BitTorrent to Integrate Tron Tokens in New Incentive Model
BitTorrent users will soon be able to receive Tron's tokens as rewards for maintaining files online for extended periods of time.
Following its acquisition by blockchain startup Tron, peer-to-peer file sharing service BitTorrent will begin incentivizing users by paying them with its cryptocurrency tokens.
Tron announced Thursday that its forthcoming Project Atlas would connect BitTorrent and Tron, hoping to make the BitTorrent protocol faster for peers, as well as encourage both new and existing users to run the file sharing protocol for longer periods of time, according to a press release.
BitTorrent seeders, or users storing and sharing files being downloaded, will earn Tron's TRX tokens for remaining online for longer periods of time, as well as for "dedicating more of their bandwidth and storage to ensure that swarms are faster and live longer."
Moreover, users downloading content can pay seeders with tokens as part of this incentive program, the company's website added.
Tron founder and CEO Justin Sun said the move is "the foundation for a new way of content distribution," according to a statement.
The press release emphasized that because the Tron protocol uses Delegated Proof-of-Stake (DPoS) as its consensus mechanism, users will not be mining the token on their machines. Instead, token rewards will be "based on resources provided."
The move appears to be optional – BitTorrent will still remain free to use, according to the press release.
Tron's announcement comes a month after CoinDesk reported that several employees at BitTorrent had left the company, at least in part due to the direction it seemed to be taking under its new leadership.
BitTorrent image via Piotr Swat / Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.