TRON, a blockchain-based operating system, has confirmed the acquisition of BitTorrent - the company behind the enormously popular 'µTorrent' peer-to-peer (P2P) file-sharing system. Earlier, there were reports of the acquisition, now it is official. TRON founder Justin Sun said:

"I am proud to officially announce that TRON has successfully acquired BitTorrent and all BitTorrent products. From this day on, BitTorrent, whose software has been installed on billions of user devices, will become part of the TRON ecosystem, making TRON the largest decentralized Internet ecosystem in the world."

Sun further added that TRON and BitTorrent share the same vision for a decentralized Web and TRON will continue BitTorrent’s protocol legacy. 

The BitTorrent protocol was created in 2001 and is the first decentralized internet protocol with the large-scale global application. It has more than 100 million active users worldwide. Through this acquisition, BitTorrent and TRON will combine forces, with the TRON US team merging with the BitTorrent team. 

BitTorrent in a blog post said:

"We believe that joining the TRON network will further enhance BitTorrent and accelerate our mission of creating an Internet of options, not rules."

Tron, which is currently the 10th largest cryptocurrency in the markets, has a market cap of $2.5Billion and trades at $0.038.