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It is a utility token TRC-10, the standard technical token of the Tron blockchain, which seeks to promote faster speed in the world's largest decentralized application. For what it is understood, TRC-10 to Tron tokens are what ERC-20 tokens are to Ethereum.
As stated in the MTB technical document, there will be a total supply of 990 billion BTT. These will be distributed among BitTorrent Inc., torrent customer users, existing TRX holders, initial sponsors, investors, the BitTorrent Foundation and team and the Tron Foundation.