The Tron project recently held its summit, in San Francisco, United States. This was a very anticipated event by Tron community members in particular, but by the cryptosphere at large as well.
Among the conference’s speakers were Kobe Bryant (yes, the NBA star who also happens to be a venture capital investor and expert since he owns a company in the industry) and Justin Sun, the project’s founder and Tron Foundation’s CEO.
So what did we learn from the summit? Four very interesting things. Let’s dig in.
Tron bought BitTorrent a few months ago. Why? Because it offers a lot of content to its users, and it has around a hundred million monthly users the world over which makes it the world’s largest decentralized network. So BitTorrent is in line with Tron’s ambition to decentralize the web, especially when it comes to content management.
The BitTorrent network will merge into Tron‘s blockchain and main net. That’s what Mr. Sun has called Project Atlas, and the new BitTorrent will have a new client application, which will be called “BitTorrent Speed”.
The news is that BitTorrent speed will be available during Q2. It will become the world’s largest blockchain application almost instantly. And it will use a Tron-based token (TRC10 technology) called BitTorrent Token (BTT) to incentivize users so they seed their files for longer times. Yes, you will be able to earn BTT just by leaving your BitTorrent speed on while you sleep, for instance.
The blockchain version of BitTorrent promises to be way faster than the standard version. It will be very interesting to see how many BitTorrent users will join the crypto verse through Tron.
The Tron Foundation opened a brand new office in Hong Kong.
The Foundation was incorporated in Singapore and it has offices in Beijing as well. But Hong Kong remains an important hub and link between continental China and the rest of the world, so Tron’s new place in the island-city can only help its presence in the world at large.
Tron has now deployed 200 decentralized apps. That’s a lot of development done in a very short time interval (barely seven months) which means they know how to incentivize developers to create new software or to move it to Tron from other projects like Ethereum.
Of those apps, 142 use the blockchain’s native token (TRX or Tronix). There are more than three thousand developers involved in creating new apps. If you are wondering why only 142, the reason is that many apps have issued their own Tron-based tokens for internal use and for trade at Tron’s decentralized exchanges.
The network’s growth is of 20% weekly, which is exceedingly impressive and, at that rate, it’s going to leave EOS behind very soon.
Token market performance
Tronix went from 11th to 9th in market capitalization in just the last few weeks. It’s quite a remarkable achievement for any blockchain project to keep growing when most of the cryptosphere is shrinking, losing value, and many projects are surviving by their nails.
And that’s not all. According to projections shown at the summit, by year’s end, TRX will become the world’s fourth-largest coin.
You could think that some of the announcements are a bit overoptimistic. But you should keep in mind that this is a project that so far has delivered in each and every promise it’s made. So don’t be surprised if all those statements become true over the next few months.
Image courtesy of PixaBay.