Connect with us

Altcoins

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

Simran Alphonso

Published

on

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.


Trending