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Tron confirms the acquisition of BitTorrent, states to be the “largest decentralized Internet ecosystem in the world”

Simran Alphonso

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Tron confirms the acquisition of BitTorrent, states to be the "largest decentralized Internet ecosystem in the world"
Source: Flickr

On 23rd July, Tron finally confirmed the acquisition of BitTorrent and declared Tron to be the “largest decentralized Internet ecosystem in the world”. BitTorrent currently has an active user base of over 150 million. This software is now a part of the Tron family!

Justin Sun, the Co-founder of Tron tweeted:

“Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation …”

Bdeldy, a Twitterati commented:

“That’s a huge announcement. I look forward to July 30th. All those who doubt this project are blind and will be annoyed not to have invested early. @coinbase @GeminiDotCom You can already start the integration of #Tron $trx. You could potentially get millions of new customers!”

In a video released by Cheddar earlier this month, BitTorrent’s Co-founder Ashwin Navin exclaimed to sell it for $140 million to TRON Foundation. However, this acquisition was not confirmed by the Tron Foundation or Justin Sun [Tron Founder] until now.

The Tron community expressed to be “proud” as they officially announced the acquisition of “BitTorrent and all BitTorrent products.”

In 2001, the world saw the creation of BitTorrent protocol which is a file sharing communications protocol based on a peer-to-peer network. It is the world’s first decentralized internet protocol and has a wide range of global applications. BitTorrent at a point transmitted 40% of the daily internet’s traffic, the company had its ups and downs since its establishment 17 years ago. But today BitTorrent stands in the hands of Tron with the aim of further being developed, to decentralize the Web by promotions and advancement of BitTorrent’s protocol.

Tron in its Whitepaper states:

“TRON is a world-leading blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data.”

The BitTorrent procurement accelerates TRON’s “All-In Decentralization” methodology. TRON and BitTorrent share a similar vision for a decentralized Web. Tron believes that BitTorrent will turn to have a new life by emerging into Tron’s ecosystem, and that “TRON will continue with BitTorrent’s protocol legacy”.

This acquisition will combine the powers of the two, Tron’s US team will collaborate with the BitTorrent team as confirmed by Tron. They also stated that BitTorrent’s technical talent and experience in Decentralised technology will strengthen Tron’s ecosystem to the next level.



Justin Sun in the Medium page of Tron Foundation said:

“With the integration of BitTorrent, TRON aims to liberate the Internet from the stranglehold of large corporations, give data rights back to the individual, and reignite the early 21st century vision of a free, transparent, decentralized network to connect the world, because the internet belongs to the people.”

Tron’s convention allows its clients to distribute, store and claim information with no charge. The issuance, flow and exchanging of computerized assets through decentralized self-governance lays the foundation for the distribution and subscription of content. This empowers content creators and forms a decentralized content for entertainment.





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Altcoins

Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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