FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

Tron (TRX) was not alone; FileCoin, NEO and EOS tried grabbing BitTorrent too - Global Coin Report
Connect with us

Don't Miss

Tron (TRX) was not alone; FileCoin, NEO and EOS tried grabbing BitTorrent too

Published

on

Tron EOS NEO BitTorrent
READ LATER - DOWNLOAD THIS POST AS PDF

Needless to say, BitTorrent is an entertainment industry platform that uses a Peer-2-Peer file sharing system to serve all its users. Tron’s acquisition of BitTorrent is regarded as one of the major achievements of the Tron Foundation (and the CEO, Justin SUN). However, prior to BitTorrent’s acquisition by Tron, lots of other new cryptocurrencies courted BitTorrent long before Tron’s CEO, Justin Sun, decided to acquire it.

According to reports, it was discovered that NEO and the creators of Filecoin were also vouching for the purchase of the popular p2p platform, BitTorrent. It was also confirmed that more than just these two (NEO and Filecoin) were in talks with the file-sharing company.

BitTorrent, in one of its statements after its acquisition, stated that there were 6 companies showing interest and NEO was the main contender. Three companies placed a bid on BitTorrent, while the other three backed down. Nevertheless, reports haven’t shown that any person who was not in the world of crypto was fascinated on acquiring BitTorrent.

The rumor about Tron getting its hands on BitTorrent started last year. As a result of lots of other bidders, Sun himself placed a restraining order on BitTorrent to prevent other buyers from acquiring it. Then a few months later, Sun discarded the restraining order and succeeded to acquire BitTorrent, ultimately.

Subsequently, BitTorrent has had its struggles before it could be where it is today. The company made millions and recorded a huge success, but it couldn’t reach its goal of creating a safe mining system for cryptocurrencies; as result, it laid off some of its workers. BitTorrent also lost its creator, Braham Cohen, after it got acquired by Tron. Even with all these happenings, BitTorrent has recorded a huge success, and it now has more than a hundred million active users.

During the initial acquisition plans of BitTorrent by Tron, reports say that Sun met with David Chao, one of BitTorrent’s board members. Chao talked with Sun to acquire BitTorrent’s stocks too so as to let other stockholders not be left with nothing. For which, as it is clear now that Mr. Sun wasn’t interested.

Block.one, EOS’s parent firm, made $4 billion through its ICO (Initial Coin Offering), and as a result, BitTorrent met with Block.one to know if the company would be interested in buying it, but the CEO of Block.one, Brendan Blumer, turned down BitTorrent’s offer. Blumer said:

They approached us and solicited the organization, but we were not interested.”

There have been lots of information on why some crypto creators were interested in BitTorrent. In a statement to Coindesk, NEO said that it was hoping BitTorrent would come up with a type of protocol that would help in the decentralization of Dapps.

It was clear, that NEO and Tron were the most serious bidders among other cryptocurrencies that showed interest in BitTorrent.

After BitTorrent’s acquisition by Tron, Sun clarified his reasons for acquiring BitTorrent in an open letter. He said,

Contrary to speculations, the main reason for the acquisition isn’t BitTorrent’s more than 100 million users, and it isn’t for an amazing commercial opportunity

Sun stated that the reason was to create a decentralized internet for everyone. He further added,

the internet was decentralized when it was first created. Since Web 1.0 in the 80, we believed that internet services should be built upon an open protocol shared by the web community. Since then, we’ve created an open protocol standard like TCP/IP and HTTP. The World Wide Web has become a cornerstone of the entire Information Age and a basic service that we’ve come to depend on.”

It is seen that Tron aims to create a decentralized world with the acquisition of BitTorrent. Nevertheless, it is evident that Tron is not stopping here as the company plans to create more projects to help actualize its dream effectively.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by John Torcasio on Unsplash

Don't Miss

Is it legal to gamble in Bitcoin casino?

Published

on

Bitcoin casino
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.

Key facts on Legality in Bitcoin casinos

Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.

The necessity of Gambling License for Bitcoin casinos

In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.

There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…

Continue Reading

Don't Miss

How to Reach 100% Security of Online Transactions?

Published

on

security of online transactions
READ LATER - DOWNLOAD THIS POST AS PDF

The use of the global network for e-commerce operations requires ensuring an adequate level of security for all financial transactions carried out online. Each payment system uses the most convenient methods based on its capabilities and technical specifications. However, this doesn’t mean that you should only trust the system without adhering to general safety rules. For example, using ExpressVPN vs NordVPN or performing e-commerce operations or online trading in private networks will be a very good idea.

Online Security as It Is

The concept of information security means its resistance to accidental or deliberate impacts, the inadmissibility of destruction, distortion or disclosure to third parties, which can lead to material damage to the information owner. Here are some of the basic requirements that are to be adhered to:

  • Confidentiality – protection of information from unauthorized access is often provided by data encryption – conversion of text data into digital form, which can not be read without a special algorithm and a key;
  • Authentication – unique identification of the user. This often uses a login (domain name) and password, as well as additional confirmation, including one-time passwords or secret codes that are printed in a single copy for a given user password;
  • EDS – for the best data protection, electronic digital signatures (EDS) are used, which unambiguously determine that this information was received from a particular person who…
Continue Reading

Don't Miss

Is Unification (UND) XRP 2.0? IEO April 10th at UTC+8 on Bitforex!

Published

on

By

Unification
READ LATER - DOWNLOAD THIS POST AS PDF

Unification is a Hybrid blockchain solution for Enterprise. Above is my interview with CEO Neyma Jahan I explore what is Unification, how does a WRKchain actually work and why is this something people will quickly adopt. What is a really telling story here is that this is one of the few ICO/IEO/ITO etc… that actually is revenue positive which I honestly could not think of many others that were?

Neyma and team come from a background in real business, and they are focused on bringing blockchain adoption to the next level. They decided to go with the WRKchain or better known by some as a permissioned sidechain so that nodes can work together even if they do not like each other.

An example:

In education, we have tons of issues with plagiarism in universities and several, miss this and people write half copied thesis papers and get away with it. Imagine now for papers across Ivy league to Community colleges a system where professors come to a consensus about papers. Now also think of it this way those professors reading this paper all must read it, evaluate it, and come to a consensus. This will take out the professor knowing that student and give an honest overall evaluation. So each professor is basically a node. Then for each paper, there would be…

Continue Reading

Elite