Unknown to many, the desire to acquire BitTorrent was not only cultivated by Tron (TRX). Several other cryptocurrencies such as EOS, FileCoin and NEO have also expressed their interest in buying the entertainment industry platform.
BitTorrent is a platform renowned for the entertainment industry. His file sharing system is peer-to-peer and this is how he serves his crowded users.
The fact that the Tron Foundation was able to acquire them is considered an important prowess. But before Tron bought BitTorrent, many other cryptocurrencies also indicated interest in the acquisition of the platform. In fact, many of them have shown interest before Justin Sun, who is Tron's CEO, has indicated the interest of his foundation.
According to some reports, the creators of FileCoin and NEO have also studied seriously to get the P2P platform. And even though these two were the most important contenders with Tron, reports say that several other criptos have even opted to buy it.
In his official statement after it was purchased, BitTorrent says that you are a company that has come forward to buy it. And among these, BitTorrent has identified NEO as the main contender. As the race progressed, three companies threw in the towel while three remained. And expected, all those who have shown interest in BitTorrent have been encrypted.
Tron Eventually Acquiring BitTorrent
Rumors have begun to enact that Tron acquired BitTorrent at the beginning of last year. The bid for the purchase of the P2P platform was so competitive that Tron's CEO had to get a restraining order on the platform. The order was to ensure that another buyer outside Tron had not purchased it. In the end, the Tron Foundation of Sun obtained the platform.
Before now, BitTorrent has had several challenges. Of course, he recorded a couple of successes and made several million, but failed to meet his statutory goal. This goal was to ensure that cryptocurrencies have a secure security system. This failure meant that BitTorrent disengaged many of its workers.
BitTorrent's creator lost his job as soon as the platform was sold. Despite the drastic changes that have occurred recently, the platform continues to record huge successes.
While the talks were still ongoing on the sale of BitTorrent, there were reports claiming that Sun of Tron had meetings with David Chao who was a member of the board of BitTorrent. The essence of that meeting as a report is to convince Sun to also purchase the BitTorrent shares. The argument is that doing so would guarantee other shareholders something. Surely, with recent events, it is certain that Mr. Sun is far from being interested in this.
On the arm of EOS, block.one has grossed around $ 4 billion in its initial money supply business (ICO). As such, BitTorrent also came up to see if it could buy BitTorrent. Unfortunately also the CEO refused the offer.
Because many Cryptos seemed interested in BitTorrent
Several reasons were cited for the reason why many creators of cryptography wanted to buy BitTorrent. For example, Coindesk quoted the NEO saying that he joined the race to buy BitTorrent because of some hope. This hope was that BitTorrent would probably develop a protocol that would help decentralize the Dapps.
Not too long, everyone could see that from the other cryptocurrencies, only Tron and NEO had a serious interest in BitTorrent. And when the buyer eventually emerged, Tron's CEO did not have too many words about why he acquired BitTorrent. His letter for reason contains these words:
Contrary to speculation, the main reason for the acquisition is not more than 100 million BitTorrent users, and it's not for an extraordinary business opportunity … The Internet was decentralized when it was first created. Since the 1.0 web in the 80s, we believed that internet services should be built on an open protocol shared by the web community. Since then, we have created an open protocol standard such as TCP / IP and HTTP.