Months after finally admitting he was a part of the group that snapped up Poloniex late last year, Tron founder Justin Sun appears to be using the once-dominant cryptocurrency exchange’s reputation to boost the credibility of his week-old stablecoin.
Tron CEO Justin Sun’s exuberant marketing skills may have come back to bite him again. And Tron (TRX) coin holders are along for the ride. Sun's Weibo account was shut down on Dec. 12, according to Dovey Wan, a founding partner at venture capital firm Primitive Ventures.
Tron is adding decentralized storage and a cryptocurrency-based reward mechanism into its BitTorrent peer-to-peer file sharing service. Adding the blockchain solution is a step in Tron’s long-term plan to create a privacy-focused, user-controlled, decentralized internet, the company said in a May 31 release. Tron’s new BitTorrent File System (BTFS) will be incorporated into the broader BitTorrent P2P network, which has 100 million monthly users. A distributed application (DApp) platform, BTFS will be used by BitTorrent users to receive, send, and host media files. BTFS will use the Tron-based BTT utility tokens launched on January 3 to reward hosts who store shareable files and provide bandwidth. The way BitTorrent works is…
