BitTorrent founder offers tips to help Tron [TRX] reach the top
When Tron [TRX] bought BitTorrent for $140 million last month, the crypto enthusiasts couldn’t stop talking about it. Now BitTorrent’s co-founder Ashwin Navin has said that Tron should give incentives its 170 million users in exchange for their computing resources.
The peer-to-peer file sharing platform, BitTorrent, was one of the first players to adopt decentralised computing architecture to store and distribute data.
“I would say that BitTorrent for a lot of reasons was a pioneer in distributed computing. And we know that the crypto space is built around decentralization and creating incentives for consumers to do certain things. In the case of BitTorrent you’ve got hundreds of millions of people who have made their computers available for making files available. And so, what I imagine you could do if you’re a blockchain company is you could then incentivize people with more than just free content. But maybe there’s financial incentives for making your computer available for people who want to pay for it,” Navin said in an interview with Cheddar.
Navin said that Justin Sun’s Tron should take advantage of BitTorrent’s massive user base in order to take decentralization to new heights. He pointed out that media is a cost prohibitive market and through its latest acquisition, Tron could come up with a new form of media altogether, “writing the next chapter for BitTorrent.”
“What decentralization did is it reduced and lowered the barrier to make yourself a producer of content. And before there was Facebook Live and YouTube, peer-to-peer computing became the distributed computing fabric for making files available that would have been cost prohibitive otherwise. Today, we have great channels like Cheddar which have a very low barrier to make media available, but there are still computing challenges that require lots of computing power, and I think that’s going to be the next chapter for BitTorrent.
If I was in the driver’s seat there, I’d be thinking about how do I turn what is a very large file sharing community into a group of people willing to do more with their computing resources,” he said.
BCFocus reported earlier that Sun had started talking about BitTorrent acquisition around September last year. The letter of intent to acquire it was signed in January. The deal was however held up as BitTorrent started talking to additional bidders. It led Sun to file a temporary restraining order mentioning that BitTorrent agreed to not pursue any other offers. Later, he dropped the lawsuit and went ahead to register a company known as Rainberry Acquisition Inc. Strangely, BitTorrent also changed the name of its corporate entity to Rainberry Inc. around the last year’s beginning. Variety reported last week that a week before the acquisition has been closed and staff has been notified of the deal.
Image via Shutterstock
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