The growth seen in the cryptocurrency sector, together with the increase in the use of the underlying blockchain technology, means that the industry must be continually innovative to keep up.
More often than not, he has involved this or that cryptographic project that seeks to rise above others. It is rare to find a founder or creator of a digital token that praises another, especially when it comes to a large business.
Still, this is what Charles Hoskinson, the founder of Cardano (ADA) and CEO of IOHK did. It may not have been a direct support of the TRX platform, but using it as an example indicates its place as an élite project.
Hoskinson, who is also co-creator of Ethereum (ETH), recently referred to the new acquisition of TRON, BitTorrent, as an illustration of a protocol that not only worked but was also highly scalable.
In its most basic interpretation, it means that the creator of Cardano recognizes that crypto can learn a lot from BitTorrent. So, Justin Sun and the TRON Foundation have done a sensible job? According to the sentiments of the respected leader Cardano, it is.
He talked about the platform as a good example of what decentralization is. He went on to stress that it is probably one of the platforms that everyone has used before.
"So in terms of scalability, what do we want to do? Do we have some examples of scalable protocols? [Everyone has] probably used it. It's called BitTorrent."
Charles Hoskinson, who has worked on several projects with his firm IOHK, said his team has started working on various issues related to blockchain-based projects since 2015.
He spoke in the margins of the ICO Crypto Summit, in which he noted that three main problems concern the cryptocurrency. Even the most important coins like bitcoin and ethereum have suffered the effects of these problems in one way or another.
These problems include scalability, which has led to the need for off-chain solutions such as Lightning Network for bitcoins and sharding for ethereum.
Other challenges to your company have been addressed to include interoperability and sustainability.
Charles compared the use of BitTorrent to download Game of Thrones and Pee-Wee's Playhouse. Being highly scalable, he noted that it is extremely fast when using BitTorrent to download the famous Game of Thrones.
According to him, this explains why the GoT is the most pirated show on a global level.
However, downloading Pee-Wee & # 39; s Playhouse is a bit slower due to its unpopularity. Explains:
"Well, why does it get faster? When people join the swarm of a stream, they usually add more resources than they take in. So more people, more resources, faster, better performance."
He went on to say that the speed and extensive use of BitTorrent make it an excellent example of a good distributed system.
"That's why half a billion users – that's why one-third of all Internet traffic is carried by this protocol." It was a great success "
Tron (TRX) and BitTorrent
Justin Sun and Tron Foundation acquired peer-to-peer file sharing platform at the start of the year for approximately $ 120 million through Rainberry Acquisition Inc.
The crypto plans to integrate BitTorrent into its Atlas project, helping to build the TRX network and decentralize the internet. With over 100 million users every day, the platform will help TRON to achieve its goal of democratizing the Web.
TRON's journey has just begun and still has a long way to go. However, with acquisitions such as the appreciation of BitTorrent in the industry, it is easy to see why the community remains optimistic about the potential for its token to gain in terms of market prices.