Guess Which Blockchain Company Just Bought BitTorrent?
A 2017 blockchain startup by the name of Tron, just bought BitTorrent, the popular file sharing device. The details of this takeover are still not known to the public but both sides have released official statements confirming the news. It is being predicted by TechCrunch that Tron shed close to $126 million in cash to procure BitTorrent. The company’s staff is being retained and word is that they will work from Tron’s head office in San Francisco. An official tweet from the company’s side read
What does @Tronfoundation 's big takeover of #BitTorrent mean for its #future…???#bitcoinnews #cryptocurrency #CryptoNews #btcwires #WednesdayWisdom #AI #ML #DL #crypto #ico #BigData #MT https://t.co/mrSEhi39Hm
— BTC Wires (@btc_wires) July 25, 2018
Just last month, BitTorrent had stated that they don’t intend to change the way things work and neither do they wish to charge consumers for the services they charge. They even said that they have no immediate plans to allow users to mine cryptocurrency on the site. Now Tton has the TRX cryptocurrency, but at the moment their intentions are unclear regarding BitTorrent’s future.
What we are certain of now that this collaboration would in no way adversely affect the userbase of both the companies. BitTorrent has more than 100 million active users and they won’t have to pay for any base service for now. However, the future is not set in stone. The nature of this collaboration is still blurry and Tron could go either ways in terms of moving ahead. Either they could focus on new BitTorrent products or they could promote their own products on the site.
BitTorrent has faced a constant low phase for a while now and this acquisition could turn out to be the burst of life that they need.