The decentralized internet startup TRON is in the crypto news lately for the announcement of the fresh details of its bid to integrate with the torrent client BitTorrent. The news was first reported in a press release this Thursday, September 27th, two months after the plans went public.
TRON, which acquired BitTorrent in July this year (for an undisclosed amount), is currently planning to use its TRX token within the platform’s user base and therefore create a hybrid content sharing ecosystem which leverages cryptocurrency.
The project is dubbed “Project Atlas” and its changes will probably come in the form of a series of “backward compatible protocol extensions” as the press release shared.
As the founder and CEO of TRON, Justin Sun stated:
“To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users.”
As the arrangement outlines, the users will be able to create incentives with tokens as a means of obtaining premiums such as faster download speeds. Those who continue to seed torrent files after completed downloads can also earn tokens as a reward.
With this, TRON promises a further rundown of the features of Atlas in a presentation that is scheduled for September 28th.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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