Cliff Edwards, the director of communications at Tron, revealed that the company's strategy is to improve on the shortcomings of its major competitors Ethereum and EOS. This revelation comes after TRX recently ousted XLM as the 8th largest cryptocurrency.

According to Edwards, Tron is operating in a similar way to electronics giant company Apple. Cliff noted that Steve Jobs was not an innovator. Rather, he specialized on producing products with better features than those offered by rival companies. As a result, Apple developed software that was vastly superior to what others offered.

The acquisition of BitTorrent is the first step in Tron’s quest to emulate the approach that made Apple so successful. The two companies will work together to introduce BTT utility tokens, a development that Edward believes will promote the mass adoption of virtual currencies. By the end of this year, Tron aims to get ahead of EOS and Ethereum and forge partnerships with leading companies such as Facebook and Netflix.

Regarding the issuance of BTT coins, Edwards stated that it will not be an ICO. He instead called the event a crowdfunding initiative that is facilitated by the Binance Launchpad. Binance Launchpad is a project that sources funding for blockchain-based products from the users of the Binance crypto exchange.

Last week, TRX surpassed XLM to become 8th most valuable digital assets as per market cap value. This confirmed the statements made by Justin Sun, the founder of the Tron Foundation, XLM was not deemed as a worthy competitor to TRX.

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