Justin Sun Fails to Impress Market With DLive and BitTorrent Partnership
The crypto market doesn’t seem to be impressed with blockchain-based content sharing platform DLive becoming a part of the BitTorrent ecosystem.
In order to do so, DLive, that has "over five million monthly active users," will be migrating to the Tron (TRX) blockchain. As a reminder, Tron owns BitTorrent, a communication protocol for peer-to-peer technology sharing of files on the internet, and BitTorrent (BTT) token is a joint project between Tron and BitTorrent Foundation. The announcement says that DLive and BitTorrent’s goal in this partnership it “to bring blockchain-based peer-to-peer content sharing, including live streaming, to everyone,” though they haven’t shared more information yet as to what that entails exactly.
Meanwhile, neither TRX nor BTT are showing any particular positive changes in the last 24 hours. BTT is currently (9:01 UTC) changing hands at USD 0.0002. It dropped 6.5% since yesterday, and it appreciated 5% in a week. Similarly, Tron is trading at USD 0.013. It's down 3.7% in a day and 2.8% in a week. And while the market is in red today, both coins dropped more, compared to the total market capitalization that declined 2%.
Starting today, @OfficialDLive will begin the migration to the #TRON blockchain! #BLive, the live streaming platform introduced by @BitTorrent in early 2019, will be merged into the DLive platform!— Justin Sun (@justinsuntron) December 30, 2019
We are excited about the great future that lies ahead for #TRON Ecosystem! https://t.co/ORsIl4KR2m
In the meantime, DLive has begun using BitTorrent for storage and for a place to advertise their products and services. Specifically, they’ll use the BitTorrent File-Sharing System (BTFS), a distributed file sharing and storage system, to move DLive’s content towards decentralization, the announcement says, and the platform will also merge its account systems with BitTorrent's.
This will allow 100 million monthly active users, as the announcement claims BitTorrent has, to access DLive's services. The platform and its blockchain development team have also started working with the BitTorrent team to boost its products and services, while BitTorrent 2019 live streaming platform, BLive, will merge with DLive, with the BLive team moving to the platform as well.
While the Lino blockchain technical infrastructure will be integrated into BitTorrent and DLive will no longer use it post migration, LINO coin will stop being the fundamental unit of value or utilization. DLive also plans to offer benefits and rewards to existing users to transition from the Lino blockchain onto the BitTorrent ecosystem, says DLive. Lino says that the ACE Protocol foundation is working with the BitTorrent foundation on a plan to introduce the BitTorrent protocol and the BTT tokens to the Lino community, which can expect further details to be provided on January 15, 2020.
As reported in April, when DLive had 3 million active monthly users, PewDiePie aka Felix Kjellberg, the world’s biggest independent video content creator with 93 million subscribers on his YouTube channel, announced that from now on he will “exclusively” be streaming on DLive.
As for the reactions of the people online today, they are mixed as always, with some congratulating the new partners, others being skeptical of this collaboration, and some believing this is good news for YouTubers in particular, given the recent giant’s incident with striking and deleting crypto-related content. Others, however, were disappointed with Lino as well, saying: “what happened to all the promises of lino to the moon, lino mainnet q1 2020? What happened to the roadmap that the felt the need to blindside everyone with this?” And there were those who suggested that the hyping of future announcements by Justin Sun, CEO of Tron and BitTorrent, is actually doing a disservice to the entire ecosystem.
I'm assuming this is the acquisition you mentioned!? If so, then it seems more like a partnership of sorts. As always ppl are disappointed. But here's a hint: They wouldn't have been if it was just suddenly announced as a partnership. Hell, the price might even have gone up a bit— Peter Møller Hansen (@Ebbeneser) December 30, 2019
A few more reactions:
this is a lot bigger than what many think ! you should be thanking justin for this kind of adoption.— LOS_INGOBERNABLES (@UN_GOVERNABLE) December 31, 2019
Good move, decentralised content ahead and less of the YouTube censorship 👍— FCoin Europe (@EuropeFcoin) December 30, 2019
So instead of making a product in bittorent , he just bought somebody elses product , integrate it with bittorent and labelled as bittorent live..this scammer is on steroids. #justinsuntronscam #tronisscam— cryptomaniac (@cryptocyclops) December 31, 2019
What exactly does this mean for DLive and what changes will be taking place? I had no idea that live streaming was P2P. Please explain in simpleton terms.— 𝙼𝚎𝚖𝚎𝚃𝚎𝚊𝚖𝟸𝟶𝟷𝟿 (@HumungusThungus) December 30, 2019