Charles Hoskinson, the Founder, and CEO of Cardano and the Co-Founder of Ethereum had stated BitTorrent as an example for scalability protocol during the Crypto ICO Summit.
The Founder of Cardano said that in the year of 2015, IOHK was contacted for solving ‘three grand problems’ of cryptocurrencies. The three problems are scalability, interoperability, and sustainability.
Charles Hoskinson said:
“So in terms of scalability, what do we want to do? do we have any examples of scalable protocolss? Probably used it. It’s called BitTorrent.”
The CEO of Cardano further explained why BitTorrent is scalable with the example of Game of Thrones and Pee-wee’s Playhouse. Charles stated that the download speed of Game of Thrones is very fast on BitTorrent and it is the ‘number one’ pirated show in the world. Whereas, the download speed of Pee-Wee’s Playhouse is slow because it is not preferred by many people.
“Well, why does it get faster? when people join a torrent’s swarm, they usually add resources more than they take. So more people, more resources, faster better performance. That is a really good distributed system. That’s why half a billion users. That’s why a third of all the internet’s traffic is carried by this protocol. It’s wildly successful”
BitTorrent, the biggest Torrent application in the world was acquired by the Tron Foundation in the month of July 2018. Although, the rumors of the acquisition have been doing its roundabouts in the cryptocurrency market since May 2017.
It is reported that Justin Sun, the Founder, and CEO of Tron Foundation, had reached out to BitTorrent for the same reason in the month of September, last year and filed a ‘letter of intent’ in the month of January 2018.
During an interview with Cheddar, the Co-Founder of BitTorrent, Ashwin Navin had stated that the platform was sold for almost $140 million to Tron Foundation. After which, the Tron Foundation confirmed the acquisition of the company. The Foundation stated that this was ‘the largest decentralized Internet Ecosystem’ in the world.
Currently, BitTorrent is a part of Tron Foundation’s Project Atlas. The project is going to be an integration of BitTorrent and Tron. The Foundation is working towards improving the BitTorrent protocol. They are planning to achieve this with the help of the Tron protocol. The main aim of this is to make the platform faster and lengthen the lifespan of the swarms. The Foundation also wants to improve the current Altruism of BitTorrent by integrating it with Tron network.
Moreover, Charles Hoskinson is not the only notable person in the cryptocurrency space who has spoken highly of BitTorrent. Satoshi Nakamoto, the creator of Bitcoin, whose identity remains unknown, has also mentioned BitTorrent on his mailing lists.
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