Ever since the launching of the mainnet on June 25th Justin Sun, the CEO and the founder of TRON foundation, has been sharing some great news regarding the overall development of the foundation.
The news involved the launching of the first TRON Virtual Machine constructed to allow the transfer of decentralized applications for Ethereum platform to TRON network, that way somewhat posing a threat to Ethereum in the domain of taking over the dominance over the Dapp market.
Moreover, TRON (TRX) is working on creating Web 3.0 the next generation of the internet, for which BitTorrent plays a massive role as one of the largest platforms for data sharing. In one of the most recent announcements from Justin Sun, it was stated that the data sharing service has reached a milestone of 1,000,000 active users that are involved in sharing data via BitTorrent on daily basis.
In the spirit of utilizing the power of sharing and harvesting technical capabilities that BitTorrent possesses, here is everything you wanted to know about Project Atlas.
TRON (TRX): What to Expect from Project Atlas
Project Atlas was first announced approximately a month ago, with the latest update on the project being released on September 28th. During the official launch of TRON Virtual Machine that took place on August 31st, Justin Sun announced the secret project called Project Atlas.
During this occasion, the CEO of TRON foundation stated that the project will be revolving around the tokenization of BitTorrent platform, that way creating what Sun described as “borderless economy”.
Project Atlas is set to merge the TRON network with BitTorrent platform consequently developing a token economy for a peer-to-peer in-client token economy where the main objective is to finally enable incentivized economy for BitTorrent users.
Upon purchasing BitTorrent service, Sun also announced that BitTorrent is not planning on changing their policy of work and operations, which means that the platform will continue to function in the same manner as before with some updates on the side of TRON foundation that ought to introduce the rewards for users and officially merge the service with the network.
In this scenario, all users utilizing their bandwidth for seeding different data and content to other users that are downloading that same content should be rewarded with TRON units that they can later on the exchange, hold or use where applicable.
The ability of BitTorrent to support over 1,000,000 active users on daily basis within its data sharing service was also announced as a victory by Sun, who is known to be proactive in the sense of hyping the community of Tronics within his frequent Twitter posts.
Additionally, Sun and BitTorrent have a mutual agreement that prevents the service from accepting a higher offer from another buyer, exclusively tying the service to Justin Sun and TRON foundation, which is pretty logical since BitTorrent should play a major role in the development of TRON foundation as well as the adoption of TRX.
Along the way, Sun also announced the arrival of BitTorrent Web that should be out any time soon.
The news also seems to be a very effective boost for the price of TRX as TRON has shown some notable progress against the fiat during a rebound on October 7th, now loading the information on CoinMarketCap that TRON keeps the market cap of the 11th largest currency in the market with 1,56 billion dollars.
Justin Sun Shares an Update on the Project Atlas
At the end of September of the current year, Sun shared updates on the Project Atlas that was previously dubbed “secret”, with a clear objective to bring TRX to use through this platform.
In his recent update, Justin Sun explained that the download time on this service should be faster thanks to the merging of TRON network and BitTorrent platform, alongside with having faster seeding without the need for mining.
With the new updates, it is stated that the users of the data sharing service should be able to gain access to premium services that BitTorrent should now offer, which means that the tokenization of the platform will allow these users to utilize TRX rewards in order to enable faster download speeds.
Sun added that the inspiration for the Project Atlas was directly drawn out from the Cryptography Mailing List as published back in 2008 by the anonymous father of Bitcoin (BTC), Satoshi Nakamoto, addressing the statement that inspired the project:
“For transferable proof of work tokens to have value, they must have monetary value. To have monetary value, they must be transferred within a very large network – for example a file-trading network akin to BitTorrent.”
Since seeders should be incentivized with TRX units for providing faster download speeds and a faster lifespan of torrents, it is expected to see TRX progressing in the domain of mass adoption as well