Analytics Made Easy - StatCounter
Tron’s Plans for $140M BitTorrent Purchase “Somewhat” Revealed

Tron’s Plans for $140M BitTorrent Purchase “Somewhat” Revealed

Justin Sun, founder of Tron, has recently purchased the hugely popular P2P file sharing platform BitTorrent. What exactly he bought it for was unknown. Speculators suggested that it may be used for decentralized distribution of some kind- on-par with cryptocurrencies.

He kind of discussed the plans for the platform in a recent interview. Ashwin Navin of Cheddar states that Tron will use the collective computing power of the giant P2P network and harness it to power some kind of blockchain. This is pretty obvious, as you already have the power of millions of users around the world and you have the power to access their computers for mining, processing, or otherwise facilitating some kind of background process- given that you have permission.

“I would say that BitTorrent for a lot of reasons was a pioneer in distributed computing. And we know that the crypto space is built around decentralization and creating incentives for consumers to do certain things. In the case of Bitcoin, they’re mining and providing a computing fabric for all kinds of transactions that are happening with Bitcoin.

Navin states that Tron can use BitTorrent to bring decentralization to new levels and possibly even create their own P2P network utilizing the sheer number of users and collective computer power.

“In the earliest days of BitTorrent there was this ethos that the inventor’s father came up with, which is that the printing press is great because it provides freedom of expression, freedom of the press, which we enjoy in many modern societies. But the freedom of the press is only limited to those who can afford to have the printing machine.

While it’s still unknown what the exact purpose is, the interview just confirmed the thought speculators were all suggesting. The computing power of millions of file-sharing users has a lot of possibilities in the crypto space.

“In the case of BitTorrent you’ve got hundreds of millions of people who have made their computers available for making files available. And so, what I imagine you could do if you’re a blockchain company is you could then incentivize people with more than just free content. But maybe there’s financial incentives for making your computer available for people who want to pay for it.”

Tron bought BitTorrent last month for $140M.

Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

What do you think?