He also intends to invest a significant amount of funds in the project to attract developers

Justin Sun to merge blockchain of Huobi with TRON and BitTorrent networks

15.10.2022 - 09:45

399

2 min

What’s new? TRON founder Justin Sun said that he intends to merge Heco, the blockchain of the Huobi crypto exchange, with his ecosystem and the BitTorrent Chain (BTTC) network. He also added that he intends to invest significant capital, which should encourage developers to create new projects within the expanded ecosystem.

What is known about BitTorrent? It is a file-sharing software company. In 2019, BitTorrent integrated blockchain technology into its products and launched its own BTT token. The platform’s native coins can be used to buy cloud storage space or speed up file downloads.

As of October 15, 09:20 UTC, BTT is trading at $0,0000007854, having gained 0,5% per day, according to CoinMarketCap.

What is known about Huobi? The company was founded in 2013 in Beijing. It is currently based in Seychelles, with offices in Hong Kong, South Korea, Japan, and the United States. The platform hosts 648 cryptocurrencies and 971 trading pairs. The daily trading volume is $612,2 million.

The native token, Huobi Token (HT), is used to receive fee discounts, as well as additional rewards and bonuses. HT is trading at $7,56 (+1,42%). It has a market capitalization of $1,16 billion.

In early October, Huobi co-founder Leon Li sold his controlling stake to About Capital Management and stopped participating in the activities of the exchange. Analyst Colin Wu later called Justin Sun the ultimate beneficiary of the deal. The head of TRON denied the claims, adding that he only serves on the exchange’s global advisory board.

Sun later claimed to be one of the largest HT holders in the world. He is going to focus on bringing Huobi to the global market, as well as bringing the platform back to China.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy