$ 2 billion Tron burnt tokens: TRX20-based incentive mechanism announced for BitTorrent users


Justin Sun, founder and CEO of Tron Foundation, recently appeared in a live stream to talk about the progress of the Project Atlas. He also announced that Tron has burned about 98% of all ERC20 TRX tokens, which translates to around 97 billion tokens in total.

During the live stream, Justin stated that the Tron network has continued its growth for the 95 days since its launch. According to the founder, the network gained more users in its first 95 days compared to what was done by Ethereum in 2015.

Burning the tokens was the main focus of the event, as Justin talked about burning coins. At the current TRX price, the total amount of burnt tokens translates to about $ 1.94 billion. These coins have been sent to an address from which they can not be returned, effectively removing them from circulation.

Justin also showed an updated version of Tron Wallet for iOS and Android, along with two new game DApps built on the Tron network.

As for Project Atlas, which is the codename for the integration of BitTorrent into Tron, Sun has announced a new integration. This was for the inclusion of a new TRX20 token in Bittorent, designed to encourage users to share files and increase overall download speed. This was also said by Justin Sun, who stated:

"[BitTorrent] it will offer faster downloads, more seeds, no mining and compatibility with previous versions. It is adapted to the world in which we live today: mobile, connected and transparent. We aim to finally empower all content creators and their communities by eliminating brokers and allowing content creators to distribute them directly to the user. "

Justin also pointed out that users can use the torrent client without the changes mentioned above, with an option to take part in tokenization.

In addition, features will be sent to mobile, desktop and third-party torrent clients. Justin Sun also clarified that BitTorrent want stay free, along with the freedom to upload everything users want.

With the tokenisation of the network, peers will be able to pay other users with faster Internet connections to incentivize them. This, in turn, will push them to seed the torrents, making them faster. On the other hand, seeders can also earn tokens by dedicating bandwidth and space for faster swarms.

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