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Archivo del Autor: Belen De Leon

BitTorrent is selling for $140M to Justin Sun and Tron

BitTorrent, an early mover in concept of building a business around decentralised computing architecture to distribute and store data, is being sold for $140 million in cash to Justin Sun and his blockchain media startup Tron, TechCrunch has learned.

Variety yesterday reported that a sale of the company to Sun closed last week, without naming a price, following rumors that circulated for at least a month that the two were in negotiations.

TechCrunch understands that shareholders have now been sent the paperwork to sign off on the deal. Some are, we understand, still disputing the terms because more than one person claims to have made the introduction between Sun and BitTorrent, and the one who facilitated the deal will get an extra payout. A source says it’s unlikely that the disputes will actually kill the acquisition, given how long BitTorrent has been looking for a buyer.

BitTorrent most recently said it has about 170 million users of its products. Currently, these include its main client and BitTorrent Now. The latter is focused on video, music and other creative content. BitTorrent claims that its protocols move as much as 40 percent of the world’s Internet traffic on a typical day.

Tron is one of the new kids on the block in the wide world of blockchain startups. Founded by Sun, who previously had worked for Ripple (a settlement system built on blockchain tech), Tron says its mission is to build “a truly decentralized Internet and its infrastructure,” which has included (no surprises here) the creation of its own cryptocurrency, the TRX. TRX, loosely, appears to be a cryptocoin for the entertainment industry. Tron has plans to use TRX as a way to pay for content on its network, according to this whitepaper.

Tron is also just intended for trading. The company has launched a MainNet distributed ledger for transactions, with its own TRX migrating to the MainNet starting later this week. Tron says that the market cap for all TRX is currently valued at just under $4.6 billion with the value of a single TRX coin $0.045.

Neither Tron, Justin Sun, nor representatives for BitTorrent responded to our requests for comment, so it’s not completely confirmed how Tron plans to use BitTorrent. But one shareholder we spoke to says there are two plans. First, it will be used to “legitimise” Tron’s business, which has met with some controversy: it has been accused of plagiarising FileCoin and Ethereum in the development of its technology. And second, as a potential network to help mine coins, using BitTorrent’s P2P architecture and wide network of users.

The acquisition will close off a tumultuous but also interesting life for BitTorrent, founded in 2004 by Bram Cohen and Ashwin Navin to commercialise peer-to-peer networking technology as a way to share and store files.

BitTorrent was a trailblazer in considering how decentralised network architectures using all the machines in a network as nodes — in contrast with the server-based architectures that dominate the tech world today — could be used to share, store and backup data. Some believe this is a more secure system overall because there is no central repository to hack.

Yet the company has also become synonymous with “file sharing” and all the pros and cons that have come with that. Most notably, it has fought long against a bad rap for torrenting technology — which can be used to share copyrighted files illegally — by positioning itself as creator-friendly, buying in content rights, and establishing a range of products built on the P2P protocol. It also used its architecture to take a stand on privacy on the web at the height of the NSA controversy.

And while BitTorrent makes revenues — it hadn’t raised money since 2008 — its strategy to build a long-term larger business on that technology never really took off as investors and others hoped it would. That resulted in a number of management changes and a couple of reshuffles of its product as its leaders looked for the killer app. Some of its earlier product efforts are still around: BitTorrent’s enterprise services were spun off into a standalone company now called Resilio, led by BitTorrent’s former CTO and CEO, Eric Klinger.

(Side note: Interestingly, both Cohen and Navin are still following the trajectory of decentralisation that has led to the rise of blockchain, and that led Tron to BitTorrent. Cohen is building “eco-friendly” cryptocurrency Chia, and Navin, as the CEO of measurement and analytics provider Samba TV, is building a cryptocurrency to incentivise users to share more of their viewership data.)

Despite the current buzz for decentralised architectures around blockchain, we understand that BitTorrent had been looking for a buyer for a while, Long ago, one source told us, both Akamai and Rovi (which is now TiVo) had both considered buying BitTorrent but nothing came to pass. Akamai instead acquired Red Swoosh, a BitTorrent competitor that was Travis Kalanick’s first startup before Uber, and Rovi moved on in its own direction. More recently, offers were less forthcoming. The company had raised around $60 million in funding, according to PitchBook data, which notes that it had been valued around $145 million at its peak. Its investors have included DCM, Accel and DAG.

We will update this story as we learn more.


Source: TechCrunch

Apple's Latest iOS 12 Feature Will Save Lives

Forget memoji. Apple’s push to transmit instant, accurate locations during emergency calls will have a profound effect for first responders.
Source: Wired

Inside the Crypto World's Biggest Scandal

One couple thought they held the secret to building a new decentralized utopia. On the way, they plunged into a new kind of hell. A crypto-tragedy in three acts.
Source: Wired

A.I. can now learn how to solve a Rubik’s Cube, researchers claim

Stephen McAleer has managed to create an algorithm that can solve the Rubik’s Cube sans human help. It depends upon a process known as “autodidactic iteration” and it could have huge implications for the future.

The post A.I. can now learn how to solve a Rubik’s Cube, researchers claim appeared first on Digital Trends.


Source: Digital trends

Android users can now message from the web

Messages, Google’s more recent focus for its scattered messaging efforts following its decision to “pause” work on Allo, is now available for web users. The company announced that it would begin rolling out Messages for web starting today, with the full rollout completing over the next week. The feature, along with others including GIF search, smart replies, and more, is part of an updated messaging experience for Android users that aims to be Google’s response to iMessage.

The company earlier this year moved its Allo team to work on Android Messages, Google’s app that utilizes the RCS messaging standard. The standard, adopted by numerous mobile operators worldwide, offers more feature parity with iMessage, thanks to its support for things like read receipts, typing indicators, high-res photo sharing, better group chat, and other features.

Now, Messages is gaining another feature to better compete with iMessage: web support.

Today, Apple users can access iMessage conversations on their Mac using a dedicated app. Google’s Messages for web is similar in the sense that it also offers cross-platform access to messages – that is, it lets Android users view and respond to chats when they’re not on their phone.

However, the implementation of Messages for web is more like WhatsApp for the desktop, right down to how you scan a code on the Message website to sync things up with your phone.

Google says Messages for web will support sending stickers, emoji and image attachments, as well as text, at launch.

The company also announced a few other features that will come to the Messages app over the next week, including built-in GIF search; Smart Replies, which suggest English language text responses and emoji for now; preview web links in conversations; and the ability to copy one-time passwords with a tap.

This last feature is also similar to a new addition coming to iMessage in iOS 12. When you’re logging into a site or app that requires a one-time password sent over text message, iOS 12 will let you paste that into the necessary field with one tap. Google’s system looks like it requires two taps – both the copy and the paste functions – but it’s still a lot easier than before.

To try out the new features, Android users will need to be on the latest version of the Messages app from Google Play.


Source: TechCrunch

FTC gets $11M settlement from get-rich-quick scammers targeting Amazon – CNET

Authorities claimed Adam and Christopher Bowser duped some prospective Amazon sellers for thousands of dollars each.
Source: CNET

Supreme Court to hear Apple App Store antitrust arguments – CNET

The question is whether consumers can sue over commissions charged to developers.
Source: CNET

Oh, God, they're making a Crypto movie – CNET

At least it’s not CG?
Source: CNET

Beat the clock and apply for TC Top Picks at Disrupt SF 2018

Time is running out on one of the best ways for an early-stage startup to experience Disrupt San Francisco 2018, September 5-7 at Moscone Center West. We’re designating 60 pre-Series A companies to be a TC Top Pick. If we select your company, you get to experience Disrupt SF in all its techno-glory for free. That’s right, people: F-R-E-E. Applications close on June 29, so get a move on and apply right now.

Here’s the low-down on how the TC Top Pick program works. First off, it’s a highly competitive process. The TechCrunch editorial team carefully evaluates every application before selecting the winning startups to represent each of these 12 tech categories: AI, AR/VR, Blockchain, Biotech, Fintech, Gaming, Healthtech, Privacy/Security, Space, Mobility, Retail or Robotics.

Each TC Top Pick finalist receives a free Startup Alley Exhibitor Package. The package includes a one-day exhibit space in Startup Alley and three Founder passes (good for all three days of the show). You’ll get to participate in CrunchMatch — our investor-to-startup matching platform — to simplify finding and making appointments with potential investors, and you’ll have access to the full event press list.

Earning a TC Top Pick designation also gets you a three-minute interview on the Showcase Stage with a TechCrunch editor — and we’ll promote that video across our social media platforms. That’s promotional gold right there, my friend.

One of the other fabulous opportunities for any startup exhibiting in Startup Alley (including Top Picks) is the chance to be voted the Startup Battlefield Wildcard by Alley attendees and TechCrunch editors. If that happens, you get to compete for the $100,000 Startup Battlefield prize. Yowza! Wait, you don’t think that could happen? Guess again. After being voted the Wildcard at Disrupt NY 2017, RecordGram won the Startup Battlefield.

Disrupt San Francisco 2018 takes place on September 5-7. The TC Top Pick deadline is June 29. Don’t miss your opportunity to exhibit in Startup Alley for free. Apply for TC Top Picks today.


Source: TechCrunch

Mars rover Curiosity takes selfie during brutal dust storm video – CNET

Learn how the NASA rover takes such good selfies in the middle of the brutal Martian storm, while the other Mars rover, Opportunity, fights for its life.
Source: CNET

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