Acquisition Of BitTorrent By The Tron Foundation Officially Completed
Filing sharing software provider BitTorrent declared Tuesday that its procurement by the Tron Foundation is formally complete.
BitTorrent said it will now work from Tron’s new San Francisco offices and support the blockchain project’s worldwide advancement while proceeding to serve the guaranteed 100 million BitTorrent clients around the world.
As per the declaration:
“We believe that joining the TRON network will further enhance BitTorrent and accelerate our mission of creating an Internet of options, not rules.”
News of the imminent buy ended up open in mid-June when BitTorrent co-founder and previous president Ashwin Navin disclosed to CoinDesk that Tron was forking out $120 million for the firm.
The news incited speculation that after the merger BitTorrent may begin accusing clients of expenses in cryptocurrency. Be that as it may, as detailed, the firm wrote on its site that it has “no plans to change” its plan of action and won’t charge expenses for any of its services. Further, BitTorrent showed it has “no plans to enable mining of cryptocurrency now or in the future.”
As indicated by a report in Variety at the time, TRON owner Justin Sun started negotiating the securing of BitTorrent last September under a “no shop” condition, which kept BitTorrent from examining possible mergers with other potential purchasers. In any case, on May 25, BitTorrent purportedly damaged that clause and Sun filed legal paperwork to sue. The destiny of that claim is obscure.
Tron’s TRX blockchain-based token is currently the eleventh biggest cryptocurrency with a $2.4 billion market capitalization, according to price data supplier CoinMarketCap. In May, Tron began what’s known as a token swap, moving all TRX from ethereum to its own blockchain, named Odyssey 2.0.
