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Telefónica-backed eStream.tv taps cryptocurrency for eSports

eStreams.tv an eSports content creator and aggregator backed by Telefónica’s technology hub, Wayra Barcelona, has teamed up with cryptocurrency specialist Byteball to tap into the use of cryptocurrency as a payment mechanism in eSports.

Byteball, which uses the Directed Acylic Graph technology that is seen as a competitor to the Blockchain technology currently most widely used, will distribute cryptocurrency tokens free to eStreams users, which the latter can use to for prizes and incentives.

Telefónica describes Byteball as a cryptocurrency based on a decentralised system that allows the tamper-proof storage of data.

Tony Churyumoff, founder of Byteball, said that his company wanted to “work with communities that are open to the adoption of new technologies and new ways of doing things”.

Carlos Rodriguez, founder of eStreams.tv, said that the agreement showed how companies and different markets can tap into the benefits of cryptocurrency by cooperating and added that Byteball’s “solid reputation in the cryptocurrency sector and its system for intelligent contracts and payments can definitely help the electronics sports ecosystem”.