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Tron [TRX] acquired uTorrent Web surpasses 1 million active users; Justin Sun announces the victory

Priyamvada Singh

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Tron [TRX] acquired uTorrent Web surpasses 1 million active users; Justin Sun announces the victory
Source: Pixabay

On 4th October, the Founder of Tron, Justin Sun and the popular sync and share software application for downloading torrent files, BitTorrent jointly announced that uTorrent Web has broken the record of 1 million daily active users. In Sun’s official tweet, he wrote:

“µTorrent Web already surpassed 1,000,000 daily active users! This new product officially launched a month ago offers a #streaming and torrenting experience. “

Meanwhile, BitTorrent also tweeted the announcement wherein it mentioned:

“Proud to announce that our Web-based torrent #streaming client, µTorrent Web, surpassed 1,000,000 daily active users. If you’re waiting for a BitTorrent Web, rest assured that it’s coming soon!”

BitTorrent was acquired by Justin Sun earlier this year in June. However, the discussions and rumors of Tron acquiring BitTorrent have been floating around the space since 2017. There is also a history between the two parties wherein Justin Sun sued BitTorrent over the violation of ‘no shop clause’ post which he pleaded the court to issue a restraining order against the company.

A no shop clause is a letter of intent that acts as an agreement between the owner and the buyer to block any further potential buyer from negotiating another deal for acquisition for that particular property.



About three months ago, Justin Sun also achieved huge adoption for his cryptocurrency when the adult website, Pornhub announced its support for TRX payments for its premium services.

$andman, a Twitter user and a cryptocurrency space enthusiast on the BitTorrent success story commented:

“Since your accomplishing major milestones daily, when will you focus on price a little?”$andman





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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