BitTorrent and uTorrent team release new streaming service, uTorrent Web
Just when everyone thought torrents were dead, BitTorrent and the uTorrent team have released a new version of uTorrent called the “uTorrent Web”. The new service by uTorrent allows users to directly stream content from the browser without requiring to leave the browser.
Majority of torrents downloaded through the open internet is video-based content. uTorrent Web makes it possible to quickly download and play torrent files inside the browser (Imagine like a free Netflix). The uTorrent Web has been available as a beta but today has been marked as a stable release.
The news was first announced on Tron’s official Twitter handle. Tron is the parent company of BitTorrent. Justin Sun had acquired BitTorrent for $120 Million.
The @BitTorrent and @utorrent teams have been working extremely hard on a new product called µTorrent Web over the last couple of months. We're excited to launch a simple, web-based product that allows quick download to playability! https://t.co/q8HUTuLWbT
— TRON Foundation (@Tronfoundation) September 4, 2018
Tron’s grand plan with BitTorrent
It is widely speculated in the blockchain industry that Tron plans to incentivize the torrent files “Seeders”. Seeders are users that upload parts of a file (called pieces), which are then merged in the downloader’s client. Currently, seeders do not make money through seeding the content, everything is community driven. Tron plans to change that by bringing an incentivization structure.
BitTorrent is widely considered as the backbone of the decentralized internet. Peer-to-Peer file sharing constitutes a majority of internet bandwidth.
BitTorrent and NEO’s bid
Tron wasn’t the only party interested in BitTorrent. According to an exclusive story covered by Coindesk, Tron’s closest competitor, NEO, too bid to buy BitTorrent. NEO’s bid was $170 Million, $50 Million more than the Tron’s deal. But ultimately, BitTorrent shareholders found Justin Sun’s offer better than NEO’s.
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