BitTorrent, widely considered to be one of the earliest companies to implement a decentralised computing architecture for storing and distributing data, is reportedly being sold for a cool $140 million in cash to Justin Sun, the owner of blockchain startup Tron.
While rumours had been circulating for a month now, the sale was only finalized last week.
A Closer Look
As per reports released by TechCrunch, shareholder meetings are currently underway and due to some disputes in relation to the terms of the agreement, some economic issues have arisen amongst stakeholders.
It is estimated that BitTorrent currently has around 170 million customers who actively use a suite of products offered by the company– with the main one being BitTorrent Now. Not only that, officials over at BitTorrent also claim that the platforms’ protocols move as much as 40 per cent of the world’s Internet traffic on a day to day basis.
— Marius "not giving away ETH"🏄♂️ (@LandM_Marius) June 12, 2018
Tron in this regard is a new player and as per its official whitepaper, the company’s vision is to build “a truly decentralized Internet and its infrastructure,” which also includes the creation of a native crypto token, the TRX.
However, no official statement has been made in regards to how Justin plans to use BitTorrent.
Founded in 2004 by Bram Cohen and Ashwin Navin, BitTorrent was one of the first platforms to commercialise peer-to-peer networking technology as a way of sharing and storing personal data.
Considering how far we’ve come in terms of conjuring decentralised network architectures today, it will be interesting to see how Tron will benefit from this latest acquisition.
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