BitTorrent Holds Critical Bullish Support Following Coldstack Partnership

Long Beach (CoinChapter): On Monday a partnership was announced between BitTorrent and Coldstack. The partnership will allow Coldstack to bring the BitTorrent File System (BTFS) to the Coldstack ecosystem. It will also allow those participating with it to fully benefit from the advantages of BTFS.

BitTorrent utilizes the BTT token, allowing for the tokenizing of one of the largest decentralized file storage systems, BTFS. That token powers BitTorrent Speed, BitTorrent File System, DLive, and other currently unreleased programs.

The token has also maintained an important level since the announcement. BTT’s 20-day exponential moving average has remained largely remained above a certain level over the past year.

Staying above the 20-DMA mark has proven bullish for the Bittorrent token and that has remained the case since this Coldstack partnership which should prove beneficial to both sides.

BitTorrent File System is one of the first decentralized file storage system

BTFS is one of the first decentralized file storage systems, and provides a foundational platform for decentralized apps. It is both a protocol and network implementation, supported by millions of BitTorrent user nodes. BTFS provides a p2p mechanism for storing and sharing digital content in a decentralized filing system. It is a next-generation file-sharing protocol utilizing the TRON network and the BitTorrent ecosystem.

Coldstack meanwhile, is in the process of developing a Gateway Storage SDK. It will be entirely on-premise and open source, and could be used separately from the ColdStack dApp. BTFS will now become one of those decentralized storages. It will be supported by the Coldstack SDK in addition to STORJ, FileCoin, Lambda and other current and future storages.

This partnership between the two sides will benefit developers of DeFi and other decentralized services. It will do so by allowing them to use the unified S3 protocol to store and retrieve their files with BTFS. This would save time and effort as they can use the S3 SDK, which is familiar to them.

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