BitTorrent is a leading platform for peer to peer file sharing. The premise of BitTorrent is that it allows for users to share digital files over a basic internet connection. These files could contain anything from videos, to games, to music or to basic documents. Interestingly, according to some sources, in 2004, BitTorrent was responsible for all internet traffic.
Of course, as streaming services such as Netflix and Amazon Prime have taken over the internet, the need for BitTorrent (in some respects) has reduced, however, BitTorrent remains a key player within the peer to peer file sharing market.
At the moment, BitTorrent uses traditional file sharing protocols to facilitate file transfers, this recent news however could see a TRON integration into the BitTorrent system, moving this traditional platform over to the blockchain, which of course does boast a whole host of intrinsic benefits.
So, according to Finance Magnates, Justin Sun, the founder of TRON is about to make an acquisition of BitTorrent, though as it stands, no official statements have been made just yet. Apparently, a deal between TRON and BitTorrent was made last week, with officials at both sites told to keep quiet about the intricacies of the deal for now.
According to Finance Magnates:
“News that TRON was interested in acquiring BitTorrent first emerged in May of this year, when TorrentFreak reported that Sun was pursuing the purchase. Talks between Sun and BitTorrent allegedly began in September 2017; Sun is said to have signed a ‘letter of intent to acquire’ in January 2018.”
“The proceedings of the deal hit a rough patch between then and now when Sun filed a temporary restraining order against BitTorrent for shopping around to other bidders. Sun argued that BitTorrent had agreed not to pursue other offers.”
You can see the full report for yourself, here- https://www.financemagnates.com/cryptocurrency/news/founder-tron-cryptocurrency-quietly-acquires-bittorrent/
Since this then, it does seem as if Sun has made moves to finally make the purchase of BitTorrent. Whilst we await confirmation of this, we should look at the potential implications this may have for both TRON and BitTorrent.
If, a TRON x BitTorrent partnership goes ahead (and indeed that’s a big if, realistically, even if Sun has bought BitTorrent, there’s no evidence to say he will integrate it as a part of TRON) then we could very well see BitTorrent introduced to blockchain technology. The blockchain has big advantages for file sharing and thus can ensure transparency, traceability and can confirm things such as ownership. By using this sort of system, BitTorrent could even stamp out piracy, something that has long been a major problem for torrent and file sharing websites.
Either way, it’s all very exciting, for now we will await further news and an official announcement from either TRON, Sun or BitTorrent.