Justin Sun, founder of the IDG Capital and China Equity Group-backed TRON initiative that is dedicated to decentralizing the way the Internet operates, is analyzing the purchase of peer-to-peer software developer and network BitTorrent.
TRON is in the process of launching its proprietary blockchain technology and network which will replace its use of the Ethereum blockchain for its own TRX cryptocurrency and other applications. Acceptance of the project has grown since it’s initial coin offering (ICO) and has grown over time to a US$4.7 billion market capitalization at which it stands today.
BitTorrent, which is said to have over a hundred million users, has in the past had various parties wondering why the company hasn’t grown to a billion-dollar tech giant company. This controversy has had many people questioning the management of BitTorrent.
Sometime last year, BitTorrent had renamed into Rainberry. Though the management said it was just a management decision to do that, new evidence shows it could be in line with the acquisition by Mr. Sun.
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