TRON Foundation (TRX) acquired BitTorrent in July 2018, giving them access to its 100 million monthly active users. Furthermore, TRON acquired BitTorrent for an undisclosed amount in July this year. The plans of the acquisition were reportedly out two months ago.
The company aims to use its decentralized cryptocurrency token TRX in the platform, within its massive users. Furthermore, this will help TRON create an ecosystem that uses its token to share creative content.
BitTorrent is a file-sharing service/software, which relies on the same concept of peer-to-peer sharing, as blockchain technology does. The similarity in concepts will help BitTorrent blend in with the company’s Virtual Ecosystem and Platform.
The peer-to-peer nature of the service, lets the user share media contents such as movies and TV series across the internet. Furthermore, over 27 million use the technology to share media content online across the web daily.
About Project Atlas
The project will let the product have backward-compatible protocol extensions. It will help the product become even better, comments Justin Sun, CEO of the TRON foundation.
“To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users.”
With the introduction of digital cryptocurrency token, the foundation aims to incentivize users. The company aims to use tokens to encourage users to share files for longer. Furthermore, the company will use the token to provide premium users with faster download speed. Also, users who keep seeding the torrent files will also get token as reward.
The team has assured the software’s massive user base that the software products will continue to be free. Furthermore, since the software will remain backward compatible, original versions of BitTorrent will remain compatible. This means that new changes will not affect the working of older version.