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BitTorrent’s new Tron-integrated platform to launch this summer

 

Crypto trend

 

 

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BitTorrent Speed, as the new BTT token integrated platform of BitTorrent is being dubbed, is scheduled to release this summer. BTT token runs on TRC-10 protocol. BitTorrent users who share content with other users via the utorrent network will receive this cryptocurrency as a reward.

 

This move can be seen as an incentive for users to adopt the new platform. Interestingly, the BitTorrent network is also considered as the first decentralized internet protocol.

 

From legacy P2P sharing to a much awaited Platform


Last year, Tron acquired peer-to-peer (P2P) file sharing platform BitTorrent for a whopping $140 million. BitTorrent is the most widely used P2P platform with over 170 million monthly active users. Tech giants such as Facebook and Twitter use BitTorrent’s decentralized network to instantly distribute updates to their servers. The company claims its P2P network moves as much as 40% of the world’s internet traffic daily.

 

BitTorrent also announced that outside the USA, BTT tokens will be available on Binance, one of the most popular cryptocurrency exchange platforms.

 

Tron acts as a social media platform that aims to create a truly decentralized internet. According to InWara’s data, this San Francisco based startup successfully conducted its ICO in 2017 and raised $70 million through the sale of its 40 billion TRX tokens.

 

Justin Sun is the co-founder and CEO of Tron, and was Chief Representative and Advisor of Ripple Labs before founding Tron. Justin has six years of experience in blockchain and crypto market, and was even featured in Forbes 30 under 30 list.

 

Justin Sun was quoted saying “BitTorrent is […] the first decentralized Internet protocol with large-scale global application, [which] even today [… ] retains its status as the world’s largest decentralized protocol, once transmitting 40% of daily Internet traffic.”

 

BitTorrent’s native tokens can be exchanged between peers to optimize network speeds and attain faster downloads. These steps are believed, by the internet community, to be quintessential for the company to achieve its ambitious goals of creating a truly decentralized and open internet.

 

Strategic rationale for acquiring BitTorrent- InWara’s take

 

Tron’s acquisition of BitTorrent can be viewed as a strategic move to utilize BitTorrent’s massive user base. This move also cements Tron’s place as a serious contender in the Blockchain media and entertainment sector, after an embarrassing controversy that its whitepaper was plagiarized from rival ICOs in the same space such as IPFS and Filecoin. More data driven analysis of Trons acquisition can be found in InWara’s article.

 

M&A deals have been on the rise in the Blockchain and crypto space

M&A deals have been on the rise in the Blockchain and crypto space
Source: InWara’s M&A database

 

According to InWara’s data there has been a 90% increase in M&A deals in 2018 (YOY). Still further consolidation is expected to be seen this year as the market matures and moves past the initial Fear-Uncertainty-Doubt stages.

 

Other large M&A in 2018 ($MM)

blockcuster M&A in 2018 ($MM)
Source : InWara’s M&A database

Peer-to-peer payments platform Circle’s acquisition of cryptocurrency exchange platform Poloniex for $400 million, takes the cake amongst noteworthy acquisitions last year.

 

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 Disclaimer: This is not financial advice. To know full details visit t&c

 

 

 

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