Altcoins

BitTorrent’s Former Employees Not Happy with Tron’s Acquisition

BitTorrent’s Former Employees Not Happy with Tron’s Acquisition

Tron taking over the popular Peer to Peer exchange BitTorrent in June sparked the curiosity of Tron amongst cryptocurrency enthusiasts. However ever since the successful acquisition by Tron’s founder Justin Sun, five employees from the existing staff have left BitTorrent leading to negative feedback from the much talked acquisition.

According to sources, the departures of the employees were due to Tron’s acquisition and the plans imposed for BitTorrent by Tron. The sources even highlighted three employees leaving on their own, while two others were dismissed.

One of the key departures was co-founder Bram Cohen who was at the inception of the company way back in 2004. A blog post expanded that Bram Cohen’s departure was due to the ownership change.

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Cohen has never been a fan of Bitcoin with a tweet back in 2011 stating his negative sentiments on the digital coin.  

As part of the acquisition, specific terms and conditions had to be followed. One of it was BitTorrent’s office moving to Tron’s office in San Francisco. Things have been pretty stressful ever since the office change, but many from BitTorrent are not able to resign due to an 18-month lock-in period.

Justin Sun has already started an aggressive hiring process for 30 positions in BitTorrent which include software engineers.

It is still to be seen the effect Tron’s acquisition has had with BitTorrent. However as per Justin Sun’s quote after the acquisition, it seems likely that a reward system using TRX tokens for seeding completed downloads in BitTorrent will be placed.

“By integrating the TRON network into BitTorrent, we aim to improve on the currently existing altruism. At this point, there are no incentives for peers who have completed downloading to continue to seed. We intend to extend rewards to peers who seed torrents, infusing more resources into the torrent ecosystem,” Sun said after the acquisition of BitTorrent.

Image Source: “Flickr”

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Amrit Mirchandani,  A hustler, who believes there is a solution to every problem. A strong believer of Blockchain and a Cryptocurrency enthusiast!
Currently living in the Digital Hub of India, Pune and an extremely friendly and optimistic person. Born and raised in the beautiful island of Sri Lanka and have run businesses ranging from Agriculture to the Digital World. I have had crazy Experiences in Asian Busy towns like Mumbai and Kuala Lumpur to African nations such as Madagascar.