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Tron [TRX] community concerned over the execution of Project Atlas

Priya

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Tron [TRX] community concerned over the BitTorrent plan laid down by the Foundation
Source: Unsplash

Tron [TRX] became the most controversial coin in the market because of the acquisition of BitTorrent, one of the biggest Torrent platform in the world. The rumors of the speculation were going on in the market since September 2017, which was confirmed by both the parties a few months back.

The acquisition led to Tron becoming the largest decentralized ecosystem in the world. Ever since its inception, Tron has been working towards Decentralizing the Internet and BitTorrent has also been working with a similar idea, Democratize the Internet.

Justin Sun, the Founder and CEO of Tron Foundation, during the launch of the beta version of Tron Virtual Machine, announced that BitTorrent would be integrated with Tron and unveiled Project Atlas. New information regarding the project was announced during the TVM launch.

According to the Founder, the integration is going to add on to the global payment and settlement of the online content. For this, an inclined token and a custom token will be introduced, this is also going to eradicate the limitations of BitTorrent.

In addition, users are going to earn token for uploading content on the platform and incentivize them to continue seeding even after the completion of the download. The CEO of the Foundation stated that there would be no mining activities involved in the project and that the users will have to use only the tokens which are provided by the platform.

While a part of the community is rejoicing stating that BitTorrent is going to become the next Netflix, a part of the community is concerned over the execution of the plan.

The main reason for this is the possible lawsuits against the Foundation in the future. This is because most of the available content is pirated on BitTorrent. If there is value added to the pirated content, then it would draw the attention of all the intellectual property owners. This would in a way pave a path for innumerable lawsuits.

1117777111, a Redditor said:

“BitTorrent got away with a lot because there were no financial transactions taking place – made it difficult to really justify court orders and targeted legal action. As soon as you add a value transaction to piracy it would become one of the biggest targets of intellectual property lawsuits the piracy space has ever seen”

The Redditor further adds:



“This acquisition is interesting and all, but it also concerns me that they have no idea what they’ve gotten themselves into. These organizations have more than enough power to shut down Tron Foundation activities in many countries if they don’t do this properly.”

Welcometotheregime said:

“While torrents are widely used for illegal content, it’s also used by open source companies to distribute large files and reduce their operational expenses. Yes, there may be illegal content on torrent networks, but this has nothing to do with Tron or their plan to integrate.”

The Reddit user further adds:

“It may be possible that it’s used for something illegal, the legal aspect will likely far outweigh the illegal and it will be akin to the internet with good and bad and memes. Except this would be a distributed internet where you cannot block the memes.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

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

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