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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
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What is Libra?
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