Who doesn’t know about the BitTorrent and the uTorrent client? We all know very well about the BitTorrent and the uTorrent client, however, now according to the latest reports, the company behind BitTorrent technology and the uTorrent client has a new owner. Yes, BitTorrent has been sold to blockchain startup for an alleged $140 million.
BitTorrent Has Been SOLD To Blockchain Startup For $140 Million
We all know very well about the BitTorrent and the uTorrent client, however, now according to the latest reports, the company behind BitTorrent technology and the uTorrent client has a new owner.
Yes, according to the well-known sources and reports, recently, it was acquired by Justin Sun and his startup, of course, Tron, involved in one of the most valuable crypto-coins on the market.
The deal was closed for $140 million in cash, according to TechCrunch. Some shareholders are questioning the terms of the acquisition, but this is unlikely to be an obstacle – as BitTorrent has been looking for a buyer for some time.
The BitTorrent protocol is the largest decentralized architecture on the internet and moves up to 40% of the world’s traffic on a typical day.
Meanwhile, the company BitTorrent, Inc. did not have the same degree of success. However, it tried to position itself as a content creator and even launched a platform for streaming audio and video called BitTorrent Now.
However, its name was closely associated with piracy, making it difficult to establish partnerships with copyright holders. So it has been making money from uTorrent ads, which can be problematic – trying to infect your computer with malware, for example.
In turn, Tron has created a cryptocurrency called TRX that is in tenth place in the market value ranking with a total of US $3.2 billion. Founder Justin Sun and the TRON Foundation are believed to hold half of that.
Sun has worked for Ripple, a company whose token enables fast money transfers between countries. And he has plans to use TRX as a means of payment within BitTorrent.
Tron is considering using BitTorrent’s peer-to-peer architecture and its 170 million users to mine crypto-coins, according to TechCrunch. In addition, it wants to “legitimize” its business: the startup was accused of forging FileCoin and Ethereum to develop the TRX.
The BitTorrent specification can be used for free, so open-source clients like qBittorrent and Deluge should not be affected. As for uTorrent, will it install a new miner on users’ computers? Currently, we don’t know anything about that, hence, to know more simply we have to wait, so, stay tuned for more latest updates on this.
So, what do you think about this? Simply share all your views and thoughts in the comment section below.
