The company behind BitTorrent technology and the uTorrent client has a new owner. It was acquired by Justin Sun and his startup Tron, involved in one of the most valuable crypto-coins on the market.
The deal was closed for $ 140 million in cash, according to TechCrunch . Some shareholders are questioning the terms of the acquisition, but this is unlikely to be a hindrance – BitTorrent has been looking for a buyer for some time.
The BitTorrent protocol is the largest decentralized architecture on the internet, and moves up to 40% of the world’s traffic on a typical day.
Meanwhile, the company BitTorrent, Inc. did not have the same degree of success. She tried to position herself as a content creator, and even launched a platform for streaming audio and video called BitTorrent Now .
However, its name was closely associated with piracy, making it difficult to establish partnerships with copyright holders. So it has been making money from uTorrent ads, which can be problematic – trying to infect your computer with malware, for example.
In turn, Tron has created a Cryptocoin called TRX that is in tenth place in the market value ranking – a total of US $ 3.2 billion. Founder Justin Sun and the TRON Foundation are believed to hold half of that.
Sun has worked for Ripple, a company whose token enables fast money transfers between countries. And he has plans to use TRX as a means of payment within BitTorrent.
Tron is considering using BitTorrent’s peer-to-peer architecture and its 170 million users to mine crypto-coins, according to TechCrunch . In addition, it wants to “legitimize” its business: the startup was accused of plagiarizing FileCoin and Ethereum to develop the TRX.
The BitTorrent specification can be used for free, so open-source clients like qBittorrent and Deluge should not be affected. As for uTorrent, will it install a new miner on users’ computers?