TRON’s exuberant and bold CEO Justin Sun is very bullish and excited about BitTorrent’s TRON-based cryptocurrency, BitTorrent Token (BTT). On January 7, Sun took his excitement to Twitter where he shared a tweet titled, “Tokenizing the world’s largest decentralized file-sharing protocol with BTT.”
— Justin Sun (@justinsuntron) January 7, 2019
Sun has large goals for TRON (TRX) as he envisions his blockchain platform as the leading decentralized entertainment content sharing platform. He has made numerous bold remarks about his goals and what’s to come for TRON.
For instance, he stated that TRON will surpass Ethereum in terms of dapp development and the number of transactions. As Sun put it, TRON’s blockchain can handle thousands of transaction per second, and Ethereum developers would leave Ethereum and come to TRON’s platform.
All of these statements have come true, but everyone criticized Sun at the time for making them. TRON has become one of the best performing blockchains, with performance statistics to back it up.
His latest tweet stating that BitTorrent’s BTT will be the token that enables blockchain mass adoption should not be taken lightly. While this statement may be his boldest yet, Sun has shown that he has the tenacity and drive to grow TRON’s influence in the crypto space.
BitTorrent and BTT
BitTorrent is a communication protocol that enables the transfer of electronic files peer-to-peer over the internet. It’s a very efficient protocol for sharing large amounts of data over the internet because each part of a file downloaded by a user is transferred to other users.
Essentially, the BitTorrent protocol creates the largest decentralized marketplace of data files in the world. Users from anywhere are able to download files in the peer-to-peer file sharing system using the BitTorrent client.
One example of a BitTorrent client is uTorrent, which is the most popular BitTorrent client.
Now, BitTorrent is creating its very own cryptocurrency (BTT) which runs on the TRON network. The token will have utility because BitTorrent users will be able to use BTT to pay for high download speeds. Currently, the BitTorrent protocol is free, meaning anyone can download files for free if they are available.
With BitTorrent’s new cryptocurrency, it’s not that the protocol is starting to charge for its services. Rather, BTT tokens will simply be used to incentivize users to share more data and increase download speeds in the decentralized file sharing market.
Users who continue to share data files will be rewarded with BTT from the users who are willing to pay. In theory, the BTT token should improve the speed, quality, and content of the decentralized file sharing network through incentivization.
Sun acquired BitTorrent to further develop his vision of a decentralized content sharing ecosystem using blockchain technology and cryptocurrency. He has big plans to improve BitTorrent’s functions as well as introduce blockchain technology and cryptocurrencies to millions of users around the globe.
BitTorrent has over 200 million users and if these users benefit from the improvements Sun intends to implement, BitTorrent very well could be what leads to blockchain mass adoption.
It’s an exciting time for TRON and blockchain technology as this development unfolds. Even Binance CEO, Changpeng Zhao (CZ) has shown his appreciation for what Tron is setting out to do.
The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study.
— CZ Binance (@cz_binance) January 5, 2019
Will BitTorrent’s Tron-based BTT token enable blockchain mass adoption? Let us know what you think in the comment section below.