Simon Morris, who was Bittorrent’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 there’s more marketing than technology behind the launch of the new crypto token.
BTT Transactions Will Melt Tron’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 won’t be able to handle the enormous transaction volume that’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 company’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 there’s “no way” the capacity of its network would be sufficient.