Cardano/Ethereum Co Creator prasises BitTorrent

It is surprising to see the founder of Cardano (ADA) and co-creator of Ethereum (ETH) Charles Hoskinson praise and regard the newly acquired BitTorrent as an example of scalable protocol thereby adding a feather to the cap of Tron (TRX).
LIONBIT
Speaking during Crypto ICO Summit, Hoskinson said IOHK was approached in 2015 for solving three principal problems face by cryptocurrencies. According to him, the problems include scalability, interoperability, and sustainability.

He said: “So in terms of scalability, what do we want to do? Do we have any example of scalable protocols? Probably used it. It’s called BitTorrent.”

He furthered on why BitTorrent is a scalable product using the Game of Thrones and Pee-wee’s Playhouse as examples.

He made known that it is faster to download Game of Thrones with the use of BitTorrent, adding that it is the number one pirated show on the universe. He however said the download speed of Pee-Wee’s Playhouse is slow for the fact that many do not like it.
“Well, why does it get faster? When people join a torrent’s swarm, they usually add resources more than they take. So more people, more resources, faster better performance. That is a really good distributed system. That’s why half a billion users. That’s why a third of all the internet’s traffic is carried by this protocol. It’s wildly successful”
TIP
Tron (TRX) acquired BitTorrent recently, pointing that the biggest Torrent application has made them completely decentralized.

Tron’s Justin Sun acquired the product for $140 million. Then, he said all users of the protocol are automatic members of the Tron community. At the moment, Tron Foundation is working on Project Atlas, which is the integration of Tron and BitTorrent.

Tron may be ranked 12th in the market today, but it is among the most sophisticated coins. More than often, Tron introduces myriads of gigantic development into its ecosystem so as not to lose its class or remain moribund like some coins.

Unlike some altcoins that are full of leap service, Tron may be unsung, but it has been able to achieve quite a number of significant partnerships and adoptions that places way ahead of ordinary Cryptocurrency.

With the aim to decentralize the world, Tron delved into the Search Engine, Big Data, and Project Evaluation sector by acquiring BlockChain.Org.
Procuring BlockChain.Org, Tron intends to overthrow Google in the Search Engine sector, giving Cryptocurrency better data evaluation.
At the moment, the market may not be so bearish enough to excite lovers of Cryptocurrency, but Tron tries to encourage its supporters and investors with bounties on occasions.


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Author: MaxPositives
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Tron’s BitTorrent Acquisition Triggers String of Employee Exits

At least five employees have left BitTorrent, the peer-to-peer networking pioneer, following its June acquisition by Justin Sun, the founder of the controversial blockchain protocol Tron, CoinDesk has learned.
LIONBIT
According to multiple sources with direct knowledge of the acquisition and company operations, the departures were related to concerns about the acquisition, as well as the direction proposed for the company by Tron leadership. Sources said three of the employees left on their own accord, while two others were dismissed.

Among those departed were at least two individuals serving in leadership positions, the sources indicated, performing key roles such as general manager and head of marketing.
However, other senior-level employees, including the company’s chief executive, chief financial officer, chief product officer and chief revenue officer, are unable to leave the company due to 18-month lock-in agreements.

The news comes just two months after Sun purchased the San Francisco-based company for $120 million in cash through Rainberry Acquisition, Inc., a company registered to him alone according to publicly available documents. Sun, a former Ripple representative, is best known for founding the Tron project in 2017, which aims to decentralize the internet and boasts controversial miner Bitmain as a backer.

Tron completed a $70 million ICO in 2017, but later returned funds collected from Chinese investors after China banned the fundraising method.

At the time of the acquisition, observers speculated that Sun purchased BitTorrent with the hope of leveraging its extensive user network (about 100 million users per month) for his own project’s ends. Others suggested Sun acquired the company with the hope of lending credibility to Tron – something it has been accused of lacking in the past.
More specifically, last year Tron was accused of failing to properly attribute code that it incorporated into its protocol. This allegation was followed by claims project leaders had plagiarized Tron’s white paper.

TIP

Sun’s $1 billion blockchain launched in late June shortly after the acquisition was announced, however, token holders are still in the process of electing the nodes that would make the technology fully operational.

A Tron representative told CoinDesk via email:
“Tron is committed to the BitTorrent product and user community. We have been growing rapidly since the acquisition, as one family, to meet our vision for a decentralized future.”

But according to sources, this rapid growth is one of several reasons remaining staff are concerned about the acquisition.

The approximately 49-person company is hiring for at least 30 positions ranging from software engineers to recruiters, LinkedIn shows, and employees fear that the expansion Sun hopes to achieve will compromise the company’s working culture, which sources described as more relaxed prior to the acquisition.

Sources went on to tell CoinDesk that there is also unease amongst remaining employees about Tron’s marketing techniques and messaging, particularly with regard to the nascent state of their technology as compared to the way it has been marketed to consumers and investors.

Likewise, they said that BitTorrent staff members feel discomfort about the role of Tron entities in the blockchain’s node elections. Out of 27 total elected nodes, Justin Sun controls one and Tron controls four, though the nodes are named after different entities, specifically, BitTorrent, uTorrent, Peiwo and Raybo.

The Tron acquisition marks the latest chapter for BitTorrent, which has undergone multiple personnel shake-ups in recent years. The company laid off 12 employees in 2008 after its online media store product failed, and again in 2015 when it cut around 40 employees following a reorganization of the business.



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Author: Annaliese Milano
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Tron Founder Justin Sun Acquires BitTorrent after Legal Battle

BitTorrent Inc. has finally been acquired by Justin Sun, the founder of the Tron cryptocurrency. After a letter of intent went wrong, there were doubts the deal would go through.


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It all came to light last month when TorrentFreak first reported negotiations between BitTorrent — now renamed to Rainberry — and Justin Sun. At the time, no one really understood exactly what was happening, until eventually, Rainberry confirmed what TorrentFreak had uncovered.

From its investigation, TorrentFreak figured out Sun had sent a Letter of Intent to acquire Rainberry with a “no-shop” clause. This meant the torrent company was not allowed to negotiate any other deals while the letter was valid.

Rainberry eventually violated the clause and Sun ended up suing the company. However, on the same day the letter expired, Tron’s founder registered a company named “Rainberry Acquisition.”


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Variety now reports that Sun’s Rainberry Acquisition Inc. and BitTorrent’s Rainberry Inc. filed for a merger with the California Secretary of State, which suggested they had merged.
The same source confirms Sun has indeed acquired the torrent company, and Rainberry has even talked to its employees last week. Neither Sun nor Rainberry representatives have made any comments or official statements.

There are still no details available regarding the deal but if anyone in the crypto space can afford to acquire Rainberry, Sun can. The Tron Foundation reportedly hold $1.65 billion worth of TRX, though it’s not clear whether foundation-controlled funds were used to purchase the company.

Sun may have just saved the struggling firm. BitTorrent was once one of the hottest new projects in Silicon Valley, however, it failed to reach its potential. While the tool was once famous for allowing people to share pirated content, as soon as similar legitimate platforms became available, Rainberry lost much of its user base.

Two CEOs tried to save the company through different, creative ways — a Los Angeles production company was opened, as an attempt to venture into the media industry. The expansion was costly and a failure, leading to both CEOs being fired and the studio to shut down.

For those paying close attention to Justin Sun, they might’ve anticipated his interest in the torrent company. Tron’s whitepaper, for example, includes 8 unique references to BitTorrent.

Tron’s end-goal is to build a decentralized internet, allowing for blockchain projects to be created on it. Knowing of Rainberry’s peer-to-peer technology, it is very likely Sun might need it to realize his decentralized dream.

Although Sun has been very quiet about his deal with Rainberry, given his social media presence we can expect some sort of announcement in the coming days. It will be interesting to see how Sun plans to integrate Rainberry with Tron, though.



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Justin Sun, Tron (TRX) founder set to acquire BitTorrent, uTorrent

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Tron (TRX) has become one of the best well-positioned virtual coins in the current panorama for cryptocurrencies. This is a fact mainly attributed to amazingly deployed strategies of its head, Justin Sun, a businessman who parallel to Tron also runs the Peiwo APP, an equivalent to Snapchat in the Asian country, China.

Mr. Sun is one of the most widely acclaimed figures in the financial industry today, not only in China but the whole world. He managed to run a cryptocurrency just in times of severe regulations in Asia, and also he successfully achieved its positioning in the global market in a brief period. So what’s the key?

Well, it all seems to the point that Sun has a great entrepreneurial mindset, and his thoughts on expansion and innovations are just limitless. In this matter, the more recent idea of his is to somehow mix his cryptocurrency platform with the way torrents work, and everything seems to lead to the notion that he will soon acquire the giant of the sector, BitTorrent INC (the firm behind uTorrent, too).



Justin Sun’s acquisition of BitTorrent, Inc.
Justin Sun has set a vision with its cryptocurrency and platform which is to make the web space completely decentralized. So far he has implemented several strategies framed on this vision, including the latest creation and launch (occurring in 5 days) of Tron’s mainnet, one of the most awaited events in the crypto industry.

Along with this decentralization vision, Sun has established as well Tron’s interest in approaching somehow the Torrent industry, a fact that’s even mentioned on its whitepaper.
Apparently, the rapprochement occurred for the first time last year when he started negotiations with the BitTorrent inventor, Bram Cohen, but that’s something which actually didn’t result that well. The company which a year ago smoothly changed its name to Rainberry, seemingly incurred in a violation of a “No shop” clause arranged with TRON’s founder Justin Sun.

As a matter of fact, Sun took the case to the court alleging the now called Rainberry, told him they have had negotiations talks with other two companies that apparently offered a better deal. Regarding the case, the court dismissed the demand but as it seems Sun is not willing to let the opportunity go away.

Not so long ago, back in February of this year, the registration of a company called “Rainberry acquisition” was discovered, and the surprising part radicates in the fact that it was found to be registered in the name of no other than Justin Sun itself. Furthermore, the registration date casually matches the expiration date of exclusivity period established in the Letter of intent signed by the two parties previously.

This way, it all seems like Sun has not moved aside the idea of acquiring BitTorrent INC, a fact that even was confirmed by the disputed company in an interview for TorrentFreak.com. However, still nothing has been accepted by the CEO of TRON, hence in the meantime, we remain somewhat ‘expectatious’.

But as this stand right now, it all seems to point out to the fact that Mr. Sun is all set to acquire BitTorrent, Inc shortly. It will be interesting to see how both, BitTorrent and Tron TRX, go hand-in-hand once they are in the hands of the very same owner, Mr. Sun. And of course, even though, it’s still a rumor, the potential acquisition is going to enable the Tron’s TRX bull to keep charging further (alongside a decent number of other exciting news surrounding the coin lately).


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: MaxPositives
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