TRON Coin Takes Over Bittorrent Inc.
When it comes to popularity, torrent protocol is surely more popular and widespread than crypto currencies. Bittorrent Inc., which is the company that manages the ongoing development of bittorrent protocol, is recently taken over by TRON. It seems that the negotiations for this sale have been going on for months, but only a few days ago it has become final (1). Rainberry Inc., owner of Bittorrent Inc., applied to the California Secretary of State a few days ago to change its legal status and stated its new owner as “Rainberry Acquisition Inc.”. The owner of this company is Justin Sun. You know Mr. Sun: he is the founder of TRON project, which started working on mainnet about 2 weeks ago.
We do not know what the sale figure is, but we can make some estimates. Bittorrent Inc. is a business that basically earns all of its income through advertising and it is active since 14 years. According to the financial reports, its annual earnings vary between $ 35 and $ 40 million. If you think about the popularity of torrent protocol this is a pretty low figure but the company does not make any income from the use of the protocol. Its sole source of revenue is website and software advertising. The TRON project is quite large, on the other hand: Its current market value is more than $ 4 billion. Every day, nearly $ 200 million worth of TRON tokens change hands.
So, The Meaning of This Acquisition Is…
TRON is not just an ERC-20 token project: it is trying to create a completely decentralized web. Almost any JAVA-based program can work on the TRON blockchain with smart contract support. This means that you can run almost any program you want on the blockchain: including the torrent protocol. Although no official statement has been given, many people think that Bittorrent will become a decentralized application and start working on the TRON blockchain pretty soon.
If so, this may be the beginning of a real revolution: Moving the torrent protocol onto the blockchain means, first and foremost, the end of “DMCA takedown” orders. There is no website to close, no server to seize: TRON and Bittorrent cooperation can eliminate most of the copyright laws in practice. If other software developers migrate to this new system, then a new era for file sharing begins: A file sharing system that provides access to a much larger database without any downtime and can never be turned off. However, we can already assume that TRON tokens will be required to take advantage of this new system – Justin Sun will most likely add a monetization tool to the Bittorrent protocol.
What are your thoughts? Do you think it would be useful to move file sharing protocols over blockchain? Share with us.
- (1) https://variety.com/2018/digital/news/bittorrent-acquisition-tron-justin-sun-1202841793/