Earlier in June BitTorrent, a peer-to-peer network was officially acquired by Tron (TRX) Foundation and Justin Sun. Rainberry Acquisition Inc. carried the transaction for a huge price tag of $120 million in cash.
Feeling proud of its step, BitTorrent went on to Twitter to make things official and market the company immediately. In its tweet, it claimed to be the largest decentralized p2p protocol which is now working to develop the future of the decentralized internet.
After the new amalgamation, the crypto space has been full of speculations as to how Tron Foundation and Justin will appoint the p2p platform in the Tron Project. One should know that the BitTorrent team has also tried its hands in the Super Representative (SR) elections and also achieved a spot amidst the 27 SRs. The team displayed their joy through a tweet stating, “Our team just got elected as one of the 27 #TRON Super Representatives! We are looking forward to playing our role in the network stability and reliability. Thanks for your support!”
Change in the current team
In order to disperse the responsibility 16 new employees have been hired but five old ones voluntary quit the firm after the acquisition. The company revealed the situation by affirming that the five employees left the company “to pursue other paths like further education or new opportunities. Excited for more new team members to join us and make our vision a reality!”
On the other hand, the rumor mills suggest that the five departures occurred as the ex-employees were concerned about BitTorrent’s future under Tron as the new objectives were different than what they had signed for. As per the media reports, 2 of them were dismissed while the remaining three walked out of the firm on their own accord. Most likely 2 of them were in senior leadership positions- Head of Marketing and General Manager.
If we dig deep into the history of the business world, such an instance will seem to be fairly normal as Justin Sun is relentless about decentralizing the whole web. Also, Tron’s undertaking is a much larger decision BitTorrent employees were used to.
Meanwhile, Sun has been vocal about his tactics to integrate the new acquisition into the Tron ecosystem. He added that the basic feature of his company is to provide the most terrific services to its users. Thus, they have been continuously updating their product to be safer, faster and more reliable which runs on both mobile and desktop.
He informed that the development of Project Atlas is his main agenda right now which will be driven towards a fairer internet. The project is being worked upon with the help of BitTorrent and will improve the lifespan of their torrents’ swarms and reward peers who seed torrents. It will also be also be introducing more resources in the torrent ecosystem and work out for financial rewards in return.
All in all, Sun’s clear vision towards his goals and hiring of 16 more employees hints that the new undertaking is bound to decentralize the web.