BitTorrent has been sold to blockchain startup for an alleged $140 million

BitTorrent, one of the most recognisable brands in the world of decentralised computing and peer-to-peer networking, has been sold to a blockchain-focused startup - Tron - helmed by Justin Sun, formerly of Ripple Labs.

Tron's mission seems to be the creation of a decentralised internet computing platform aimed at entertainment using blockchain technology. The company's plans go beyond just the entertainment sector, however, with the hopes of becoming, perhaps, a real-life Pied Piper and creating a truly decentralised internet.

With this in mind, the BitTorrent acquisition does make a lot of sense, given the company is not only well-versed in the technologies necessary for decentralised, peer-to-peer networking through its software and protocols but also has a foothold in the entertainment industry via BitTorrent Now, helping independent artists and musicians promulgate their work using the same technology used to pirate the latest episodes of your favourite TV shows.

While initial reports about the sale do not mention a price tag, TechCrunch reports it sources suggest the company may have been sold for as much as $140 million, nearly $1 for each of its 170 million users. Neither Tron nor BitTorrent representatives were very forthcoming about what Tron's plans for the future of BitTorrent's technology are, exactly, but the same report from TechCrunch claims the move is aimed at shielding Tron's technology from allegations of plagiarism and for creating a potential mining platform for cryptocurrencies.

Source: Variety, TechCrunch

Thanks to Alif for the tip!

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