- TRON (TRX) CEO reveals the purchase of DLive and the creation of BitTorrent X ecosystem that will use native token BTT.
- The BitTorrent X Ecosystem will initially consist of 4 protocols that link BitTorrent with DLive.
TRON (TRX) CEO Justin Sun has announced a number of changes to BitTorrent. After revealing the acquisition of the e-sports platform DLive, Sun announced the creation of an ecosystem called BitTorrent X. Its purpose will be to host all BitTorrent-related services in one place that will leverage the BTT token. Sun said:
BitTorrent X represents the transformation of BitTorrent, a world-renowned peer-to-peer service from a software company into a conglomerate of decentralized storage and data protocols and content distribution platforms.
Sun highlighted how BitTorrent started as a data transfer protocol used by 2 billion users, including Facebook, Twitter, and Blizzard. In that sense and due to the characteristics of the protocol, it is recognized as one of the precursors of decentralization, according to the CEO of TRON. Sun added:
After I acquired it back in 2018, @BitTorrent carried on its current business meanwhile exploring more ways to collaborate with cryptocurrency #BTT and bring blockchain and cryptocurrency to mass adoption.
Major @BitTorrent Announcement!
(1/8) @BitTorrent today announced the acquisition of live streaming platform, @OfficialDLive and plans to migrate all BitTorrent related services to one unified ecosystem named BitTorrent X powered by #BTT.
— Justin Sun🌞 (@justinsuntron) October 22, 2020
BitTorrent X ecosystem, DLive and YouTube controversy
The creation of BitTorrent X marks “the beginning of a new era” for the BitTorrent protocol, according to the announcement. Besides being an important brand in data transfer, Sun expects BitTorrent X to become the next generation ecosystem for decentralized data storage. BitTorrent X will consist of the following protocols: BitTorrent File System, BitTorrent, DLive, and its streaming protocol DLive:
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.
Sun is expected to provide further details at an event in November. DLive CEO Charles Wayn welcomed the acquisition and said the platform will get a fresh start. Wayn added:
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. 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.
As reported by CNF, DLive, BitTorrent and TRON formed a partnership in late 2019. DLive was conceived as a platform to reward content creators with a reward system. At that time, DLive was one of the options proposed by the crypto community to replace YouTube. This company had censored several channels and accounts related to Bitcoin and other cryptocurrencies.