BitTorrent Is Launching Its Own Cryptocurrency on the Tron Network

BitTorrent, which pioneered peer-to-peer technology for sharing files on the internet, is creating its own cryptocurrency.

Issued by the Singapore-based BitTorrent Foundation, the new BitTorrent Token will run on the tron protocol, developed by Tron, which acquired BitTorrent in June of last year.

The plan to issue a token follows the announcement of Project Atlas, which BitTorrent revealed at the end of August.

As Sun explains in a YouTube video, the user has no incentive to keep a file on the network once they have finished downloading.

A Tron spokesperson confirmed that the company will not be taking a cut of those transactions.

A spokesperson for Tron declined to give more details about the airdrops.

More details about Tron and Project Atlas will be revealed at a summit Tron is hosting later this month in San Francisco.

Prior to the acquisition last year, BitTorrent approached several companies about buying it, but only Tron followed through.

Shortly after the takeover by Tron, CoinDesk reported that staffers were leaving BitTorrent.

Since the acquisition, Rogelio Choy, CEO of BitTorrent at the time, has transitioned to a role as general manager, according to a Tron spokesperson.