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

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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.

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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

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How Cryptocurrencies Will Change Online Gambling in the Future

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Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

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“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

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