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BitTorrent is one of the best peer-to-peer (P2P) file-sharing communication protocols. It allows people to distribute data and digital files across the Internet through a decentralized network.
The decentralized manner of file sharing entails many benefits owing to the high level of privacy and security of the user. The amount of trust that BitTorrent has gathered over the years has resulted in non-stop growth since 2001.
One of the recent premium steps in the growth of BitTorrent was the release of BTFS Gateway v2.2 on 24th July 2023. The official Twitter account of BitTorrent announced that BTFS is coming with all new features that will intrigue the users.
BTFS Gateway v2.2: Advancements in Decentralized File Storage
The full form of BTFS stands for BitTorrent File System. It is a protocol and web application that serves as a foundation for decentralized applications, also known as Dapps, and offers a>Discovery: Users of BTFS Gateway can browse BTFS resources using CIDs and look for files using metadata such as tags, file names, and descriptions.
- Upload: Using the storage service Storage3, TronLink users can rapidly and cost-freely upload content to BTFS via the Gateway and then share it on a decentralized and censorship-restricted network.
- Metadata: With more metrics planned for inclusion in the future, BTFS Gateway now provides more comprehensive metadata of the uploaded material, including the size, file name, tags, and description.
The Significance of USDD Deployment on BTFS
As mentioned in the official Twitter account, USDD is the first of its kind and is a decentralized USD. From November 2022 to March 2023, USDD went through some significant lows, reaching around $0.97. However, in the following months, the crypto gained more stability, and it is currently around $1.
Here are the following advantages of USDD deployment on BTFS:
- Robust Storage: The BTFS system can efficiently distribute transaction data storage among different network nodes by deploying USDD. This ensures that the system will remain resilient to interruption or censorship at any given point.
- Enhanced Security: The technology behind BTFS uses consensus algorithms and cryptography akin to the Blockchain, which could increase its security against illegal access and data manipulation.
- Increased Accessibility: Users in areas with restricted access to conventional financial services or low internet connectivity can access USDD through peer-to-peer networks like BTFS.
The Journey of BitTorrent’s Growth
According to the BitTorrent price prediction, by the end of 2023, the value can reach up to $0.00000101. It is a 0.90% increase from the current rate of $0.000000472. The journey of BitTorrent seems to be exponential and inclusive of people from all around the world. The high level of security opened doors to more trustworthy file sharing.
The Future of BitTorrent’s Non-Stop Growth
The price prediction of BitTorrent by some experts for 2025 signifies that the crypto can trade between $0.00000109 and $0.00000157. The BTT price forecast also suggests that by 2030, the token will trade between $0.00000381 and $0.00000549. The crypto market may seem slightly gloomy due to volatility, but the long-term forecast for BitTorrent remains positive.
Conclusion
BitTorrent is gaining momentum and is expected to reach new heights in its market value. While the volatility of crypto is a major factor keeping many traders at bay, the future of BitTorrent seems to be of great value. Furthermore, the USDD deployment has caught much positive attention from Twitter users and is one of the main reasons for the new hype around BitTorrent.