Connect with us

Altcoins

Tron [TRX]’s Justin Sun on the problem with BitTorrent protocol, says “everybody is seeding on good will”

Namrata Shukla

Published

on

Tron [TRX]'s Justin Sun talked about the problem with BitTorrent protocol, says "everybody is seeding on good will"
Source: Pixabay

The cryptocurrency market has been fighting the bear since the beginning of the new year. However, the only coin that has been performing well amidst the bear attack is Tron [TRX]. The coin has been soaring high amidst the ravaging bear and has managed to achieve many small goals set by the community for their preferred coin. At the time of press, Tron that was once the tenth largest coin on the CoinMarketCap list has moved up the ladder to become the eighth largest coin.

Tron foundation’s Chief Executive Officer [CEO] and founder, Justin Sun informed that Tron’s transactions have reached 2000 TPS which is 200 times more than eCRM, in an interview with CNBC. The host quizzed Sun, saying the organization achieves this speed by using Proof-of-stake, which is similar to EOS’s model, which was questioned largely by the critics over compromising on decentralization and Tron has 27 validators, to which Sun said the word decentralization needs to be defined first.

According to Sun, Decentralization is not something that is controlled by a single party as for Tron, the 27 validators have equal rights and are elected by the people. Sun also clarified that like any other authority, even the validators can approve the nodes or even who runs for the elections. Sun said that there is “no-entry barrier, which is different from EOS”.

The founder also discussed Tron-based BitTorrent token [BTT] that will be integrated with the popular file-sharing platform BitTorrent tomorrow, and the users will be awarded for sharing files. In the interview, Sun confirmed that he has paid $140 million for the peer-to-peer sharing platform and also talked about the future of BitTorrent. Sun Said:

“BitTorrent has been around since 2003. This is a very successful P2P network responsible for P2P file sharing. At the same time, it has more than 100 million active users around the world – basically, monthly active users.”

Sun talked about the problem with the BitTorrent protocol is that people are seeding on good will. He added:

“So there’s no reward for the seeding at all. So with lots of the software that uses the BitTorrent protocol, it actually helps you to disable the uploading when you’ve finished downloading. So that’s why we want to provide this new way with tokens to incentivize people who are seeding the files.”

Sun, when asked about the possibility of Tron blockchain to handle all the transactions required to incentivize users on BitTorrent, said that the foundation is creating a payment network side-chain that will process thousands of micro-transactions and will late record these transactions on the Tron blockchain.

Advertisement
Advertisement

Trending

Subscribe to AMBCrypto's Newsletter