Back in mid-June, news spread like wildfire that Justin Sun and the Tron Foundation had officially acquired the peer-to-peer file sharing platform of BitTorrent. The details of how Justin and the team at Tron were going to integrated the platform and its 150 Million users, was not yet known at that time.
What was known was that BitTorrent was key to decentralizing the web according to Justin’s vision as outlined in the Tron Whitepaper. Some fans had even noted that BitTorrent had been mentioned eight times on the document.
The Revelation of Project Atlas
At the end of July this year, Justin and his team unveiled Project Atlas that would kick-start the integration of the BitTorrent platform onto the Tron Ecosystem. Since then, the team has updated continuously on the secret project including during the Tron Virtual Machine (TVM) launch on the 31st of August.
How BitTorrent will Work on the Tron Blockchain
Project Atlas is meant to usher in a new era of content distribution. By using the BitTorrent protocol extension, a custom token, and an in-client token economy to address existing limitations, the team aims at changing how users can exchange value for computer resources on a global scale. The BitTorrent protocol has always had a system to incentivize users, and the Tron blockchain provides a gateway on how to do it.
Justin Sun would further explain the project as follows:
Project Atlas is the foundation for a new way of content distribution. To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. It is adapted to the world we live in today: mobile, connected, and transparent. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users.
Users will have the option of providing tokens to uploaders in exchange for faster download speeds. BitTorrent peers will be able to offer tokens to incentivize other users to run clients on faster networks and to seed torrents for more extended periods. This will lead to better swarm longevity and faster download speeds for all swarm participants.
Users will also be able to earn tokens for continuing to seed files after a download is complete. That then means the token economy will be based on resources provided and not mining.
Justin Knoll, Project Atlas Lead, explained this further:
Project Atlas is an evolution of torrent technology, not a revolution. With TRON’s blockchain expertise, our growing development team of seven people expects to ship the first features in the coming month.
The Tron Foundation and BitTorrent will be sharing more information about Project Atlas in the coming days and weeks. The first of these events will be on the 28th of September, 7 pm, PST. The livestream will be available on the Tron Foundation twitter page.
In conclusion, this new development has provided the much-needed clarity as to whether TRX will be used inside the BitTorrent protocol. With a custom token to fuel operations on the BitTorrent protocol, this then means it will be created on the Tron network and through the different incentives of Project Atlas, users can accumulate these tokens.
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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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
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