After having quite a turbulent few weeks, let’s take a look at TRON and its recently acquired BitTorrent subsidiary and what’s been happening with the two firms.
CEO of both firms, Justin Sun worked on the idea that crypto needs to have a serious impact on big industries and by acquiring BitTorrent, TRON had its hopes set on changing the internet. It cost Sun $140 million to buy out BitTorrent last year. At the time Sun tweeted:
“Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation”.
BitTorrent has been developing like crazy since acquired by TRON. this is evidenced by its listing on popular exchanges like Binance, UPbit and Bithumb. The token has seen listings on exchanges with more markets like WazirX in India and Koinex. These movements weren’t smoothly done though as controversy quickly followed. The former CSO of BitTorrent, Simon Morris, basically stated that TRON wouldn’t be able to deal with the platform's ecosystem, adding:
“It [Tron] seems they’re going in the same direction [as our plan]. But what’s very clear is that they’re going to say, ‘they’re going in the same direction, come what may, because that’s what Tron does […] It’s basically a marketing machine layered on a very thin veneer of technology.”
Aside from these attacks, TRON has hyped up the exchange and launched BitTorrent Play on iOS. Furthermore, the application was seen to be the next big thing in the dApp sector.
But without an Android version for the application, the Play app never got off the ground. Despite the failure of this app, both firms stayed optimistic in regards to the acquisition. A BitTorrent official said, “BitTorrent and Tron have both grown since the start and we hope that it continues.”
Fast forward to today and we still a lot of hype from both projects. Despite the recent controversy from Justin Sun in regards to his $4.5 million charity lunch with Warren Buffett, we still expect some big things from TRON and BitTorrent.