What is vTorrent (VTR)?
Future of VTR Cryptocurrency and know how to buy VTR

#1 What is vTorrent?

vTorrent: The Basics

  1. BitTorrent is popularly known globally, and the technology is almost synonymous with piracy, but there’s more to it. BitTorrent is a decentralized, peer-to-peer protocol that offers major advantages over many other data transfer protocols.
  2. This concept of decentralisation is of course, central to the idea of the blockchain as well. So how about a merger of the two? Check out vTorrent.
  3. At a glance, vTorrent resembles your regular BitTorrent client. It is being built around the popular and lightweight Transmission client, and will include all the BitTorrent features.

 

#2 What are the benefits of VTR?

vTorrent Technology

  1. To understand vTorrent, we need some background on the BitTorrent protocol itself. BitTorrent is a peer-to-peer content distribution protocol that facilitates a very efficient transfer of data between networks - especially those that are large in size. It does this by breaking these files into small, equal pieces before transmitting them.
  2. These pieces are then share across the network to multiple individuals, who then share it with the rest of the network as well. The protocol calls these individuals seeds. The result? Faster downloads and better bandwidth since pieces of the files can be downloaded from multiple sources and then put together on the receipent’s machine.
  3. vTorrent packs in a lot of additional features setting it apart from standard torrent clients, like:
    1. Paid Streaming and Downloading (PSD)
    2. Digital Wallet(s) — Full Node and Thin Wallet
    3. Cryptocurrency Trader Browsing and Storage Functionality
    4. Encrypted Chat and Anonymous Social Network
    5. Anonymous Transactions
    6. Decentralized Architecture
  4. To integrate this with cryptocurrencies, a micro-payment scheme needs to be created - so that individuals buying content online can make payments to all the seeds they download their files from. As vTorrent’s whitepaper states, “For this to to be practical, payments need to be small, fast, irreversible, and low fee”.
  5. To enable this, vTorrent integrates the blockchain with what it calls Payment Channels. Specifically, BOLT channels. “A payment channel allows a buyer to make a large number of small payments while only incurring the fees of two blockchain transactions. This method significantly lowers the total fee amount, reduces blockchain bloat, and ensures scaling in line with mainstream adoption.”.
  6. The advantage with BOLT channels is that the payments remain anonymous as well.

vTorrent Features

  1. The Paid Streaming and Downloading feature enables the exchange of digital content for payments in a peer-to-peer fashion over the BitTorrent protocol. Users will be free to exchange any content they desire to at prices of their choice using an anonymous cryptocurrency called VTR.
  2. Users will also be able to download or stream different pieces of the same content from several uploaders simultaneously, as well as reselling these pieces during this downloading process. Transactions will be cheap, anonymous, and secure. The main underlying technologies of PSD are the following:
    - The BitTorrent protocol
    - A Proof-of-stake (PoS) Zerocash blockchain
    - BOLT Payment Channels
  3. Currently, BitTorrent and crypto applications are spread across a number of different sites and services. This makes for a slow and cumbersome user experience, as well as demanding a certain level of knowledge about the crypto and BitTorrent domains. The result is high barriers to access and usage incompatible with mainstream adoption.
  4. By unifying these applications into one service, vTorrent wants to lower these barriers to enable the masses to join in. Its security and privacy features are built to protect users from thefts, privacy breaches and censorship.


#3 How to buy and store VTR?

How to buy VTR

  1. The easiest way to buy VTR is to use CoinSwitch, the largest cryptocurrency conversion platform. CoinSwitch aggregates rates across cryptocurrency exchanges all at one place, allowing users to pick and choose the most favorable rates for them.
  2. With CoinSwitch, you do not rely on a separate wallet from the exchange to store your VTR coins. Instead, all transactions happen to and from your own personal private wallets.

How to store VTR

vTorrent will provide two different wallets each sitting in their own client. The clients will be similar in every way except for their wallets.

  1. The Full Node Wallet: It requires a complete copy of the blockchain to be downloaded and synced, running such wallet assists in validating blockchain transactions. As a reward, up to 5% annual interest will be generated based on the VTR balance held by the user in this wallet. The interest is derived from the coin supply inflation and transaction fees. The process of validating transactions and receiving interest is called staking - it’s what the Proof of Stake algorithm is based on. It occurs automatically when the wallet is kept open and online. Due to these requirements, downloading the client housing in this wallet is a slow process and demands a lot of storage space. Not surprising then, that the client will not be compatible with mobile platforms, nor convenient for users who want quick and easy access to vTorrent.
  2. The Thin Wallet: It doesn’t require a copy of the blockchain to be downloaded and synced. Therefore, downloading the client housing this wallet is faster, and storage requirements will be low. However, running the wallet will not assist in validating transactions which means that no interest will be yielded. Due to the low storage requirements, the client housing this wallet will be compatible with mobile use and will be a good choice for everyday users who want fast and easy access to vTorrent, for both an iOS and Android users.

 

#4 What is the future of VTR?

  1. VTR launched on December 25, 2014 at $0.001449 and trades at $0.100844 as of July August 2018.
  2. This crypto started gaining momentum in June 2017 and saw its peak in Jan 2018, but has been on the decline ever since.
  3. It attained a $1.33 peak value and now stands at 7.5% of that number in August 2018. This could seem like an opportune moment to invest in this crypto.

Also Read: Complete Analysis of vTorrent | Live vTorrent (VTR) Price Charts And Predictions

Price History (YTD)

Date

Open

High

Low

Close

Volume

Market Cap

21 July 2018

0.100844

0.102211

0.099537

0.101873

87,227

1,170,267

1 July 2018

0.148761

0.177957

0.139838

0.156553

3,340

1,726,330

1 June 2018

0.343566

0.360485

0.336882

0.353058

6,642

3,986,992

1 May 2018

0.445962

0.445962

0.392277

0.434291

11,007

5,156,549

1 April 2018

0.226951

0.245946

0.212639

0.231667

5,035

2,613,839

1 Mar 2018

0.661521

0.757748

0.635377

0.708814

81,292

7,154,994

1 Feb 2018

0.616226

0.628010

0.448182

0.476853

25,259

6,665,075

1 Jan 2018

0.621330

0.688201

0.581534

0.648118

311,062

6,720,281

 

#5 How is VTR different from other cryptocurrencies?

  1. Since it is open source and decentralized, vTorrent makes for an ideal platform for third parties to build their streaming or downloading services on. It eliminates the costs and efforts involved in building such services from the bottom up. It essentially lowers the barriers to entry for small services and startups.
  2. Initially, most services built on vTorrent may include some centralized components, as they pose fewer challenges in development. However, eventually the plan is towards fully decentralized services, activities such as content curation and content discovery are outsourced to users through clever incentive-mechanisms powered by blockchain technology.
  3. vTorrent is also unique for being a cryptocurrency that merges two kinds of decentralised technologies into one - the BitTorrent protocol and the blockchain itself.

 

#6 Should you invest in VTR?

  1. VTR has been in the market since 2014 and has seen its share of volatility, just like any other crypto.
  2. Its price is at a low for the year and there seems to be a slight incline towards the end of the graph. This could a good sign for investors, as the price is still quite low and has the potential to go back to its precipice.
  3. Despite being in the market for so long it still doesn’t share the saturation faced by BTC or ETH, which could also be a point of concern.
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