The company BitTorrent, the operator of torrent-client uTorrent, is in the process of acquiring the founder of TRON Justin San. This writes TorrentFreak.
This year Justin San BitTorrent sued in court for breach of No Shop provisions (prohibition to accept offers of purchase from other persons), which was contained in the signed in January a Declaration of intent. After the signing of this document, according to the lawsuit, David Chao from BitTorrent, Sana, announced that the company received three excellent bids from other companies.
BitTorrent the company last year changed its name to Rainberry, although, according to its Director of product Jordy Berson, it should be viewed as purely a corporate decision, not aimed at a change of brand (similar to how the company Alphabet most people know as Google). Rows of execution of the Declaration of intention ended at the end of February, and San has already registered a holding company called Rainberry Acquisition. However, the BitTorrent confirmed that the acquisition is not yet completed. Justin San, in turn, did not respond to a request for comment.
TRON, the main network — Tron — will be launched in five days, has a market capitalization of $4.6 billion and today it ranks ninth in the ranking of cryptocurrencies on CoinMarketCap. TorrentFreak notes that the launch of the core network is aimed at decentralization of the project and the torrents mentioned in the white paper, TRON, compatible with BitTorrent.
However, the Creator of BitTorrent, Bram Cohen announced last fall plans to create their own cryptocurrency Chia, which will solve “problems of centralisation of bitcoin”.