TRON News: TRON’s CEO Justing Sun is nothing if not bullish, not just restricted to the Tron network anymore, he has also become quite bullish about BitTorrent’s newly formed TRON-based cryptocurrency.
On January 7, Sun took his Twitter and announced about the BitTorrent Token (BTT), on a Tweet titled,”Tokenizing the world’s largest decentralized file-sharing protocol with BTT.”
— Justin Sun (@justinsuntron) January 7, 2019
Sun is renowned for his bullishness towards his blockchain network, especially on his Twitter account. For instance, Sun once stated that TRON will surpass Ethereum in terms of dapp development and the number of transactions. He even went on to offer some incentive to Ethereum developers if they are willing to make the shift to Tron’s network.
While Sun was making such statements, many criticized him. Though most of his assertions did come true in the end. TRON has become one of the best performing blockchains, with performance statistics to back it up. For 2019, Sun has set a big goal for TRON as he envisions that TRX will be in top 4 coins.
His latest tweet that suggested that BitTorrent’s BTT token will enable blockchain mass adoption shouldn’t be taken lightly. It might be a bold statement but looking at his track record, Sun definitely has the tenacity and drive to achieve what he said.
BitTorrent and BTT
BitTorrent, a communication protocol that enables the transfer of electronic files peer-to-peer over the internet has been a very efficient protocol for sharing large amounts of data over the internet because each part of a file downloaded by a user is transferred to other users.
Basically, it creates the largest decentralized marketplace of data files in the world. Users from anywhere are able to download files in the peer-to-peer file sharing system using the BitTorrent client. One example of a BitTorrent client is uTorrent, which is the most popular BitTorrent client.
Now that BitTorrent is creating its very own cryptocurrency (BTT) that will run on the TRON network, BitTorrent users will be able to use BTT to pay for high download speeds. Currently, the BitTorrent protocol is free, meaning anyone can download files for free if they are available. The involvement of BTT wuld not change the fundamentals of the protocol.
Rather, the token will simply be employed by users to incentivize, share more data and increase download speeds in the decentralized file sharing market. Users who continue to share data files will be rewarded with BTT from the users who are willing to pay. In theory, the BTT token should improve the speed, quality, and content of the decentralized file sharing network through incentivization.
Sun’s acquisition of BitTorrent was aimed to evolve the decentralized content sharing ecosystem using blockchain technology and cryptocurrency. The protocol has over 200 million users and if these users benefit from the improvements Sun intends to implement, BitTorrent could be the aggregator of blockchain mass adoption.
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