Innovation

eStreams.tv and Byteball unite to extend cryptocurrencies to the eSports sector

grey_iconWednesday, 27/06/18, 4:32h
  • eStreams.tv, the startup accelerated and invested by Wayra Barcelona, generates, classifies and arranges live eSports content adding gamification tools.
  • Byteball is a cryptocurrency with a decentralized system that allows data storage to test manipulations.

eStreams.tv, the accelerated startup by Wayra in Barcelona (technology hub for Telefónica entrepreneurs), has partnered with Byteball, a cryptocurrency based on DAG (Directed Acyclic Graph). This alliance will mean the start of a massive adoption of these payments in the eSports market which is the first time an action of this type has been carried out.

Through eStreams, the businesses with cryptocurrency will prepare a portal to distribute its crypto. Byteball will distribute its free-form tokens to eStreams users and this in turn, will utilize the funds for awards and profits, this way popularizing Byteball amongst the eSports community.

The eSports industry is establishing itself as one of the most powerful in terms of the adoption of new technologies. In this sense, eSports stands out as the first sector where its public is adopting cryptocurrencies in a massive way.

“We want to be at the forefront of games and work with communities that are open to the adoption of new technologies and new ways of doing things, all that Byteball offers, with the advantages of its portfolio, robots and other unique characteristics,” Tony Churyumov, founder of Byteball, commented on the agreement.

In part, Carles Rodríguez, founder of eStreams coincided that, “The agreement with Byteball is a sign of the evolution of new technologies and how markets and businesses can cooperate to take advantage of the benefits of cryptocurrency.”

“Byteball is a business with a solid reputation in the area of cryptocurrency and its project of contracts and smart payments can definitely help the electronic sports ecosystem,” he added.

eSports, Rise in Sales

eSports has been strengthened in the last years becoming a part of faster growth in the digital entertainment industry. In 2017, its value reached $1.5 billion and according to proportioned data by Superdata Research, the eSports sector is expected to grow to exceed $2.3 billion in 2020.

Nevertheless, the eSports market still hasn’t entered a phase of massive adoption and, currently, faces challenges so important like transparency and quickness of its transactions. With the adoption by the area use of cryptocurrency and smart contracts based on blockchain technology pretending to resolve these problems.

The velocity of eSports world transactions is vital, so that Byteball being based on Direct Acyclic Graph (DAG), also referred to as graph chain or “Tangle,” making scalable transactions possible, faster and therefore, compatible with the eSports world.

About eStreams.tv

eStreams.tv was founded in June 2014, launching its sales platform in 2016. Since 2017, it makes up a part of Wayra Barcelona. Currently, it has a database of more than 130,000 registered users. Its technology generates gamified contents maximizing the engagement and monetization of the audience. They classify and group live contents and add different gamification tools therefore making it possible for an interaction between contents, audience and brands.

Made of three tools: a raffles platform for the users, another outcome platform concerning the matches of the best national and international competitions and a Spin, a habit creator to get functionalities within the platform.

About Byteball

Byteball is a decentralized system that allows the storage data manipulations including those that represent transferrable values. At the end of June, it’s worth is around $80 million and everything points to their consolidation as one of the most valuable cryptocurrencies.

Byteball was one of the first to adopt DAG (Directed Acyclic Graph), a conjunction of links between units where a single central entity that administers or coordinates new unit admissions in the database doesn’t exist. It functions as an internal currency called ‘bytes’ that are used to pay the decentralized database additions, even though other currencies can also be emitted. Users can send as many bytes like other currencies to pay goods or services or change one currency to another.

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