Justin Sun, the CEO and Founder of Tron Foundation spoke about the utility of the BitTorrent token [BTT], during the recent livestream on the official Youtube channel. The CEO also spoke about the projects that claim to provide the same solutions as Tron and the difference between the projects.
The CEO stated that introducing the reward mechanism in the BitTorrent protocol is the very first utility of the BTT token. He went on to say that the Foundation is considering to expand decentralized storage bandwidth and embed the decentralized application into BitTorrent network for the future. He said:
“So this is just the first step. I think in the future BTT will definitely have like a more user case and become even I think the one of the largest decentralized user case in the world.”
This was followed by Justin Knoll, the Project Lead of Project Atlas stating that at present the white paper focuses on accelerating BitTorrent downloads. He stated:
“so if someone has a torrent and you want to get pieces of it you can get it more quickly with the token but that’s bandwidth right. That’s bandwidth for BitTorrent uploads, you could imagine something where instead is storage where if you want to store something persistently you can ask people in a swarm to store pieces and exchange for incentives”
Knoll went on to say that BitTorrent is that “vehicle” to release it initially to a giant audience, which is summed up to be around 100 million active users on a monthly bases. Furthermore, Sun spoke about other projects claiming to provide the same solution, stating that the user base of most of these projects is way less compared to Tron’s, adding that the Tron telegram group has more active users.
The Founder went on to say that this time there is a massive difference between Tron and other projects, mainly because of the BitTorrent protocol as it has “hundred million” users every month. He said:
“So, this is a real huge user case and I think the the network effects also play in this industry for sure right. BitTorrent and Ethereum they achieve like a huge success and it’s because everybody in the world used the blockchain to transfer the protocol, to transfer the tokens stuff like that.”
He stated that this is the same with BitTorrent as well, adding that they will have a higher chance to succeed when the decentralized applications are introduced to the industry.
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