Simon Morris, who was Bittorrentâ€™s chief strategy officer until July 2018, has expressed his doubts about the capability of the Tron blockchain to process the vast number of transactions that the popular file-sharing platform will demand. Morris believes thereâ€™s more marketing than technology behind the launch of the new crypto token.
BTT Transactions Will Melt Tronâ€™s Blockchain
Bittorrent is planning to become one of the first projects to offer its coin on Binance Launchpad, a platform developed by the leading cryptocurrency exchange to facilitate fundraising. The upcoming launch of the Bittorrent Token (BTT), a digital coin based on the Tron protocol, has delighted Tron investors who saw the price of TRX jump from around $0.02 to over $0.03 in the week following the announcement. It has since dropped to almost its previous level.
Not everyone is excited about the new crypto, however, as some skeptics doubt the peer-to-peer file-sharing platform needs the tokenization in the first place. After all, it has been operating for years without a dedicated digital coin. Others, like Simon Morris, think a token is a good idea but note that Tron wonâ€™t be able to handle the enormous transaction volume thatâ€™s needed to tokenize the Bittorrent network.
At Bittorrent, Morris was responsible for exploring the potential benefits of the implementation of blockchain technologies and cryptocurrency. In an interview with Breaker Magazine, he shared that when he was the companyâ€™s chief strategy officer (CSO), his team realized that tokenization could potentially make the platform significantly faster, for example, though automated auctions to prioritize download queues. The former executive believes Tron is trying to implement a similar concept but he thinks thereâ€™s â€œno wayâ€� the capacity of its network would be sufficient.
Marketing Machine on Thin Veneer of Technology
Simon Morris expects Tron to proceed with the plan to tokenize Bittorrent, regardless of the outcome, seemingly doing what his team was trying to achieve. â€œBut whatâ€™s very clear is that theyâ€™re going to say theyâ€™re going in the same direction, come what may, because thatâ€™s what Tron does â€¦ itâ€™s basically a marketing machine layered on a very thin veneer of technology,â€� he said.
The former Bittorrent executive who left the company after its acquisition admits that Tronâ€™s CEO Justin Sun is very strong at marketing: â€œHe has a very nice personality from a marketing point of view. He doesnâ€™t have a technical bone in his body. He wouldnâ€™t understand, technically, anything,â€� said Bittorrentâ€™s former CSO.
Thatâ€™s why Morris believes that the new BTT coin will be issued on a different platform. â€œI suspect that what theyâ€™re really going to do is theyâ€™ll do it on some central server, theyâ€™ll wave their hands and say, â€˜Oh, itâ€™s a Lightning Network for Tron,â€™ or something, and pretend itâ€™s Tron-based, but itâ€™s not really Tron-based,â€� he elaborated.
In the interview, Simon Morris talks about the accusations from last year that Tronâ€™s developers released a plagiarized whitepaper and used code without proper attribution. He also claims Tronâ€™s chief executive Justin Sun dismissed his suggestion to admit thatâ€™s what happened before moving on.
What are you expectations about the tokenization of Bittorrent? Share your thoughts in the comments section below.
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The post Tron Canâ€™t Handle Bittorrentâ€™s Transaction Volume, Former Exec Claims appeared first on Bitcoin News.
Tron Canâ€™t Handle Bittorrentâ€™s Transaction Volume, Former Exec Claims