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Confirmed: Tron (TRX) Buys BitTorrent

Confirmed: Tron (TRX) Buys BitTorrent

There were rumors that Tron (TRX) has bought the ever popular file-sharing platform BitTorrent.

Now, it’s confirmed.

The entertainment magazine Variety reports that Tron founder Justin Sun just acquired the rights to the platform and bought it out last week. Documents are already showing up all over the net of Sun singing a letter of intent to purchase the company in 2017, but it was delayed by BitTorrent because it was looking for other possible buyers. Sun then went after the company with legal action stating that BitTorrent agreed not to look for other offers while the deal was discussed between the two parties.

The total amount paid for the network is undisclosed, and how exactly he’ll leverage Tron into the platform. Knowing that Tron wants to create a decentralized internet where people can store, publish, and monetize their creations with immutable proof of ownership on the blockchain, BitTorrent may provide a way to accomplish that.

It allows P2P file sharing on a huge scale. When users start to download a file from another peer, that same file gets uploaded at the same time for other users. It’s efficient and capable of transferring large files dozens of people simualtnoeiusly. The technology is often used for illegal purposes such as distributing software, however, BitTorrent doesn’t actually store the files and litigation has been often focused on sites like ThePirateBay instead.

BitTorrent first went available for public access 17 years ago in 2001. The platform is nowadays one of the world’s most popualr file-sharing platforms. Tron will eventually no longer be an ERC20 token after it achieves independence from the Ethereum network. With BitTorrent, it’ll be intesting to see what they make of it.

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