Tron CEO Justin Sun Offers Job to Former BitTorrent Employee Who Lost All His Life Savings After Death of QuadrigaCX CEO

Tong Zhou made a $422,000 mistake by deciding to keep all his life savings on one exchange, and Justin Sun is trying to help him out

Justin Sun, the CEO of Tron, is among those who are saddened by the current predicament of a former BitTorrent torrent employee Tong Zhou who turned out to be one of 115,000 clients of Quadriga CX. Now, Zhou once again gets the opportunity to join the BitTorrent team.


A $422,000 predicament
As Bloomberg reported on Dec. 11, Zhou, a software engineer who recently moved to Vancouver, deposited all his life savings ($422,000) to Quadriga CX to transfer them to a Canadian bank. However, since the death of the exchange’s CEO Gerald Cotten, nobody is able to access the funds. The exchange owes its customer more than 190 mln with Zhou among one of the largest affected clients.

Justin Sun comes to the rescue
Sun claims that he’s saddened by the news, and he is willing to give a helping hand Zhou by offering him a job at BitTorrent. That move resonated with multiple Twitter users who are praising Sun.


However, there is one man who’s definitely not going back to BitTorrent. As U.Today reported earlier, ex-BitTorrent exec Simon Morris lashed out criticism at Tron and Justin Sun who, according to Morris, doesn’t have a technical bone.


Source
Author: Alex Morris
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BitTorrent to Integrate Tron Tokens in New Incentive Model

Following its acquisition by blockchain startup Tron, peer-to-peer file sharing service BitTorrent will begin incentivizing users by paying them with its cryptocurrency tokens.
Tron announced Thursday that its forthcoming Project Atlas would connect BitTorrent and Tron, hoping to make the BitTorrent protocol faster for peers, as well as encourage both new and existing users to run the file sharing protocol for longer periods of time, according to a press release.

BitTorrent seeders, or users storing and sharing files being downloaded, will earn Tron’s TRX tokens for remaining online for longer periods of time, as well as for “dedicating more of their bandwidth and storage to ensure that swarms are faster and live longer.”
Moreover, users downloading content can pay seeders with tokens as part of this incentive program, the company’s website added.

Tron founder and CEO Justin Sun said the move is “the foundation for a new way of content distribution,” according to a statement.
He added:
“To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. It is adapted to the world we live in today: mobile, connected, and transparent. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users.”
The press release emphasized that because the Tron protocol uses Delegated Proof-of-Stake (DPoS) as its consensus mechanism, users will not be mining the token on their machines. Instead, token rewards will be “based on resources provided.”
The move appears to be optional – BitTorrent will still remain free to use, according to the press release.

Tron’s announcement comes a month after CoinDesk reported that several employees at BitTorrent had left the company, at least in part due to the direction it seemed to be taking under its new leadership.


Source
Author: Nikhilesh De
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Tron Is Working on a Custom Token to Power BitTorrent Platform

Tron Is Working on a Custom Token to Power BitTorrent Platform

Justin Sun, founder of the Tron Foundation, said that it would create a custom token to power the BitTorrent network. The intention is to provide users with a clear incentive to participate on the platform.

LIONBITA Custom Token for BitTorrent

Justin Sun announced that users sharing files on BitTorrent would be receiving a reward. The rewards would be related to the bandwidth they provide.

He went on:

“Project Atlas will connect the BitTorrent peer-to-peer network and the Tron blockchain network via a set of BitTorrent protocol extensions. A custom token and an in-client token economy will address existing limitations and open a new economy for the exchange for value for resources on a global scale.”

This project incentivizes users to continue seeding the file even longer after a download is complete.

Additionally, BitTorrent peers would also offer tokens to incentivize users to run clients on faster networks. Furthermore, they would seed torrents for a longer period of time. Participants would have faster download speeds and the network would work more efficiently.

TIPThe famous virtual currency Tron bought the decentralized file-sharing platform BitTorrent earlier this year. The purchase was valued at $100 million dollars. In addition, Tron has now rolled out the official release of the virtual machine.

“The launch of Tron VM means that Tron will start to translate from the basic infrastructure building to a new stage of the ecosystem expansion,” Sun commented.

During the last months, Tron provided a sandbox for users to test the Tron virtual machine and find possible bugs. After receiving the feedback, Tron made any changes necessary before its official release.

The new version of Tron’s mainnet is called ‘Odyssey 3.0.’ As soon as the code is available for cryptocurrency exchanges, nodes and wallets can start to upgrade.

At the moment of writing, Tron (TRX) is the 12th most important virtual currency in the market with a market capitalization of $1.67 billion dollars. Each token can be bought for $0.0253 dollars.


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Source
Author  Carlos Terenzi 
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