## What Is Bitlorrent Protocol (BLT)? Bitlorrent is a platform | Bitlorrent Announcement

## What Is Bitlorrent Protocol (BLT)?
Bitlorrent is a platform designed to make apps usable on the
web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade,
which aims to offer scalability and stable fees and payment solution of e-commerce industry.
BLT is the native utility token that is used for:
* Fees for processing transactions and storing data.
* Running validator nodes on the network via staking BLT tokens.
* Used for governance votes to determine how network resources are allocated.
BLT tools include:
* BLT SDKs which includes standard data structures and testing tools for Rust and
AssemblyScript.
* Gitpod for BLT to create a zero time onboarding experience for developers.
* BLT Wallet that lets application developers create streamlined user experiences.
* BLT Explorer to aid with both debugging of contracts and the understanding of network
performance.
* BLT Command Line Tools to allow developers to deploy applications from local
environments.
## How Many BLT Coins Are There in Circulation?
Bitlorrent Protocol launched its mainnet on April 22, 2021 with 97185000 BLT tokens created at
genesis. No additional supply is issued each year to support the network as epoch rewards, 30% of transaction fees are paid out as rebates to contracts which interact with a transaction, 5% for airdrop distribution.and 20% will be burned.
### Who Are the Founders of Bitlorrent Protocol?
Bitlorrent Protocol is the brainchild of CEO Whang Lee and Co-Founder Arashi Akhihitu, both of whom
have extensive experience in programming.
The two met while Skidanov worked at U.S. startup accelerator Y Combinator, and in July 2018
began work on a project which focused on allowing developers to build and release software
with less friction.
This project became what is now the BLT Protocol, and employs more than 40 staff, including
developers with experience at Google and MemSQL.
According to BLT Protocol’s official website, many of the developers hold prizes and
nominations from competitions in coding and related fields, notably the International Collegiate
Programming Contest (ICPC).
LEE himself worked at both MemSQL and Microsoft, while AREUM contributed to
end-to-end open source machine learning platform TensorFlow and Google Search.
### Where Can I Buy Bitlorrent Protocol (BLT)?
BLT is available for trading on a growing number of exchanges, with cryptocurrency and
stable coin, BLT/ BTC and BLT / USDT pairs currently
available.
Hotbit offer BLT/USDT pair in June
Also listed on Coinsbit with two pair, BLT/BTC and BLT/USDT