Tron [TRX], the ninth-largest cryptocurrency in the market, has been creating a buzz in the crypto space through their announcements and updates. Justin Sun, the founder and Chief Executive Officer [CEO] of Tron, has been at the forefront of the developments, ensuring every piece of news reaches the Tron community.
Tron had acquired BitTorrent in 2018 with an aim to create the largest decentralized ecosystem on the planet, a tie-up which resulted in the creation of the BitTorrent [BTT] token. The BitTorrent Foundation recently revealed more details regarding the BitTorrent airdrops for Tron holders.
The report released by BitTorrent stated:
“On February 11th, 2019, BitTorrent Foundation will initiate its first airdrop of BitTorrent (BTT) to TRON (TRX) holders. The snapshot will be taken when TRON’s block height reaches 6.6 million*. Based on this snapshot, BitTorrent Foundation will initiate its first airdrop of 10,890,000,000 BitTorrent (BTT), corresponding to 1.1% of total circulating supply.”
BitTorrent has also said that over the course of the year, 11,880,000,000 BTT will be offered to TRX holders. Following this airdrop, 12,870,000,000 BTT will be deposited via airdrop in 2020. BitTorrent also added:
“If you are holding TRX, you will be eligible for BTT airdrops. All official wallets relaying on TRON’s network and carrying TRX will be eligible for BTT airdrops corresponding to the amount they are holding. No minimum of TRX is required to qualify for BTT airdrops.”
The airdrops will be conducted automatically, regardless of whether the TRX tokens are frozen or not. BitTorrent has not given a list of exchanges that will support the airdrop, with the list still in the pipeline. The organization has said that the exchanges will be confirmed soon.
BitTorrent has been on a roll with other announcements such as a proposed live stream feature to be launched this year. The Tron Foundation had said:
“If everything goes as planned with #BTT, #TRON is expected to launch BT’s livestreaming feature in 2019.”
With the development, BitTorrent will be in direct competition with popular streaming platforms like YouTube and Twitch. The announcement was made during the niTron Summit, Tron’s first flagship conference. Officials from the company also said that Tron will be playing a key role in connecting the BitTorrent protocol to its users, which will enable downloads and uploads to occur faster.
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