The biggest and most popular peer-to-peer software technology known as BitTorrent is, reportedly, being bought by blockchain company Tron for a whopping $140 million in cash.

The deal between BitTorrent and Tron CEO Justin Sun had been spreading over the internet within the past month. While speculations were only limited to the deal itself and devoid of any figures or any solid evidence, paperwork received by shareholders can finally confirm the deal’s actual price tag.

TechCrunch reported that a hefty sum is being distributed to shareholders in cash coming from both Sun and the company. The source claimed that BitTorrent has been trying to sell its assets for quite some time. With that said, there’s a big chance that any other dispute within BitTorrent Inc., regarding their deal with Tron, will, most likely, be overlooked.

Now that the acquisition is in place, the question now is: what will become of BitTorrent and how will Tron utilize one of the most popular peer-to-peer software? Sources claimed that the program’s peer-to-peer technology could be used for cryptocurrency mining, based on what one of the shareholders is suggesting.

Some speculate that BitTorrent’s future lies in its involvement in cryptocurrency mining. Others, on the other hand, believe that it will be utilized for Tron and its very own TRX cryptocurrency.

Despite the recent acquisition and numerous speculations, it seems like BitTorrent won’t be changing its services any time soon. According to BitTorrent’s official blog, it was stated that there will be no plans for cryptocurrency mining “now or in the future.”

The company stressed that they are still committed to their users and that they will continue innovating their brand and products. The blog’s statement read:

“BitTorrent has no plans to change what we do or charge for the services we provide.”

Regardless, it seems like the company went through some slippery slopes within the past months. Blokt, previously, reported that the company had changed its legal name to Rainberry Inc. and that the abrupt change was nothing more than just a business decision. It seems like there’s still more to this deal than what meets the eye.

The post BitTorrent Being Bought For 140 Million In Cash By Tron [TRX] and Its Founder Justin Sun appeared first on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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