vTorrent is the world’s first open-source, decentralised project which combines cryptocurrency and torrents. It uses a peer-to-peer technology where p
vTorrent is the world’s first open-source, decentralised project which combines cryptocurrency and torrents. It uses a peer-to-peer technology where people can download and share files remaining completely anonymous. vTorrent is a fully distributed network with no central authority in control of it. Its users have free access to files and even get rewarded for uploading. With the growing copyright awareness along with the increasing regulations regarding piracy, consumers are searching for different, more secure ways of sharing digital content. vTorrent provides great value for pirates because it offers them a network where they can safely access a wide variety of torrents and even benefit from that.
vTorrent was launched in December 2014 as a combination of crypto and torrents with blockchain as its core. The project incorporates BitTorrent client into the vTorrent wallet thus appealing to the tens of millions of torrent seekers. vTorrent has a maximum total supply of 20 million coins and 3% of them being mined beforehand. On its distributed network users are protected and cannot be traced by Internet service providers. People’s identity is hidden and they cannot be charged for using the platform. What is more, uploaders can even earn coins for sharing content with others.
Although vTorrent seems like the next platform designed for pirates who want to escape the law, it may turn out to be a lot more than that. Projects like vTorrent have a huge potential of becoming widespread and eventually help popularise cryptocurrencies and their mass adoption. There are also other platforms that attempt to provide similar possibilities like JoyStream, ThePirateBayCoin and Darkleaks. Though it may seem strange, vTorrent can benefit not only consumers but also creators and copyright holders. Crypto torrents can offer filmmakers a fast worldwide distribution of their work and zero censorship.
In a matter of fact, a decentralised network can be utilised to connect film right holders and consumers. Producers have figured out a whole new business model by which they can make use of pirates instead of taking them to court. Much like affiliate, torrent seeders can be used as paid distributors of files over the Internet. Information on whether customers have purchased a certain file can be sent easily over the blockchain. The seeder will receive a small fee for each transaction and producers will enjoy a much quicker and cheaper popularity. This can benefit the film market because the marketing and distribution costs are close to nothing compared to the current way the industry works. “Share with freedom” is the slogan of vTorrent which will hopefully become the slogan of the movie business and the Internet as a whole.