Justin Sun Officially Announces Project Atlas
Justin Sun, the CEO of Tron officially announced the much awaited ‘secret’ Project Atlas. He talked about it at the official launch of the Tron Virtual Machine on August 31, 2018. This new project will involve the TRON blockchain’s integration with the recently acquired BitTorrent platform.
The aim of Project Atlas is to connect BitTorrent’s peer-to-peer network with Tron’s blockchain and therefore establishing an in client token economy for developing a new ‘borderless’ economy. This is to address the issues currently being faced by BitTorrent’s current content distribution model.
#ProjectAtlas-the project that will connect the BitTorrent peer-to-peer network and #TRON‘s blockchain. Want to know more? Check out the details on our new site! Sign up for the newsletter to receive the latest updates. https://www.bittorrent.com/project-atlas @BitTorrent @justinsuntron.
Justin Sun gave an in-depth breakdown of the Project Atlas during the launch of the Tron Virtual Machine and gave specifics about the project. Using BitTorrent protocol extensions, Project Atlas will incentivize users for active participation in the BitTorrent network through rewarding users who seed torrents using tokens.
During the Tron Virtual Machine Launch Justin Sun explained,
After the BitTorrent acquisition, we have identified a strong work ethic that embodies the spirit of the technology and the innovation. Since the end of June, 16 outstanding colleagues have joined us. Half of them are former engineers at Facebook, Google, Tencent, Alibaba, Airbnb and other top internet companies. They will work on Project Atlas.
Some of the social media responses to this announcement are as follows.
Looking forward to it. Great work so far!
Ogh it’s going to be great :))
This is a great Project .. can’t wait
@Frostwire tweeted with a question for Tron and its future plans.
We are a BitTorrent client with millions of users, we also care about cryptocurrency integration, will you be working with other client devs on BEPs for such protocol extensions and Tron wallet integration. it’d work best if all clients are compatible.
Users can also contribute to the Project Atlas ecosystem by including both storage and bandwidth and consequently enhancing torrent availability and lifespan. According to Sun, the core principles of the Project Atlas are drawn from Satoshi Nakamoto’s statements about the value of transferable proof-of-work tokens published in 2008. He stated that proof-of-work tokens should leverage the network effects of a large-scale network such as file trading, which can be compared to BitTorrent’s model.
In his description of Project Atlas’ architecture, Sun further added that a new custom token will be created to address the existing limitations of the BitTorrent network and allowing the 100 million users of BitTorrent to transact in an entirely new manner globally.
TRON Foundation Developing Rapidly
As mentioned earlier, this announcement was made at the launch of the much awaited TRON virtual machine. The Virtual Machine is a big deal for Tron as Justin Sun believes that it can potentially lead to Tron’s capacity increasing to 1 million transactions in one day.
This virtual machine is compatible with other virtual machines such as that of Ethereum’s according to Justin Sun.
Tron has not announced a formal launch date for project Atlas, however, there is going to be a release of a suite of new Tron tools that is expected to help accelerate the progress. These tools include TronLink, Tron Remix, TronWeb, and TronTruffle.