The acquisition of BitTorrent by Tron’s Justin Sun has been in the news headlines for months now. Even though most people in the cryptoverse knew that Sun had acquired the popular torrent site, nothing official was said by either parties. Today, they have made it official.
It's official. BitTorrent is now part of #TRON. We pioneered the world's largest decentralized p2p protocol, now we're joining forces with TRON to build the future of the decentralized internet. Read more at https://t.co/ZoCPl5c5wS. @Tronfoundation @justinsuntron pic.twitter.com/EI3xP8Gdz2
— BitTorrent Inc. (@BitTorrent) July 24, 2018
In their blog ,they mentioned that they are excited to announce that TRON has officially closed its acquisition of BitTorrent. BitTorrent, which has over 100 million active users worldwide, and is one of the top-rated apps on Google Play will operate from Tron’s new San Francisco location. The office is the center of operations for the company’s global market expansion.
“The division will provide robust support for TRON’s global business development and partnerships while pursuing its vision for the world’s largest decentralized ecosystem,”
the blog mentioned.
BitTorrent has up to 170 million monthly users. Both Facebook and Twitter use BitTorrent to distribute updates to their servers. Florida State University also distributes large-scale scientific data to its researchers via BitTorrent. The game World of Warcraft produced by Blizzard Entertainment is downloaded by users with the help of BitTorrent. Transmission of data on the protocol allegedly takes up 40% of daily Internet traffic on a global scale.
Sun also took on Twitter to make things official saying,
“Together we are building the future of the decentralized Internet!”
He also wrote a medium blog to explain his objectives about the purchase and told his investors to be excited for the things to come.
Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation https://t.co/mQQqUeOaHv pic.twitter.com/eSYY4lWsXI
— Justin Sun (@justinsuntron) July 24, 2018
It is noticeable that BitTorrent has lost its vitality which was prevalent in the early days of the internet. However, in the new Internet represented by the blockchain, a truly decentralized network like Tron will definitely rejuvenate the BitTorrent protocol.