Tron Is Working on a Custom Token to Power BitTorrent Platform
Justin Sun, founder of the Tron Foundation, said that it would create a custom token to power the BitTorrent network. The intention is to provide users with a clear incentive to participate on the platform.
A Custom Token for BitTorrent
Justin Sun announced that users sharing files on BitTorrent would be receiving a reward. The rewards would be related to the bandwidth they provide.
He went on:
“Project Atlas will connect the BitTorrent peer-to-peer network and the Tron blockchain network via a set of BitTorrent protocol extensions. A custom token and an in-client token economy will address existing limitations and open a new economy for the exchange for value for resources on a global scale.”
This project incentivizes users to continue seeding the file even longer after a download is complete.
Additionally, BitTorrent peers would also offer tokens to incentivize users to run clients on faster networks. Furthermore, they would seed torrents for a longer period of time. Participants would have faster download speeds and the network would work more efficiently.
The famous virtual currency Tron bought the decentralized file-sharing platform BitTorrent earlier this year. The purchase was valued at $100 million dollars. In addition, Tron has now rolled out the official release of the virtual machine.
“The launch of Tron VM means that Tron will start to translate from the basic infrastructure building to a new stage of the ecosystem expansion,” Sun commented.
During the last months, Tron provided a sandbox for users to test the Tron virtual machine and find possible bugs. After receiving the feedback, Tron made any changes necessary before its official release.
The new version of Tron’s mainnet is called ‘Odyssey 3.0.’ As soon as the code is available for cryptocurrency exchanges, nodes and wallets can start to upgrade.
At the moment of writing, Tron (TRX) is the 12th most important virtual currency in the market with a market capitalization of $1.67 billion dollars. Each token can be bought for $0.0253 dollars.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites, with over 2,000 articles published.