Bitcoin (BTC) Removed as a Payment Option on DLive, Replaced with Tron (TRX)

Bitcoin (BTC) Removed as a Payment Option on DLive, Replaced with Tron (TRX)

ETH News

In brief:

  • Tron bought DLive in December 2019. 
  • DLive was soon integrated into the BitTorrent ecosystem. 
  • Bitcoin (BTC) has now been removed as a payment option on the Livestreaming platform and has been replaced by TRX, BTT and TRC-20 USDT. 

Back in December 2019, the Tron Foundation acquired the popular livestreaming platform of DLive and soon integrated it into the BitTorrent ecosystem. Justin Sun further explained how the platform would enhance his vision of decentralizing the web.

DLive is one of the best real-world examples of what is possible when you combine blockchain and digital media. DLive is a great solution for live media producers. Think of how valuable live streaming content is already to centralized social media platforms who take ownership and advantage of their users’ hard work. We look forward to DLive bringing value to the entire world with the addition of TRON and BitTorrent’s global community of passionate creators.

Bitcoin Removed as a Payment Option on DLive

In an announcement earlier today, the team at BitTorrent announced that Bitcoin (BTC) had been removed as a payment option on DLive. Payments on the platform will now be through the use of Tron (TRX), BitTorrent (BTT) and the TRC-20 version of  Tether (USDT). The Tweet making the announcement can be found below.

The Efficiency of Using TRX, BTT and TRC-20 USDT

One benefit of using assets on the Tron blockchain is the speed at which transactions are completed. The time it takes to settle transactions on the Tron blockchain has been observed to be as fast as 3 seconds. This is efficient and convenient when compared to the time it takes to complete a BTC transaction: 10 minutes to a few hours depending on the mining fee paid.

Possible Effects on the Value of TRX and BTT

Statistics from DApp.com indicate that DLive has over 5 million monthly active users and more than 800,000 active broadcasters. This, in turn, means that the ‘money’ used on the platform will be TRX, BTT and TRC-20 USDT. As a result, there will be an increment in demand for these digital assets.

However, the value of both Tron (TRX) and BTT is also tied to the success of the King of Crypto: Bitcoin (BTC). Therefore, an increase in demand for Tron and BTT will not necessarily translate to a corresponding increase in value. This is seen when we factor in the current market conditions brought about by the economic effects of the Coronavirus. For TRX and BTT to exhibit considerable gains, Bitcoin has to also thrive and decouple from the traditional markets.

(Feature image courtesy of JESHOOTS.COM on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.