Blockchain platform Tron, which is behind the decentralized, net targeted cryptocurrency tron TRX, introduced plans to develop a BitTorrent-based model of decentralized file system InterPlanetary File System (IPFS). The improvement was shared in a press launch with Cointelegraph on May 30.
Per the discharge, the BitTorrent File System (BTFS) is a variant of the aforementioned open supply IPFS software program and can “enable customers to obtain and host storage on their computer systems with different people and companies.” Internal testing of the BTFS protocol reportedly already began in late May. Justin Sun, founding father of Tron and — because the acquisition in June final yr — CEO of BitTorrent, commented on the event:
“We’re making a platform with BTFS, BitTorrent Speed blockchain integration and the BTT utility token to let customers rapidly and privately work together with one another all over the world and not using a intermediary or authorities intervention.”
The launch cites an unspecified 2018 research performed by the McKinsey Global Institute, which allegedly claims that “5,750 of the world’s largest personal and public corporations with income of $1 billion or extra discovered that the highest 1 % of these corporations captured 36 % of the financial revenue.” The creator of the announcement, alternatively, claims:
“A decentralized web would create a situation the place a few of these earnings, from advertisements gross sales, information assortment and different means, are shared again to individuals who choose in to massive corporations’ enterprise fashions.”
As Cointelegraph reported on the finish of March, BitTorrent had introduced that it’ll launch the general public beta model of its decentralized social media app BitTorrent Live in Q2 2019.
However, in January, Simon Morris, former chief technique officer at BitTorrent, mentioned that Tron won’t be able to handle the transaction quantity wanted to tokenize BitTorrent. In response, a Tron spokesperson advised Cointelegraph on the time that “actions and execution will show louder than the phrases of a disgruntled former worker.”