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Tron [TRX]’s Justin Sun: BitTorrent benefits the whole cryptocurrency industry




Tron [TRX]'s Justin Sun: BitTorrent benefits the whole cryptocurrency industry
Source: Unsplash

Justin Sun, the CEO and Founder of Tron Foundation, elucidated on the new announcement regarding the BitTorrent token, BTT, and a gave a gist on the Tron ecosystem, during the recent live stream on Youtube.

BitTorrent has been the key highlight of the Tron community ever since the Foundation announced its acquisition in mid-2018. BitTorrent is a well-known software platform and has taken the place amongst as the biggest Torrent severing application. On several occasions, Sun has claimed that the Torrent platform and Tron are going to be the catalyst for the next bull run.

Additionally, well-known influencers of the space such as Charles Hoskinson, the Co-Founder of Ethereum and CEO of IOHK, and Satoshi Nakamoto, the creator of Bitcoin, have shown their interest in BitTorrent. Nakamoto had mentioned BitTorrent in one of his mailing lists, stating:

“For transferable proof of work tokens to have value, they must have monetary value. To have monetary value, they must be transferred within a large network – for example a file trading network akin to bittorrent.”

Soon after the announcement of the acquisition, Sun unveiled Project Atlas – an integration of BitTorrent and Tron, paving the path to make Satoshi’s saying a reality. The project was launched with the aim to improve BitTorrent’s protocol with the help of Tron protocol, thereby increasing its speed and lengthening the lifespan of BitTorrent swarms. To add on, rewards would be extending to peers sending torrents, thereby adding more resources to the ecosystem and Tron network playing the key role as it would serve as the online protocol for the project.

Earlier this week, Binance made a huge announcement pertaining to BitTorrent. The leading exchange platform revealed that Binance Launchpad would be serving as the gateway for the BitTorrent token [BTT] crowd safe. The announcement was shared by the BitTorrent team as well on their official Twitter handle, wherein they stated that more details pertaining to the news would be shared during Tron’s upcoming conference, niTron summit.

During the live stream, Sun gave a brief introduction on Tron and BitTorrent, which stated:

“Tron, as we all know, it’s a smart contract platform we provide infrastructure for the developers to develop their DApps on our platform. Currently Tron has already have more than 100 plus dApp run our platform. Also BitTorrent, as everybody know[s], is the largest p2p file transfer protocol in the world.”

This was followed by the Founder stating that the platform has over 100 million MAU and 25 million DAU around 138 countries, adding that this would be a “massive adoption” in the blockchain space. He went on to say that the Foundation would be opening the doors for huge volume to flow into the industry, adding that the current blockchain space population is around 10 million. He said:

“With BitTorrent itself, we can bring billions of the device into the industry that’s why I think it’s not only benefits the Tron society benefits the BitTorrent itself it’s also benefits the whole industry. Even some haters don’t like the BitTorrent we will also benefit them.”

Following this, Justin Knoll, the Project lead of Project Atlas, spoke about BitTorrent and its improvement since Tron’s acquisition. He said:

“We started investigating a system to add incentives to the BitTorrent protocol to enable longer swarm lifetimes and more seeds around a year ago. Then we as part of the acquisition we started to really go forward with that quickly it’s been about four months since we started hiring aggressively and starting to do the development really an earnest”

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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.


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