Justin Sun, the erstwhile CEO fo the Tron Foundation and creator of the TRX cryptocurrency has announced on Twitter that the next month will be a massive one for the fledgling cryptocurrency.
July is going to be a big month for the TRON community! On July 1st, we will celebrate the testnet launch of BTFS. July 8, BitTorrent Speed becomes available. And we’ve got more guests to announce #PowerofOneLunch with @warrenbuffett after that!
— H.E. Justin Sun🌞🇬🇩 (@justinsuntron) June 29, 2019
Among the highlights is the record-breakingly expensive lunch he has organized with renowned billionaire investment mogul Warren Buffet. Sun wishes to use the opportunity of sharing the table with Buffet to convince him of the worth of cryptocurrencies in general, and of Tron in particular – a move that had Twitter users trolling him for days. However, the round table that he is trying to put together will definitely increase the visibility of cryptocurrency among the elite investment gurus that still remain skeptical of digital assets.
IPFS, BitTorrent finally coming to the fore
PR and marketing aside, July is looking to be a spectacular month from a purely technological viewpoint as the BTFS testnet is set to be launched. BTFS is a specially developed file system protocol that is a fusion of BitTorrent and blockchain. It is a variant of the InterPlanetary FileSystem (IPFS) protocol which is a decentralized file system.
It allows people to both receive and host files on their computers in a way that is reminiscent of Amazon Web Services. One way to look at IPFS (and BTFS in turn) is like one immensely sizeable hard drive for the internet. Users would share their free storage to create one extensive file system that theoretically has no maximum.
What would users gain from this? Well, due to the nature of Tron, they could be paid for sharing their hard drive space with Tron, and this could, in turn, help the Sun-led blockchain reach more people and become prominent in the decentralized cloud computing space.
The platform will be called BitTorrent Speed and is something that has been in the works since before Tron officially bought out BitTorrent. It is what TRX supporters have been waiting for and could be the “killer app” that crypto enthusiasts have been waiting for. Many crypto experts believe that it is a platform that makes blockchain as a collective term as a social network, search engine, and web browser are to today’s people.
Good news picked up by traders amid substantial activity
All the Justin Sun’s releases and PR stunts have gotten heads turned in the trading markets. TRX, before the market tumbled yesterday, the native token of the Tron Blockchain saw a four-day increase that helped it to break into the top ten cryptocurrencies in the world – at least for a bit.
Tron and Cardano are still swapping blows when it comes to overall market cap, but should BitTorrent Speed prove to be a success; the price increase could become even more significant.
In fact, there are those who have unparalleled faith in the currency – a user recently purchased almost four million TRX in a landmark show of support for Sun’s brainchild. It helped push TRX above Cardano for the first time in a good long while.
The markets are primed to accept TRX (and Tron alongside it as a whole) into the big league very soon – and the upcoming month, July, could shape the future of the decentralized web in a way that will not be quickly forgotten.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.