TRX (Tron) with a market capitalization of $1.156 billion is the ninth largest cryptocurrency in the world while BitTorrent is one of the leading software companies with the fastest torrent client and sync share software for Windows, Linux, Android, iOS and Mac with a global user base of about a hundred million. As per the recent tweet, BitTorrent announced the launch of its live-streaming app which is scheduled for launch tomorrow.
— BitTorrent Inc. (@BitTorrent) September 20, 2019
The story starts from when the BitTorrent company was bought by the Tron foundation on an enormous client base in 2018.
The niTron Summit of January 2019, offered the attendees a chance at understanding what is going to happen as blockchain levels the online playing field and creates new options for entrepreneurs and investors. This was the first one to be organized by the Tron Foundation. It was here that the Tron Foundation made it specifically clear that it has ‘big plans’ for BitTorrent this year, exciting techno-geeks around the world. Recently, a press release was held by Tron releasing further information on what it intends to do, launch a live streaming feature in the next couple of months, and if all goes well, in 2019 itself!
This has turned out to be a massive game-changing announcement as tech giants Facebook, Instagram, YouTube and Twitch gear up to invite a new player into the field. When collaborated with a world-class business moderator, this new feature would surely make a huge impact, as almost all other streaming applications are available only on social media networking sites.
Justin Knoll, Project Leader on the Atlas Project went on to speak more about this collaboration. He was cited saying that the BitTorrent Token (BTT) went along with the BitTorrent incentive mechanism and that the speed exhibited by it would go a long way in enhancing the new protocol, changing the operational principles of the consumer. The new announcement has put BTT on the center stage. Analyzing it would help in concluding about the viability of the new proposal by the Tron Foundation. Based on the TRON blockchain, the aim of BTT coin is to expand the network functionality and improve client efficiency. The network members would be provided with a huge bandwidth and storage sharing on the existing BitTorrent network, optimizing torrent file downloads.
With BitTorrents accounting for 22% of global upstream traffic and 3% of worldwide downstream traffic, now, the techies would enjoy faster download speeds, increasing the life of the entire network. The huge user incentives would now help in the development of the network ecosystem. It would also encourage users to start seeding more on the Tron network. The new software would enable the users to earn money of sharing/distributing the file and manage the tokens through an integrated wallet.
However, the popularity of the BTT as against that of BitTorrent is also under question. With the emergence of various alternatives to acquire the files, has resulted in people deleting the files almost as soon as the use is over. This questions as to whether the token has actually helped to improve the system from how it was earlier. Lastly, it needs to be seen whether the Tron blockchain can handle such a humongous volume of BitTorrent data.
There is no doubt that the move will garner much speculations and criticisms. Since the crypto market is highly volatile, any decision would have to be made after carefully analyzing all the possibilities. It would certainly be a treat for the tech world