BTTC is a cross-chain interoperability protocol that uses the proof-of-stake ( PoS) consensus mechanism for validating transactions and sidechains to scale smart contracts. On 12 December 2021, the BitTorrent Chain (BTTC) mainnet went live. Therefore, BitTorrent Inc will deploy an ‘on-chain/off-chain exchange.’ The exchange will enable the transfer of tokens between a high-performance private ledger and the public TRON blockchain.” “Due to expected volume, direct use of the public TRON blockchain for all transactions is unfeasible. That gives uploaders the incentive to share files for longer and provide more bandwidth and storage to the network.
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Once their downloads are completed there is no incentive for them to continue uploading.īitTorrent Speed was introduced as an extension to the BitTorrent and µTorrent download clients, which enables downloaders to pay uploaders in BTT tokens for faster download speeds. The longer-term vision is to broaden the usage of the BitTorrent protocol far beyond current use cases by providing a distributed infrastructure platform to third-party app developers, creating the foundation for the decentralised web.”īTT acts as a transaction mechanism for the use of computing resources shared between BitTorrent clients, and provides liquidity for services in the ecosystem.īitTorrent has traditionally seen structural inefficiency, as it’s possible for users to complete file downloads before they have uploaded an equivalent volume. (Reporting by M.“The initial entry point is to introduce token-based optimisations to the existing BitTorrent protocol, providing a way for the value of shared bandwidth to be captured by network participants.
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It added that product overlap between Cipla and Torrent is "manageable" as there were only four overlaps at the molecule level where the "combined sales share would cross the 90% mark." The second source said Cipla is likely to be more keen on getting a strategic partner on board, like Torrent, instead of a pure financial investor, though a final decision was not likely soon.Ī Bernstein report in August flagged possible antitrust scrutiny and requirement to divest brands when combined market shares are high. Torrent and Blackstone both have submitted non-binding bids for Cipla, sources say.įoreign banks, including Morgan Stanley and Barclays are also in talks with Torrent to arrange potential debt financing for the deal, the second and third source said.īarclays declined to comment while Morgan Stanley did not immediately respond. Torrent, whose market cap is 54% lower than Cipla's $11.9 billion, is present in more than 40 countries and sells medicines related to diabetes, pain management, gynaecology, oncology and anti-infective segments as per its website. It competes with global majors Pfizer and Abbott, among others, in the world's most populous nation whose pharmaceutical market is expected to reach $130 billion by 2030, from $50 billion currently. The Economic Times first reported CVC's talks with Torrent on Monday.Ĭipla also exports medicines to North America and South Africa, and sells generic drugs to treat illnesses like cold, fever and headaches.
Torrent is likely to reach a decision to finalize its consortium financing partner in the next few days, said the first source.īain and Blackstone declined to comment while Cipla, Torrent and CVC did not respond to comments. That translates to a $6.75 - $7 billion deal, Bernstein estimated in an Aug. Cipla's founding family is keen to sell their 33.4% holding entirely, sources say, and any bid will also trigger an open offer for another 26% stake, as per Indian regulations.
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