Tron (TRX) Is Creating a Custom Token to Power the BitTorrent Network
Tron founder Justin Sun says a custom token will be created to power the BitTorrent platform and give users a powerful incentive to participate in the network.
According to Sun, users who share files on BitTorrent will earn the token based on how much bandwidth they provide.
“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 of value for resources on a global scale.
With project Atlas, users will earn tokens for uploading, incentivizing them to continue seeding the file longer after the download is complete. Storage and bandwidth will be infused into the torrent ecosystem, causing a rising tide of high availability and longer torrent lifetimes.
BitTorrent peers will offer tokens to incentivize other users to run clients on faster networks and to seed torrents for longer periods, leading to better swarm longevity and faster download speeds for all swarm participants…
Users who participate will exchange tokens with each other on a basis of the resources provided – not mining.”
Tron bought the legendary decentralized file-sharing platform BitTorrent back in June, reportedly for more than $100 million.
Sun made the big announcement during the platform’s latest live stream celebrating the impending release of the Tron Virtual Machine.
Tron plans to begin rolling out the official release of its VM today – giving developers a suite of tools that will allow them to create and execute smart contracts on the network.
“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.
In the past months, we have provided a sandbox for the global community to test the TVM and find bugs. According to the feedback we have received on the tests, we have done some adjustments accordingly.”
The virtual machine is part of the new version of Tron’s mainnet, which is dubbed “Odyssey 3.0.” Once the code is available, nodes, crypto exchanges and wallets can begin to implement the upgrade.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.