BitTorrent Token Sale Lights Up Crypto Market
The BitTorrent (BTT) token sale will be remembered as the quickest token sale in the history of budding sector of crowd funding using cryptocurrencies.
According to Changpeng Zhao, CEO of popular cryptocurrency exchange Binance, the token sale was completed in a record time of 18 minutes, but could have been much earlier if the servers were able to handle the work load.
An overwhelming response from investors caused an overload on Binance servers.
This was highlighted by Changpeng Zhao through a tweet in which he said the demand was astronomical.
Regarding server overload, through a tweet, Changpeng Zhao explained as follows:
“Damn, no matter how much you prepare, still have bottleneck issues. Even the caching of caching was over loaded. Still under estimated demand.”
Furthermore, Changpeng Zhao expressed regret to investors who had a tough time accessing the platform (Launchpad facility).
Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.
— CZ Binance (@cz_binance) January 28, 2019
“Sorry for the overloaded experience. And thank you for your support! Some issues, will fix for the next one.”
The BTT token issue turned out to be a success mainly due to huge demand from retail investors. The incident once again proves that there is a growing interest in blockchain technology and cryptocurrencies, despite a bearish market.
Both Tron Foundation and its founder Justin Sun have hinted that an airdrop may be arranged to pacify investors who missed out the opportunity and others Tron token holders who did not participated in the token sale. The airdrop will be completed by Binance in partnership with BitTorrent. The tweet in this regard can be seen below:
“I would like to explore the possibility with @binance to giveaway free $BTT to everyone on launchpad fails to get #BTT today. #BitTorrent community wants you! Not 100% guarantee. Need to figure out detail. BUT RT if you agree! @cz_binance #TRON $BNB $TRX”
I would like to explore the possibility with @binance to giveaway free $BTT to everyone on launchpad fails to get #BTT today. #BitTorrent community wants you! Not 100% guarantee. Need to figure out detail. BUT RT if you agree! @cz_binance #TRON $BNB $TRX
— Justin Sun (@justinsuntron) January 28, 2019
Investors should be aware that there are numerous messages circulated by dubious websites and other individuals who claim to offer BTT tokens. In this regard, BitTorrent team has already issued a warning message about such fraudulent websites.
It should be noted that swindlers try to take advantage of demand in all categories of products and is not restricted to cryptocurrencies. Investors believe that great future awaits BitTorrent platform and BTT in P2P file sharing service. This has lured scammers who are trying to capitalize on the token sale.
BitTorrent has issued the following warning:
“We are actively working on taking down those fraudulent platforms and wanted to warn you about the risk related to participating in their initiatives that might result in the potential loss of your funds. Please keep in mind that neither the TRON Foundation, BitTorrent uTorrent or Justin Sun will ever ask you to send any token in exchange of eventual BitTorrent (BTT).”
AuthorKelly Cromley
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.
