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How Neo (NEO) Failed To Buy Tron’s (TRX) Newly Acquired BitTorrent

After revealing that the founder of Tron (TRX), Justin Sun was not the only one who made bid for the content distribution protocol, BitTorrent, it became crystal clear that quite a number of people valued the power of the platform.

It was said that even though the most talked about tech deal fell in favour of Sun, he was not the highest bidder as the likes of Neo (NEO) blockchain project were among the top contenders in the negotiation.

According to Coindesk, persons who got more information about the deal, and some internal documents revealed that the blockchain company, made a higher bargain for the deal than Sun through its venture capital firm, Neo Global Capital.

Although the pair Tron and BiTtorrent failed to comment on report, but the head of investment at Neo Blockchain, Weiyu Wayne Zhu was able to reveal that NGC offered $50 million dollars more than Sun.

While Neo blockchain proposed $170 million, the founder of Tron offered $150 million.

Despite pledging a higher bid for the platform, BitTorrent’s board claimed that the offer made by Sun is much more favourable to its company and shareholders than NGC’s.

Another important information that clarified the situation of the deal is that while the two companies are based in China, government regulation which will surely have effect on such a big deal favored Tron more.

Acquiring BiTtorrent in July, the announcement marked one of the earliest successful acquisition of a well-established web company by a crypto based firm.

Stirring up excitement amongst lovers and investors, Sun said the acquisition will mark a new dawn for the Cryptocurrency as it aims to decentralize the internet completely.

Though Tron and Neo’s aim for BitTorrent were quite different, the duo eyed the platform as one which would help them in claiming an important stake in the market, due to its speed and scalability.

Similarly, the two charges to be a great competitor for Ethereum, but the acquisition has so far roused the tempo of Tron to be a better blockchain platform than the world’s second most popular Cryptocurrency, Ethereum.

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TRON (TRX) Unveils Secret Project, Introduces Atlas

TRON (TRX)–Following up on last month’s promise of a “secret project” to be released on July 30th, founder Justin Sun and the TRON Foundation have announced Project Atlas, a system designed to strengthen the foundations of TRON and make the currency more efficient in relation to the new BitTorrent acquisition.

In June, during a live stream event to commemorate the Independence Day for TRON, Founder Justin Sun expanded upon the TRON Virtual Machine (TVM), in addition to teasing a new project announcement for July 30th. While most of the TRON community assumed the announcement would be in relation to Sun purchasing BitTorrent, thereby integrating the 100+ million users onto the TRX Main Net, news broke last week that the merger was taking place ahead of the July 30th announcement. Instead, the TRON Foundation provided a twist on the currency’s update, revealing details on Project Atlas, a program designed to improve upon the existing framework of Main Net and the cryptocurrency.

While details surrounding the project are sparse, Sun outlined on his Twitter that the new TRON protocol will work in conjunction with the BitTorrent merger, allowing a “great future for both.” In addition, the Open Letter published today to accompany the Beta Launch of the TRON Virtual Machine, states that the acquisition of BitTorrent will allow for TRON to grow exponentially in the cryptocurrency space,

“The acquisition enables TRON and BitTorrent to become the largest decentralized ecosystem in the world.”

Again, details are scant, but the aforementioned improvement to TRON’s network efficiency that Atlas will bring about likely seems tied up in improving the function of torrenting on the platform. TRON has yet to outline the exact way BitTorrent will function in conjunction with TRON’s Main Net, in addition to what the cryptocurrency plans to implement in order to scale to levels necessary to handle the volume of torrent based transactions. In a section of the letter addressing the TRON Secret Project and BitTorrent merger (which was announced last week), the TRON Foundation had this to say,

“Currently, we are exploring the possibility of using the TRON protocol to improve the BitTorrent protocol, in order to make BitTorrent protocol faster and lengthen the lifespan of BitTorrent swarms. I hope the integration of TRON and BitTorrent will allow both parties to work better as one in the future.”

TRON does mention their intention to provide incentives for network users to continue to seed files following their download, thereby infusing greater resources into the torrenting ecosystem and improving the experience and utility of the system. If nothing else, TRON intends BitTorrent to be their major differentiating factor from other network currencies on the market, while focusing on how cryptocurrency can improve the overlapping, decentralized world of torrenting,

The TRON network will serve as the underlying protocol of the Secret Project. Hundreds of millions of BT users across the globe will become a part of the TRON ecosystem. BT will be the largest application on the TRON network, which will allow TRON surpass Ethereum on daily transactions and become the most influential public blockchain in the world.

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Justin Sun Officially Adds 100 Million BitTorrent Users To Tron (TRX) Ecosystem

No doubt, Tron (TRX) is one big coin that cannot be rubbished in the cryptocurrency space. After Justin Sun announced that Tron would be moved out of Ethereum Network, the cryptocurrency war lord, declared on the go that there is going to be a huge competition between the two altcoins, like that which existed between Moses and Pharaoh.

Today, in a letter sent to the community, it was officially announced that the Tron has acquired BitTorrent in a bid to make its ecosystem stand out.

Justin Sun said BitTorrent and BitTorrent products are solely Tron’s property, creating euphoria in the community.

“From this day on, BitTorrent, whose software has been installed on billions of user devices, will become part of the TRON ecosystem, making TRON the largest decentralized Internet ecosystem in the world,” he said.

He declared that every BitTorrent user and supporter are now part of the TRON family, and so, 100 Million BitTorrent Users are now added to Tron (TRX) Ecosystem.

He maintained that anybody who have used the BitTorrent protocol, built their business on the protocol, or otherwise benefited from the protocol are now part of the TRON family.

BitTorrenct protocol, a file sharing communications protocol based on a p2p network was founded in 2001.

Before blockchain technology became prominent, BitTorrent has been regarded as the first decentralized Internet protocol with large-scale global application.

Talking about the decentralized personality of BitTorrent, Justin Sun said:

“Even today, the BitTorrent protocol retains its status as the world’s largest decentralized protocol, once transmitting 40% of daily Internet traffic. BitTorrent created and shaped the protocol, with 70% of BitTorrent users using the product. The company aims to decentralize the Web by promoting and further developing the BitTorrent protocol.”

The letter reads that BitTorrent gave birth to the decentralization movement, saying “Developers, entrepreneurs, and the decentralized Web community regard BitTorrent as the original pioneers of decentralization technology. It is the foundation of an open, transparent, shared Internet protocol.”

The latest acquisition signals that TRON’s “All-In Decentralization” agenda is heading towards fruition since the two platform which has now become one share the same vision for a decentralized Web.

Sun said he understands that BitTorrent will become more decentralized and gain a new life after integrating into the TRON ecosystem.

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What Could a BitTorrent Merger Mean for TRON (TRX)?

TRON (TRX)–On Monday, Variety broke the news that TRON founder Justin Sun had finalized his purchase of BitTorrent Inc., the parent company behind popular torrenting platform BitTorrent. While Sun has yet to make an official comment upon the purchase, or even hint that torrenting may find its way to TRON’s newly launched Main Net platform, it’s more than plausible at this point to assume some crossover of the two is imminent.

Let’s look at some of the facts. News of Justin Sun purchasing BitTorrent dates all the way back to January 2018 (including a lawsuit against the parent company over allegations of foul play), which occurred just as TRX was reaching a 20 billion USD market capitalization and an all time high in pricing. Given the outspoken nature of Sun, it’s possible this was another marketing stunt to draw greater attention to TRON, thereby pumping the value of both entities. It’s also possible that the founder was looking to pivot at the top, selling out his position in TRX at a peak to move into a more stable position through torrenting. However, Sun’s multi-billion TRX stake in TRON is supposedly locked alongside that of the TRON Foundation, to be spent only on maneuvers like Project Genesis, a 2 billion USD fund for Main Net development and incentives.

Therefore, it seems unlikely that Sun would have cashed out in January, despite allegations of doing so, to purchase BitTorrent. Instead, he likely saw an opportunity in the torrenting client that would pair with the coming implementation of TRON’s Main Net. Remember that TRON, unlike other transaction-based currencies such as Bitcoin and Ripple, is attempting to build a platform to reinvent the digital landscape of entertainment media. Torrenting is one avenue the company could pursue (in conjunction with the already established partnership through Game.com). The utility of TRX on Main Net makes the coin a likely companion to torrenting.

The decentralized ethos of cryptocurrency has always held a fair amount overlap with that of peer to peer file sharing through torrents. TRON, with the advent of Main Net, has established a platform that is capable of handling 10,000+ transactions per second. In addition, transactions consume a minuscule 0.00001 TRX, meaning an entire lifetime of TRON-based transactions could be paid for with a single token. It’s possible that Justin Sun could be gearing up for the introduction of torrenting on Main Net, via the BitTorrent client, that uses TRX micropayments as a form of delivery. While the service would be an added layer over the current free iteration of the BitTorrent client, it could come with the added benefit of cryptocurrency to entice a larger user base.

At the very least, BitTorrent would drive the sort of attention that TRON is desperately in need of following the post-hype period of Main Net launch. TRON was able to successfully transition away from the crowded ERC-20 space on Ethereum’s network, but has yet to experience the price appreciation that would accompany such a significant step forward for the currency. While the entire cryptomarket has been in decline over the last two weeks, TRON has barely appreciated a percentage point following the official launch of Main Net. News of a merger between TRON and BitTorrent would reinvigorate investor interest in addition to building upon the confidence inspired by community projects like Genesis. Sun and the TRON Foundation could be waiting for the opportune moment to announce such a partnership. But for now, the investor base is left waiting on news of the TRX founder’s most recent acquisition.