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BitTorrent Inc. has reported that it has acquired DLive – the blockchain-powered live streaming platform. BitTorrent Inc is known for its protocol which has garnered some rave reviews since its inception. After the acquisition, DLive will be a part of its new BitTorrent X ecosystem that will include BTFS which is its service for distributed file storage and retrieval. It will also include a BitTorrent client that will be utilized to deliver these sets of services to the users.
The BitTorrent protocol has one of the most successful protocols encouraging peer-to-peer data distribution systems. At present, it has a huge global base of users with more than 2 billion users including big enterprises like Facebook, Blizzard, and Twitter.
BitTorrent was acquired by TRON CEO Justin Sun in 2018 and after it was acquired two years ago, it was slowly already submerging itself in the TRON blockchain system. And now the BitTorrent File system (BTFS) is used by the TRON blockchain and DLive as a decentralized storage solution.
What will the acquisition mean now?
Now that the acquisition has taken place, BitTorrent is going part by part, covering its expansion plans. It is now heading towards the launch of BitTorrent X which is an ecosystem comprising BTFS, the BitTorrent (and μTorrent) apps, the BitTorrent token (BTT), and now DLive.
DLive is an extremely important acquisition because it is one of the leading blockchain-powered live streaming platforms which has more than 7 million users with 200,000 content creators. It has an enviable list of creators that include PewDiePie, tugaygokyt, and enesbatur. And these are the one which already have thousands of followers due to their popular gaming and e-sports live-streamed content.
“BitTorrent X is the next step in establishing a truly decentralized internet,” said Justin Sun, founder of TRON and CEO of BitTorrent. “In one big step, the BitTorrent X ecosystem may drive blockchain-related tools to billions of devices. Hundreds of millions of users will have access to the next era of tools to share, store, and stream their content directly to anyone across the web.”
The announcement has also put forth that the BitTorrent X ecosystem will be strengthened by the BTT cryptocurrency which is under works for incentivizing users to share their storage space on the BFTS. It can also be staked on DLive to earn further rewards. This could also allow many potential users to access decentralized file sharing and live streaming services with the ease they experience while working on BitTorrent and Tron.
“The acquisition marks a new start for DLive.tv. We are more than excited to join the BitTorrent ecosystem as the collaboration will provide us with more innovative solutions to empower content creators and reward communities.” says Charles Wayne, CEO of DLive, “Together with the BitTorrent team, we look forward to bringing disruptive innovations to the digital media space, and furthermore create value for our global community.”
DLive has recently executed the 2 Million Lemon #StayaAtHome giveaway which intends to support its viewers during the lockdown mandate.