‘Thinker Tron cryptocurrency buys BitTorrent’

Jun

18

2018

Entrepreneur Justin Sun, who is behind the cryptocurrency Tron, reportedly took over the company BitTorrent and thus μTorrent. Suns Tron Foundation aims to develop a more decentralized internet

According to Variety , the BitTorrent staff was briefed last week about the acquisition, after documents showed that a company founded by Justin Sun, Rainberry Acquisition, merged with Rainberry Inc, parent company of BitTorrent. The acquisition has not yet been officially announced and a takeover amount is also unknown. Torrentfreak already reported at the end of May that Sun had signed a letter of intent with BitTorrent, although BitTorrent would have been in discussions with other companies for an acquisition.

Tron logo Justin Sun is the creator of the growing Tron platform . With this platform, the Tron foundation behind it focuses on the distribution of entertainment and a decentralized network for the associated data. The altcoin Tronix, or TRX, serves for payments on the network. Tron managed to expand his network, among other things, by means of giveaways, such as those for a Maserati, Mercedes-Benz and even a whole house . The organization now has more than 100 employees.

The whitepaper shows that Tron consists of several layers. On top is the layer of applications that users are running. This includes the blockchain part, with layers for smart contracts and consensus. Below that is the p2p data and network layer. Part of the p2p network layer is BitTorrent-based BitSwap and it is likely that Sun has taken BitTorrent to further develop this part of the Tron platform. In the end, Tron should make it possible for users to distribute documents, audio and video on Tron and thereby manage the revenue themselves.

BitTorrents own plans to present themselves as a commercial network for the distribution of audio and video have never had the success that was hoped for. With the bundling of software and advertisements in his μTorrent client, the company managed to obtain income. The creator of BitTorrent and long-time CEO of the company, Brian Cohen, is now CEO at Chia, another platform for cryptocurrency.

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