The founder of Tron cryptocurrency, Justin Sun has come out quite bullish on the project that recently launched its mainnet saying that “TRON is 80 times faster than Ethereum.” Tron Foundation also recently announced the successful acquisition of BitTorrent: One of the most popular peer-to-peer file-sharing networks in the world. BitTorrent has over 14 years of serving over 100 million users spreading across 138 countries. Justin’s tweet reads:
“TRON is 80 times faster than Ethereum. With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world!”
BitTorrent software installed on millions of user devices and became part of the Tron ecosystem, therefore, making Tron the largest peer-to-peer network in the world. BitTorrent was launched in 2001 and has since gathered tremendous experience as a file sharing communication protocol. The platform works on the basis of a peer-to-peer sharing economy. It is generally seen as “the first decentralized Internet protocol with a large-scale global application. Even today, the BitTorrent protocol retains its status as the world’s largest decentralized protocol, once transmitting 40% of daily Internet traffic.”
The file-sharing network, BitTorrent is often regarded as the pioneer of the original decentralized technology. Its foundation is built on pillars such as transparency, openness and shared Internet protocols. A section of the acquisition announcement on Tron Foundation Medium reads:
“The BitTorrent acquisition embodies TRON’s “All-In Decentralization” strategy. TRON and BitTorrent share the same vision for a decentralized Web. I believe BitTorrent will gain new life from integrating into the TRON ecosystem, and TRON will continue BitTorrent’s protocol legacy.”
Tron intends to make good of BitTorrent experience and influence to liberate the internet from the hands of corporations. This is line with Tron’s vision of giving the power on the internet back to the users while embracing the benefits of a free, transparent peer-to-peer network.
In other news, Tron is launching its Virtual Machine in exactly two days. The Tron Virtual Machine (TVM) will contribute to the growth of the network by supporting the development and execution of smart contracts and decentralized applications. It will have support for multiple programming languages to give the developers an easy time when working on decentralized apps. Significantly, TVM will initially be compatible with Ethereum Virtual Machine (TVM) and later with EOS Virtual Machine (EVM).
Tron Price Overview
TRX/USD is trading at $0.0364 at the time of writing. The upside has been capped below $0.0380 in the last one week. Besides, Tron price tested the support at $0.033 before staging a recovery that was short-lived and halted by the bear pressure in the market at the end of this week. There is a bullish trend in progress at the moment, similarly, technical indicators sight bullish movements in the short-term. TRX/USD is also trading within a contracting triangle pattern pending a breakout. The price is immediately supported by the 50 simple moving average on the 4-hour timeframe chart while the 200 simple moving average is limiting the gains at $0.0037.
TRX/USD 4-hour chart