peers that has a complete copy of a file. Seeds no longer download; they only upload.
A network of peers that are all trying to download the same file. Each peer in a swarm has anywhere from none of the file to the entire file. They are all uploading, downloading, or both to each other simultaneously. A swarm is joined when a client loads a torrent file.
A small file with the extension .torrent that contains information about the file, its length, name, hashing information, and the location of a tracker. To start sharing a file, a user uploads a torrent to a server. It can then be downloaded by users from torrent websites.
A server that helps peers find each other. A tracker maintains information about each torrent client using each torrent, and coordinates the transfer of files among users; it does not have a copy of the file being shared, and it does not host torrents.
A password which serves to locally decrypt a private key stored on a user’s disk. The password should be kept in secret because anyone who gains access to the device can retrieve the private key and steal the wallet’s funds.
Wallet’s Private Key
The private key associated with a wallet. This must be kept strictly secret; anyone who has this key controls all funds stored on the blockchain by the wallet.
Wallet’s Public Key
The public key associated with a wallet. This can be published. It is effectively the same thing as the wallet ID. Knowing it allows anyone to inspect a history of transactions on the chain or send coins or tokens to its owner.
Recommended VPN Services to bypass limitations on some exchanges
How to calculate TAX?
You can use Koinly to calculate TAX