The recent news of Tron’s acquisition of BitTorrent has gotten people very interested in the company, and the price of TRX (which is the cryptocurrency associated with Tron) has been increasing ever since the news was let out.
Tron launched a Main-net at the end of last month, and by all accounts, it was very successful. For those of you who aren’t sure what a Main-net is, we can tell you that blockchains usually have a Main-net, which is the one that transfers their cryptocurrency, and a Test-net. As the name implies, this is only for initially testing the blockchain.
We are now waiting to see the token movement from the ERC 20 to the new blockchain protocol. While this was going on the news came down that Tron bought out BitTorrent for the sum of $140 million. This has been in talks for a while, but the recent report of the buyout has been published. While there are still details yet to iron out, and the shareholders are still yet to set this in stone, it is highly unlikely that this acquisition will not go through at this point.
Starting on the 21st of this month, the token migration will begin from the ERC 20 to the new Odyssey blockchain. This is a massive boost in confidence for Tron investors, and anyone else looking to invest their money into this company. It is probably also a good thing for the market as a whole because it will introduce some more hype into the market that is now down under $400 Billion as of this writing. The hope is that soon cryptocurrency will soon stabilize and bounce back up.
What we don’t know is how Tron expects to use this partnership, and exactly what plans it has for its growth. Tron recently was heard to say that they plan to use this technology to “legitimize” its business. Many people initially thought that Tron was just a scam because its white paper didn’t inspire a lot of confidence in the company as some of its partnerships seemed to be fake. This is probably all about Tron trying to prove themselves to the world and show that they mean business when it comes to the cryptocurrency space.
BitTorrent can boast 170 million users across their suite of products, which is rooted in the entertainment industry as a peer to peer communication protocol (P2P). Their products allowing people to transfer files over the internet, and usually used for transferring things like TV shows, movies, music, etc. P2P is collectively able to claim some 43 to 70 percent (as of 2009) of all internet traffic worldwide, and Tron, it seems, wants to have an entertainment powerhouse cryptocurrency dominating that network. So, for the investors in Tron, this is huge news that shows their investments may soon pay off richly.
So, for those interested in putting their money into cryptocurrency, who are daunted by the recent flatline activity of the industry, take heart as this could be one of those sparks that gets the fire burning hot again. If one was going to bet on which cryptocurrency to put their money on this one might have what it takes to get investors genuinely interested.