In a letter to the Tron (TRX) community, Justin Sun confirmed earlier reports that the Tron Foundation had acquired the popular file-sharing platform known as BitTorrent. This was however not a surprise for many crypto-enthusiasts had noticed that the file-sharing platform was an integral part of the Tron’s whitepaper having been referenced 8 times.
In the announcement, Justin stated the following:
“I am proud to officially announce that TRON has successfully acquired BitTorrent and all BitTorrent products. From this day on, BitTorrent, whose software has been installed on billions of user devices, will become part of the TRON ecosystem, making TRON the largest decentralized Internet ecosystem in the world.”
With this acquisition, the Tron ecosystem automatically adds the 150 Million active BitTorrent users around the globe. The platform was at one time responsible for 40% of the total global internet traffic. BitTorrent was the pioneer decentralized platform that gave back power to the users of the internet rather than in the hands of a few corporations. In this sense, both BitTorrent and Tron make a world-class team to further decentralize the web.
So how will Tron (TRX) become a top 5 coin thanks to BitTorrent?
The number of active users on BitTorrent number 150 Million with 15 – 27 Million using the platform at any one time. The total number of monthly users may be estimated at more than 250 Million. A lot of individuals and organizations use the network to distribute their own licensed work.
With this numbers, one can postulate that the owners of the content will probably want to earn from it. This means that once the two platforms are integrated, TRX will be the currency for payment of that content. Imagine sponsoring a few extra episodes of Game of Thrones with a new plot twist using your TRX. With decentralization, viewers can vote on what idea or content should be on the next episode. Voting will require some TRX, right? This means the greatest fans will stock up on TRX to have the ability to stake more coins for voting.
It is with such activities of voting for content, or even paying for someone’s licensed work, that TRX will be used as a medium of exchange. This means that each of the 150 Million active users of BitTorrent will be out looking for TRX driving up demand. With demand comes an increase in the price of TRX to the much awaited $1.
A $1 TRX means that its market capitalization will get to $65.75 Billion and placing it well above Ethereum to take the number 2 slot on coinmarketcap.com. Even a $0.50 TRX value will place it above XRP with a market capitalization of $32.875 Billion.
In conclusion, the 150 Million active BitTorrent users who will be added to the Tron ecosystem will be key in driving up the demand for the digital asset as outlined above. This will, in turn, enable TRX to dethrone a few of our other favorite coins on the way to the top.
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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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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