Bitrazzi
Bitcoin, Cryptocurrency And Blockchain News

Tron Acquires BitTorrent, Becomes the ‘Largest Decentralized Internet Ecosystem’

0

Tron has announced that it has acquired peer-to-peer file sharing service BitTorrent. According to a blog post published by Tron founder Justin Sun, both the companies shared a similar vision, which is why it was an easy decision for them to collaborate.

Sun explained that BitTorrent has always been considered the pioneer in decentralized protocol. “Even today, the BitTorrent protocol retains its status as the world’s largest decentralized protocol, once transmitting 40% of daily Internet traffic. BitTorrent created and shaped the protocol, with 70% of BitTorrent users using the product. The company aims to decentralize the Web by promoting and further developing the BitTorrent protocol,” wrote Sun.

Sun concluded the announcement by promising users that they will be able to use the Internet without corporate intermediaries in the near future. Their collaboration will “reignite the early 21st century vision of a free, transparent, decentralized network to connect the world, because the internet belongs to the people.”

Last month, Tron celebrated its Independence Day – when the genesis block was created. After launching TestNet in March 2018, Tron also launched its MainNet on May 2018.

TRX, the official token of the platform, is number 11 on the top cryptocurrency list on CoinMarket Cap. It is worth $0.037 and has a market capitalization of $2 billion. Similar to other cryptocurrencies, TRX reached its peak in January of this year – it was valued at $0.25. However, the victory was short-lived; and it dropped in price within a few days.

Tron still has one big surprise left for its users though: the Tron Virtual Machine (TVM). Sun explained that the secret will be revealed at the end of July. The official website also shows a countdown, which shows that the TVM will go live on July 30th. TVM is designed specifically for Tron’s ecosystem and is “aimed at providing millions of global developers with custom-built blockchain system which is efficient, convenient, stable, secure and scalable.”

Image Credit: Deposit Photos

Comments