BitTorrent's First Foray into Blockchain Technology

BitTorrent's First Foray into Blockchain Technology

By rex_regulus_rey | Cryptos 101 | 5 Apr 2019


TRON Blockchain Acquires BitTorrent
     It took one persistent Justin Sun and a hefty amount of money for BitTorrent to finally dive into blockchain technology. BitTorrent is the king of p2p file sharing from early 2000's and accounted for the biggest chunk of internet traffic on any given day. It only started to dwindle when customers shifted into streaming sites over torrents which caused BitTorrent's popularity to greatly diminished. But still, BitTorrent stayed a formidable force up to this day rendering services to a diverse set of users that include Facebook, Amazon, Twitter and Blizzard Entertainment to name a few.

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    Then by late 2018, TRON acquisition of BitTorrent was finalized to the tune of 140 Million dollars. Justin Sun primary purpose is to integrate Bittorrent protocol into the TRON blockchain and bringing along with it are BitTorrent's massive active users of around 100 million. This spells an instant mass adoption of the TRON blockchain and tons of benefits to its whole ecosystem.

 

BitTorrent's Role is not to Reinvent the Wheel
    BitTorrent offers two readily available resources for TRON. First, the critical mass of its BitTorrent ecosystem and second, is the engineering expertise of its BitTorrent protocol. Both can be easily leveraged by TRON to achieve it goal of web decentralization. True to this statement, BitTorrent has created a new feature of its protocol called BitTorrent Speed. This feature rewards BitTorrent users with BitTorrent token called BTT in exchange for seeding and bandwidth. This solves the issue BitTorrent is facing in terms of lack of economic incentive for the users to continue seeding. BTT will be the sole token to be used for all BitTorrent transactions.

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TRON Blockchain is Unfeasible for BitTorrent Transactions
     The next problem to face is the ability of TRON blockchain to scale. With a massive 100 million users from BitTorrent, is TRON equipped to handle such large transactions? BitTorrent has already offered a solution to this scalability issue by deploying an "on-chain/off-chain" exchange. This exchange will handle token transfers between TRON blockchain and a private ledger.

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It seems that TRON is adamant in pursuing its dream of a decentralized web. And at the center of all its efforts is BitTorrent with its millions of users and its protocol.

BitTorrent Website Link:  https://www.bittorrent.com/

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rex_regulus_rey
rex_regulus_rey

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