On the occasion of SF summit, a crypto YouTuber named Ben Armstrong with a channel name BitBoy accepted that he was all set to make fun of Tron on his YouTube channel until the company purchased BitTorrent ( a media/file sharing platform). Now the BitBoy has to accept that the Tron is worth attention. The niTROn Summit is organized in San Fransico.
Sure, the company’s over-the-top marketing attracted many allegations (Vitalik Buterin accused TRON of plagiarizing others’ plans and work), BitBoy said. But when the company purchased BitTorrent, it changed the game and perspectives of people. The summit reflected this change in perspectives.
Tron has had many memes and been through the hype in its journey so far. But with this acquisition of BitTorrent, the company is sure that it will overcome the crypto adoption issues.
Justine Sun told media that BitTorrent is a different game, the company already has 100 million active users ad it will be the huge challenge for its competitors.
This is a P2P platform which allows users to download files in pieces. Multiple users can download the various pieces of the files and share them back on the network. If everyone downloads different pieces at the same time, they can all get the file close equally fast.
In other words, here, the users are in fact bartering bandwidth with each other. As per TRON, barter systems work well; however, the company’s BitTorrent thesis is that, if the company adds a unit of value, the BitTorrent Token (BTT), will help run the system even better.
This was the overall gist of the presentation given by Justin Knoll, who is now leading Project Atlas. It is the name for Tron’s venture to introduce and promote BTT to the people.
Knoll said that BitTorrent works magically. A person can have unlimited data without bearing any cost. However, there are a few loopholes. The unpopular or less searched content might not be available on the platform. He said that the company could do better than this. The company can actually motivate people to provide rational incentives to seeders.
He further added that as the company uses the most popular user interface for BitTorrent, it can introduce the option of using tokens to a large portion of the user base.
Recently, Binance also published a few details on the planned sale of the BTT token. It will be selling 6 percent of the BTT supply from 28th this month. It would start with a $7.2 million hard cap, the spokesperson of Binance said.
Plus, TRX holders will receive 10.1 percent of BTT tokens in coming six years. Sun said that Tron holders could expect the first airdrop in February. Though TRON is seemed to be successfully finding its way through the issues, a few critics are not ready to believe in the company’s bright future projection.
Many critics have claimed that Mojo Nation also had introduced a file-sharing protocol using digital cash, but it failed. But TRON has a simple answer for why its plan could work.
BitTorrent allows Tron to associate with a known and established name. Justin Sun and NBA legend Kobe Bryant. The core objective of the appearance of the NBS star was to associate Tron with a well-known name simply.
Bryant didn’t say anything about the TRON reflecting an in-depth knowledge about the company, crypto or blockchain. But the Q & A section with Bryant was the most attended part of the summit, and apparently, that exactly was the motto of the introduction of an NBA star.