×

Pornhub to Accept Tron Cryptocurrency, Whose Founder Just Bought BitTorrent

The pornography industry is often an early adopter of new tech. And so it has come to pass with the highly volatile world of cryptocurrency, the internet’s decentralized and encrypted electronic cash networks.

Pornhub, one of the world’s biggest pornographic-video sites, is expanding its cryptocurrency-payment options to soon accept Tron, founded by Justin Sun — the Chinese entrepreneur who recently acquired file-sharing software company BitTorrent.

Sun bought BitTorrent for $118 million in cash (not Tron’s TRX cryptocurrency), according to a source familiar with the situation. Investors in BitTorrent, which was founded in 2004 and has had a long legacy of being used for piracy, included Accel Partners and DCM Ventures. A rep for Tron declined to confirm the purchase price.

Sun evidently wants to use BitTorrent to expand the reach of Tron. According to Tron, it “aims to be a decentralized entertainment content-sharing platform eventually leveraging blockchain and peer-to-peer network technology.” Tron’s deal with Pornhub, which claims to have more than 90 million daily users, is similarly aimed at building a base of users for the cryptocurrency.

Pornhub also plans to add the ability for users to pay with ZenCash, another cryptocurrency. That follows its recent announcement that it’s accepting Verge, a cryptocurrency that allows for anonymous transactions by obscuring the IP addresses and locations of its users.

“Decentralized payment systems have continued to grow in popularity, and cryptocurrency adoption is exploding across a broad economic spectrum,” Pornhub VP Corey Price said in a statement. “Today, cryptocurrencies are especially viable in the adult entertainment industry because they are privacy-centric and incorporate more anonymity tools than traditional tender.”

Both ZenCash and Tron currencies, which launched in 2017, can be used as payment methods for Pornhub purchases, including the Pornhub Premium streaming service and its traffic and advertising network.

Tron’s token, TRX, has been one of fastest-growing cryptocurrencies in the market although it remains dwarfed by Bitcoin and Ethereum. Cryptocurrencies remain extremely volatile: Tron’s market cap just three weeks ago was more than $4 billion; as of Tuesday, it stood at about $2.6 billion. According to Tron, TRX is able to process payments at a rate of at 10,000 transactions per second — 400 times faster than Ethereum.

Popular on Variety

More Digital

  • daydream view

    Google Ships Pixel 4 Without Daydream Support, Stops Selling Daydream Viewer

    Google is effectively phasing out its Daydream virtual reality (VR) platform: The company’s latest flagship Pixel 4 flagship phone, which Google unveiled at a press event in New York Tuesday, won’t support Google’s Daydream mobile VR platform anymore, a spokesperson confirmed to Variety. The company will also stop selling the Daydream viewer, but continue to [...]

  • Google Wifi

    The New Google Wifi Ships in Three Colors Because Good-Looking Routers Work Better

    When Google revamped its Wifi router product, it extended the devices reach and doubled their speed, while also adding a full-blown smart speaker with Google Assistant. But the company paid just as much attention to Google Wifi’s design, down to the decision to ship the product in three colors. The surprising reason for this: Google [...]

  • Nest Mini

    Google Introduces New $49 Nest Mini Speaker With On-Board Machine Learning, Stereo Pairing

    Google introduced a revamped version of its entry-level smart speaker at a press event in New York Tuesday: The new $49 Nest Mini speaker effectively replaces its Home Mini predecessor with bigger sound, a built-in machine learning chip for faster responses, ultrasound for proximity detection and the ability to pair 2 speakers for inexpensive stereo [...]

  • Google Stadia Game Streaming Service Launching

    Google’s Stadia Game Streaming Service Will Launch Nov. 19

    Google hardware chief Rick Osterloh gave us an update on the company’s game streaming service Stadia during the company’s fall hardware event in New York Tuesday: Stadia will be available to the public on Nov. 19. Stadia promises to stream games directly from the cloud, with no need to buy a full-blown game console. Consumers [...]

  • LeEco founder Jia Yueting

    LeEco Founder Jia Yueting Files for Bankruptcy in the U.S.

    Jia Yueting, the colorful Chinese entrepreneur who founded the LeEco electronics-to-video streaming group, has filed for bankruptcy in the U.S. Jia, sometimes known as YT, has debts on both sides of the Pacific and has been in the U.S. from late 2017, in defiance of an order from the China Securities Regulatory Commission to return [...]

  • Apple TV Plus on Roku

    Roku Adds Apple TV App, Just in Time for Apple TV Plus Streaming Launch

    Apple’s TV and movie streaming app has landed on Roku. Starting today, most Roku device users will be able to add the Apple TV app for free. Under the companies’ agreement — for the first time — Roku users can use the Apple TV app to discover and watch movies, TV shows and more, including [...]

  • The Olympic Rings adorn an event

    Eurosport Strikes Content and Ad Deal With Twitter for Tokyo Olympic Games

    Discovery-owned Eurosport has inked a content and ad sales deal with Twitter for the 2020 Tokyo Olympic Games. Eurosport has rights to the Tokyo Summer Olympics in 16 European markets. Under the deal, Twitter will carry extensive event highlight clips including medal-winning moments during the Games. Territories covered in the deal include Austria, Belgium, the Czech [...]

More From Our Brands

Access exclusive content