TRON

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.

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.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

Share
Published by
Ishan Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago