Vitalik Buterin Talks About Tron’s BitTorrent and Justin Sun Asks Why He is So Obsessed With it
BitTorrent is one of the largest P2P file-sharing decentralized networks on the internet that allows individuals to share files through it. In 2018, the Tron Foundation purchased BitTorrent in order to improve it using blockchain technology.
Vitalik Buterin Talks About The BitTorrent Platform
In a recent video released by the Twitter user @BeatsCrypto, it is possible to see Vitalik Buterin talking about the BitTorrent network and praising it. As @BeatsCrypto says, BitTorrent is the perfect vehicle for Tron to increase mass adoption and scalability for decentralized applications (dApps).
— Justin Sun (@justinsuntron) February 24, 2019
Justin sun commented why is Buterin so obsessed with BitTorrent. A Twitter user answered that Vitalik talks about it because he is honest and objective.
The BitTorrent Foundation has released a new coin specifically designed for the P2P decentralized network called BitTorrent Token (BTT). The BTT token was launched a few weeks ago on the Binance Launchpad. Interested investors could purchase it using Binance Coin (BNB) or Tron (TRX).
In just a few minutes, the tokens were sold out. However, there was some controversy regarding this Initial Coin Offering (ICO) due to the fact that BNB and TRX were pumped the days previous to the ICO. After it, the coins dropped over 10%. Additionally, just a few users were able to purchase the BTT coin and the Binance Launchpad experienced some issues with its service.
According to a former BitTorrent executive, Simon Morris, the Tron network is not prepared for the transaction volume necessary to make the token work. Indeed, he explained that the transactional capacity that they were looking at needed hundreds of transactions a second. Thus, this is going to
“melt Tron. Literally, destroy it.”
At the time of writing this article, the BitTorrent Token has a price per unit of $0.000975 and a market capitalization of $965 million. Meanwhile, Tron is the 9th largest cryptocurrency in the market. It has a market capitalization of $1.8 billion and each TRX can be purchased for $0.026.