Justin Sun, the mastermind behind Tron, made headlines with his purchase of BitTorrent.

The creator of the talked-about cryptocurrency Tron has now taken over the leading peer-to-peer file exchange network. BitTorrent for an as-yet undisclosed sum.

BitTorrent’s top brass has acknowledged the acquisition, and sources have verified this through various news channels, even if the price remains a mystery.

While specific figures and purchase details aren't public, the confirmed acquisition has certainly stirred conversations within the crypto community, spotlighting Sun, a polarizing figure often seen as either a visionary or charlatan depending on whom you consult. Justin Sun Back in the era of the early internet, 2001 to be exact, a New York tech wizard came up with the protocol which eventually led to BitTorrent, aiming to make it easier to share files directly between users. He honed his skills with a precursor project called MojoNation, dropping out from his academic pursuits at SUNY Buffalo. MojoNation laid the foundation by breaking files into encrypted portions distributed across networks. The real trick Cohen introduced was optimizing this method, ensuring rapid, varied source downloads, made sweeter with a sharing requirement that naturally boosted download speeds as more shared.

Peer-to-Peer Pioneer

BitTorrent quickly made a name, although not always for legal reasons, mostly because it helped circulate larger pirate files like films and music. Cohen, however, insists that piracy was never his intention, though in tech circles, BitTorrent often became synonymous with just that. Bram Cohen Evaluating BitTorrent’s worth has always been complex due to its dubious uses. Founding BitTorrent Inc. in 2004 with nearly $9 million in capital, Cohen’s creation had a loyal user base of over 170 million monthly at one point, yet struggled financially despite several innovative attempts.

Bittorrent website as it looked in 2005, Image from Archive.org

As observers from Wired magazine saw it, BitTorrent found itself in a predicament; its primary users weren't keen to pay. To overcome this, it dove into new music and file-sharing services without notable success. The downturn escalated when DSJ, its successor, failed to fulfill a $10 million obligation, leading to office shutdowns and mass layoffs, although BitTorrent continued launching projects like BitTorrent Live.

With BitTorrent's notoriety in the tech arena, Justin Sun seems aptly suited to lead.

Sun's name rose swiftly in crypto circles, partly thanks to Alibaba’s Jack Ma selecting him for an elite entrepreneurial program at Ma's extremely selective university. He later led PEIWO, a Chinese voice streaming service used by millions, and acted as a front face for Ripple Labs, known for its stringent crypto and banking protocol.

Sun Is Rising

Tron (TRX) aspires to be a versatile platform akin to Ethereum, focusing on content management. Its total supply, even by crypto yardsticks, is immense at 100 billion TRX. Despite this, its market stature remains strong, with a valuation nearing $3 billion as of mid-2018, ranking it among the top crypto contenders according to CoinMarketCap.com.

Both Tron and Sun evoke strong reactions within cryptocurrency circles. Allegations have surfaced that parts of Tron's white paper were borrowed without permission, which Sun attributes to translation errors. Ripple .

Then came Tron Sun addressed critique over the alleged plagiarized sections via Twitter, insisting the original document was in Chinese with full references, clarifying that volunteers' translations lacked crucial details and references.

Read our guide to Tron TRX

However, some crypto analysts remain unconvinced, particularly due to claims of borrowed code in Tron's development.

Additionally, Sun has faced backlash over hyped advertisements of partnerships, inaccurately hinting at a potential link with Alibaba unrelated to his educational ties, thereby sparking skepticism.

Sun has carved out a role as a relentless promoter, a badge he wears openly. Debates rage on whether he's simply hyping up Tron, with its large market cap, disputed white paper, and limited tangible partnerships. Cryptocurrency forums abound with users questioning Tron's credibility—this despite its noteworthy position in the crypto realm.

The rationale behind Sun acquiring the challenged BitTorrent remains unclear. While strategically, both BitTorrent and Tron share a peer-to-peer inclination, the purchase's practical benefits remain speculative. It could be that BitTorrent represented an inexpensive investment within Sun’s PR strategies.

Public reactions were predictably upbeat, yet some questioned why Sun opted for personal acquisition rather than through Tron Foundation, indicating underlying skepticism regarding the potential BitTorrent tokenization. A user voiced a common challenge for BitTorrent, contemplating why someone would pay for services that have long been free, highlighting the age-old issue of incentivized downloading. field.

Details and Devils

Another user raised concerns about the backlash from promoting monetized sharing of copyrighted material, fearing legal consequences for turning user activities into commercial enterprises.

Reactions to the buy on the Tron Reddit forum Speculation runs rampant on what lies ahead for both BitTorrent and Tron. The deal price remains undisclosed. And while Sun’s route via personal purchase raises questions, potential collaborations with Tron might still be in the pipeline.

Whether any resulting collaboration ultimately transforms the profitability of peer-to-peer exchange is still up for debate.

Editor-in-Chief of Blockonomi and leader of Kooc Media from the UK, who is a strong advocate for Open-Source Software, Blockchain Tech, and fair digital access.

His insights get cited by towering names like Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch, and more. Reach [email protected]

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References

1. https://www.financemagnates.com/cryptocurrency/news/founder-tron-cryptocurrency-quietly-acquires-bittorrent/
2. http://history-computer.com/Internet/Conquering/BitTorrent.html
3. https://www.wired.com/2017/01/the-inside-story-of-bittorrents-bizarre-collapse/
4. https://www.forbes.com/profile/justin-sun/
5. https://coinreviews.io/tron-review/
6. https://www.reddit.com/r/Tronix/comments/8qg60l/possible_trx_bittorrent_integration/