After months of rumors, Tron’s CEO Justin Sun has acquired BiTtorrent, the peer to peer platform for file sharing. At the moment there are no details of the cost of the acquisition
According to Variety magazine, the CEO of Tron started negotiating with the platform in September 2017, but stopped when Justin learned that the exchange platform was listening to other offers.
Last May, TorrentFreak Web revived the rumors of Justin’s acquisition of BitTorrent by informing about the actions both companies were taking which showed signs of them merging together.
On one part Justin Sun registered a company called Rainberry Acquisition Inc, meanwhile BitTorrent changed the name of its corporate entity to Rainberry Inc. at the beginning of last year.
Finally, the deal between both parties was closed last week.
What is BitTorrent?
BitTorrent was created in 2001 by programmer Bram Cohen and in 2012 had more than 150 million users.
With this program users can share and download files simultaneously, with the benefit that instead of downloading files from one place, they connect to different users of the network to download.
The BitTorrent network consists of:
- Peers: Users of the BitTorrent network
- Leech: Users that download a file but do not have it complete.
- Seed: User who shares a complete file.
- Tracker: Server that allows users to connect with each other.
On June 11, the cryptocurrency exchange announced the Token Swap support on Tron’s Mainnet (TRX) and will also add the TRX / USDT pair.
“Binance will support the Tron (TRX) Mainnet Token Swap and will suspend withdrawals for Tron (TRX) starting from 2018/06/24 0:00 AM (UTC). Binance will handle all technical requirements involved for all users holding TRX. Please note that even after the TRX Mainnet comes online, if you choose to deposit ERC20 TRX tokens into your Binance account, we will continue to complete the token swap for you.”