Cryptocurrencies face three major challenges as they evolve: scalability, interoperability, and sustainability. The CEO of Cardano spoke at an event on the platform BitTorrent and praised the TRON Acquisition BitTorrent protocol in the highest regard.
Charles Hoskinson, founder, and CEO of Cardano and co-founder of Ethereum, recently stated that BitTorrent has a well-functioning protocol that has already proven its practicality worldwide. He explains that many consumers have already used the prominent example themselves (freely translated):
“So, what do we want to do in terms of scalability? Are there any examples of scalable protocols? Probably everyone has used it before. It’s called BitTorrent. “
Hoskinson said BitTorrent’s download speed is incredibly fast and its resources are growing fast as more people use BitTorrent, so more technical capacity is being brought in:
“Well, why is it getting faster? When people join the torrent of a torrent, they usually add more resources than they need. So more people, more resources, faster better performance. This is a really good distributed system. That’s why half a billion users. For this reason, one third of all Internet traffic is covered by this protocol. It is wildly successful. “
As we reported earlier, BitTorrent is expected to become part of the long-held Atlas project, which seeks to integrate BitTorrent into the TRON network. The TRON Foundation is working to improve the BitTorrent peer-to-peer protocol and the current altruism of BitTorrent.
The TRON Foundation notes that the protocol used to transmit 40% of all daily Internet traffic. With currently 100 million users, the platform offers a broad reach that TRON can use to democratize Web 4.0 in the future.
Cardano is currently working hard on the development of Marlowe, whose future use is in the financial industry. Provided Marlowe is fully developed, it should be able to provide, execute and store financial contracts. Especially in the area of fiduciary services, it should be used.
In combination with Marlowe, Cardano is working on the further development of another programming language for the creation of Smart Contracts: Plutus. The Plutus team continues to grow and is making good progress. The goal of the project is to “ensure that the data can safely switch between multiple platforms”.
Cardano is thus forcing Ethereum to compete on a long-term basis, as it continues to be number one on the crypto market in terms of programming and running dApps. We are curious to see what further developments TRON and Cardano will have in the near future.