Insights on BitTorrent acquisition by TRON
BitTorrent is one of the leading softwares which offer the fastest torrent clients to its users. It also enables services to sync and share software for several operating systems including Mac, Windows, Linux, Android, and iOS. On the other hand, TRON is a decentralized platform built upon the blockchain technology. This platform wishes to build a digital content entertainment system which is free and global. They aim to incorporate a distributed storage technology which would help them provide their clients services regarding sharing of digital content which are easy and cost effective.
Bittorrent Sold for whooping $140 million
And just to make things more interesting, TRON has bought BitTorrent at a whopping price of $140 million. Things are yet to go official, but it looks like the deal is almost done and dusted. Here are a few insights about BitTorrent acquisition by TRON that you need to know.
The timing of TRON’s acquisition of BitTorrent has brought about many theories as to what they exactly plan to do with it. TRON aims to better own and monetize their digital content and TRON would most likely be involved in pairing the project with a better established platform’s resources.
BitTorrent has long since suffered severe accusations of copyright infringements. One of the many goals of its acquisition bt TRON is to put those allegations to rest.
On fork day, a 1 – 1 swap would be enabled. Since TRON has Ethereum powered tokens currently adhering to the ERC20 standard, a swap would be taking place on fork day. Owners of these Ethereum powered tokens would be able to then swap these for a set of tokens which have been recently built on the TRON’s native network called the TRON20.
Bittorrent is Peer to Peer
One of the shareholders in this business deal has recently divulged that there is a possibility of TRON harnessing the peer to peer nature of the BitTorrent platform to set up TRON’s very own mining network.
TRON has itself been facing several unproven allegations in several spheres including misleading partnership announcements, plagiarism, and on an even serious note, severe violations of the Ethereum’s licensing rights. Despite of these bad press regarding their platform, they manage to hold a wonderful place on the digital market. It currently has a market share of over $3.2 billion and is in the top 10 list of the largest cryptocurrency in the digital market.
Justin Sun, the CEO of TRON
The deal has not been signed off officially as of now since if reports are to be believed, there is minor dispute going on regarding who made the introduction between BitTorrent and Justin Sun, the CEO of TRON.
TRON wishes to decentralize the distribution of content in the digital entertainment industry and owing to the huge user base of BitTorrent which comprises almost 170 million users across the globe, it would be an engaging flow of events to watch out for and witness how TRON would utilize such a huge user base to the benefit of everyone.
No immediate plans to change any segment of its Business Model: BitTorrent
However, BitTorrent had recently issued a statement on its website stating that the company had no plans to change any segment of its business model and would in no way start charging its users and kind of fees for the services it offers. They also mentioned that they do not wish to, or plan to enable any digital currency mining services any time in the distant future.
Owing to such a massive acquisition of BitTorrent by TRON, TRON’s tokens namely TRX went soaring high in the digital market by almost 20%. That is quite a significant jump in the price of a digital currency.
Despite all the unconfirmed news and developments floating around in the market, TRON’s CEO Justin Sun has refused to pass any comments about this merger. He was reportedly known to state that he has high and complete respect for a platform like BitTorrent but did not divulge any information about what developments would take place once the merger is officially signed off.
BitTorrent is presently the largest player in the industry of decentralized computer architecture which provides services of storing and distributing digital data. It was also one of the earliest movers in this domain. However, BitTorrent had been looking for a buyer in the market since quite a long while.
According to the white paper of TRON, its own digital currency names TRX would be used as a means of payment for the content on its network. So basically TRX would be a virtual currency primarily for the entertainment industry.
BitTorrent had a few more previous contenders willing to buy it. There were reports about a possible deal between Akamai and Rovi and BitTorrent however nothing final come off of these negotiations and they went on to ditch BitTorrent and buy its contender Red Swoosh.
TRON is working on making a merger between its digital token TRX and an independent blockchain and the acquisition of BitTorrent has come surprisingly around such an activation process. This could be one big marketing strategy to attract a larger user base.
Amongst several rumours about TRON wishing to revamp the entire BitTorrent platform, BitTorrent has time and again repeated itself in saying that they would be continuing to innovate and invest in the BitTorrent products to always cater to the needs of its massive user base. Only time will tell what would come off this merger.