Last month, in July, we received the news that Tron Foundation headed by Justin Sun, one of the largest startups in the cryptocurrency world today, had bought BitTorrent and all the tools that are part of the company, such as uTorrent and others. And now, Bram Cohen, the inventor of BitTorrent and co-founder of the company, has abandoned the ship, preferring to focus on working on his own cryptocurrency.
Bram Cohen has always been more interested in the technical side of everything than in business, and it seems that he had long ago given up on BitTorrent, a company that he could never really capitalize on despite his various attempts at monetization, other than advertising.
The founder of BitTorrent is now busy trying to make a cryptocurrency that’s not an energy disaster
Currently, he is investing all his time and efforts in ChiaNetwork, in particular, aiming to create a blockchain technology that is demanding less energy consumption than the current ones, as Bram has criticized a lot the fact that crypto mining for coins such as Bitcoin (BTC) is an energy and environmental disaster.
Now, with Chia, Bram Cohen basically wants to create a “green cryptocurrency.”
“I have no relationship with Tron,” said Bram Cohen when asked about his involvement in the new Tron’s project regarding BitTorrent.
BitTorrent ends up a cycle of its life and emerges into a new one along with Tron (TRX)
After the acquisition of BitTorrent by Tron Foundation, Justin Sun, founder of the startup and Tron (TRX), didn’t take long to comment on his future plans, which include not only “improving” the BitTorrent technology by integrating it with Tron’s, but also the future plans of encouraging seeders to pay with cryptocurrency, more specifically with Tron (TRX).
With Bram Cohen entirely out of the project, BitTorrent will undoubtedly end up a cycle of its life and emerges in a new one ruled by Tron. Only time will tell if it will succeed in the new direction it is going on, but ultimately, it will never be what it was for the Internet industry.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.