Tron founder Justin Sun has announced via Twitter that the much anticipated decentralized storage system BitTorrent File System (BTFS) will go live on May 30th, in two days time. The system is the largest decentralized peer-to-peer (P2P) storage network of it’s kind with almost 100 million users.
Tron acquired the BitTorrent file sharing system in a groundbreaking deal in May last year following months of speculation that Sun was attempting to buy out the company. At the time, Sun announced his intentions to use the BitTorrent userbase to build one of the world’s largest decentralized peer-to-peer file sharing networks.
A few days prior to today’s announcement, Sun posted a tweet saying that something “huge and amazing” is happening with Tron and BitTorrent, promising to share the secret after June 1st. Following the tweet, the price of Tron’s TRX token surged by 12 percent, briefly moving it back into the Top 10 cryptocurrencies by market cap.
It is unclear if this fresh news of the BitTorrent BTFS launch is related to, or possibly specifically, the secret news Sun was intending to share on June 1st.
BitTorrent (BTT) token enters top 30 on CoinMarketCap
The BitTorrent token, BTT, has also reacted positively to the news, moving into the top 30 cryptocurrencies by market cap. Major cryptocurrency exchange KuCoin has helped to drive the price increase by adding a BTT/TRX trading pair to its list of services. The trading pair is aimed to go live next month.
The Tron Foundation continues its developments on the network, releasing its weekly report of updates last week. Key points include the decentralized application website DApp.review noting that Tron’s daily active users (DAU) reached a record high of 102,497
Tron (TRX) is currently trading at $0.0338, up 5.76 percent over the past 24 hours and with a market cap of $2.26 billion.