Binance CEO Changpeng Zhao has called peer-to-peer file sharing company BitTorrent, the "grandfather of Dapp" in a recent tweet following the announcement that the company will be launching their own cryptocurrency.
BitTorrent, which is currently owned by Justin Sun and his successful cryptocurrency project Tron, is set to launch their own cryptocurrency this year according to Coindesk.
The new BitTorrent Token (BTT) will run on Tron technology, allowing over 100 million new users the ability to make use of Tron's ecosystem.
BitTorrent, which pioneered peer-to-peer technology for sharing files on the internet, is creating its own cryptocurrency.
Justin Sun commented on the news saying “In one giant leap, we can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”
Binance CEO Changpeng Zhao has also backed the project in a recent tweet stating "The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study."
The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study.— CZ Binance (@cz_binance) January 5, 2019
He founder also stated that Binance would be involved with BitTorrent, by raising funds in Binance coin (BNB) as well as Binance being supported in the new BitTorrent ecosystem.