Decentralized file-sharing protocol BitTorrent has announced its acquisition of live streaming platform DLive.tv. The acquisition will lead to the complete migration of the entire BitTorrent services to BitTorrent X, a conglomerate of decentralized storage, data protocols, and content distribution platforms.
BitTorrent X will be supported by BitTorrent File System, or BTFS, a next-generation infrastructure for decentralized data storage and will be powered by BitTorrent token, BTT. Justin Sun, Founder of Tron and CEO of BitTorrent in a statement said BitTorrent X will play a critical role in bringing blockchain and cryptocurrency to the mainstream.
“BitTorrent X is the next step in establishing a truly decentralized internet. 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,”.
BitTorrent has been in the business of file sharing with over 2 billion users. The company was acquired by Justin Sun in 2018 and since then, Sun has been exploring ways to incorporate blockchain into it and make BTT the token for use in the ecosystem. BitTorrent is not only used by individuals but also by tech companies such as Twitter and Facebook to move large data files around.
DLive and BitTorrent have a long relationship in the past through several partnerships that have helped it grow. The two have achieved several milestones together over the years which include the launch of a Beta version of DLive on the Steem blockchain, DLive migration to Lino blockchain test net, DLive integration with Streamlabs OBS, DLive launch of BTT Staking feature on TRON blockchain among many others.
CEO of DLive the Esport live streaming platform, Charles Wayn speaking on the future of the new BitTorrent ecosystem said it will further empower content creators and reward communities.
“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. 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.”
More details on the Ecosystem and the plans for the future will be made available during a live event by Tron and BitTorrent in November.