BitTorrent is a peer-to-peer file transfer protocol for sharing large amounts of data over the Internet, in which each part of a file downloaded by a user is transferred to other users. Bram Cohen co-started the corporation BitTorrent Inc. in 2004, after which the promising startup lifted tens of millions in funding and produced thousands and thousands more by way of promotion.
is a Blockchain startup founded by the Chinese entrepreneur Justin Jun. The company has issued its own crypto-currency, dubbed TRX, which has a market cap of $1.4 billion at the time of writing.
Cohen announced the move in a short e-mail conversation with TorrentFreak. TorrentFreak could not reach Cohen at his @bittorrent e-mail but managed to get in contact using an alternative address. When asked if Cohen no longer has an official position within the company BitTorrent, Cohen said that this is correct. When asked if Cohen is still involved with Tron, Cohen mentioned that he has nothing to do with the cryptocurrency. He did not want to comment any further. On his Twitter profile Cohen mentions that he is busy with ‘cryptocurrency stuff’, with which he most probably refers to his position at
At the end of July, it was announced that BitTorrent had been successfully acquired by the entrepreneur behind the TRON cryptocurrency, Justin Sun. The acquisition reportedly involved a payment of 140 million dollars in cash. After the announcement of the acquisition, Justin Sun spoke about ‘freeing the internet from the stranglehold of large companies’ and he shared his vision of a free, transparent and decentralized network.
TRON plans to integrate with BitTorrent, bringing 100 million new users to its platform. TRON has previously stated that integrating BitTorrent will help “legitimize” their business, but exactly how, is still a work in progress. It appears that TRON’s aim is to monetize BitTorrent traffic; one way that can work is by paying TRX to seeders.
One thing is for sure: BitTorrent’s integration with Justin Sun’s blockchain ecosystem will go on without its founder.
