Justin Sun’s acquisition of BitTorrent sparked international discussion when the exact intentions were unclear. Sun has now announced the development of a custom token that will be used on the BitTorrent platform.
As previously reported, the deal to acquire BitTorrent by TRON was finalized in June. TRON intends to leverage BitTorrent’s underlying peer-to-peer protocol to help decentralize parts of the Internet. TRON claims the protocol once carried over 40% of global internet traffic.
TRON founder Justin Sun announced that a “custom token” will be created to operate the BitTorrent platform and incentivize users to participate in the network. According to his description, users who share files on BitTorrent will receive tokens based on the bandwidth they contribute.
Sun shared these details in his recent livestream (paraphrased):
“Project Atlas will connect the BitTorrent peer-to-peer network and the TRON blockchain through a set of BitTorrent protocol extensions. A custom token and an in-client token economy will address existing limitations and create a new economy for global resource exchange.
With Project Atlas, users will earn tokens for uploading, incentivizing them to continue seeding files after download. Storage and bandwidth will be integrated into the torrent ecosystem, resulting in higher availability and longer torrent lifetimes.
BitTorrent peers will offer tokens to encourage others to run clients on faster networks and to seed torrents for longer periods, improving swarm longevity and producing faster download speeds for all participants.
Participants will exchange tokens based on the resources they provide — not through mining.”
Another significant milestone followed the launch of the TRON Virtual Machine (TVM). The TVM provides developers with a full set of tools to create and run smart contracts on the TRON network.
Until now, the TVM was available only on the testnet to validate practical performance and identify bugs. The TVM is part of the Odyssey 3.0 mainnet release. It will be interesting to see further developments within the TRON community.
The TRON price recorded a 24-hour increase of +1.86 percent, reaching 0.0215 EUR. With a market capitalization of roughly 1.4 billion EUR, TRON ranks among the top cryptocurrencies globally.
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