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Xunlei blockchain business "lost"

Time : 12/08/2021 Author : osxu16 Click : + -
        The emergence of blockchain has made Xunlei, which has been lost for a long time in the mobile Internet era, seize the lifeline. This company decided to allin blockchain and further cultivate the cloud computing market. "Xunlei is essentially a decentralized Internet company that started with P2P technology. Genetically speaking, Xunlei has a better chance of success than others when it does shared computing." Chen Lei, CEO of Xunlei, once said that unlike other enterprises' B2C paths, Xunlei hopes to use blockchain technology to create a different C2B path. Along this line of thinking, since 2017, Xunlei has successively launched a private cloud disk "gamer cloud" for family users and a "Star Cloud" that provides cloud computing solutions for edge computing, function computing and CDN services for enterprises.
 
        In this system, there is no doubt about the importance of gamecloud. Gamecloud and moneybao (another private cloud disk developed by Xunlei) used by millions of users have formed millions of shared nodes across the country, providing cheap computing costs for the star cloud. For Xunlei, it is a low-cost thing to maintain the operation of the gamer cloud. It only needs to provide a reward "linkgram" according to the amount of work contributed by each machine every day. The linkgram can be exchanged into virtual objects or physical objects such as "video website members" and mice. However, after a year, the seemingly perfect chain gradually cracked. The decline in the amount of money produced by gamecloud, the shrinking value of the chain, and the deterioration of mining machines have caused more and more users to be dissatisfied and quit. Even some large mining owners with hundreds of machines can not withstand the pressure and join the ranks of rights protection.
 
        An industry figure believes that the problem faced by gamecloud is not simply the problem of user rights protection. The user network composed of millions of gamecloud is also the development foundation of Xunlei blockchain and cloud computing business. When more and more gamers start to shut down, the foundation of Xunlei's blockchain business may be shaken. The crisis is spreading. A few months ago, Yan Dongya (not his real name) and several other people formed a rights protection group. What he did not expect was that more than 500 people poured into this group later. "I'm tired of playing with the cloud," he said. "After playing for one and a half years, he lost 200000 yuan", Yan Dongya said to himself. Even for an IT worker like him, 200000 yuan is not a small number. However, compared with other people, his loss is nothing at all. "There are many people who lose millions of Yuan", and most of them are mine owners.
 
        In fact, users have been dissatisfied with gamecloud for more than a day. Similar emotions have been fermenting on social networks such as Weibo, QQ group and wechat group for a long time. The main reason for the dissatisfaction of many users is that the value of "blockchain" produced by gamecloud is declining. According to the trading website, since November last year, the trading price of linkke has dropped from one yuan to 30-40 cents. Because the amount of money produced by gamecloud is not high, it only produces one or two coins per day. After calculating the cost of electricity, Internet and machines, many people think it is not cost-effective. When there is no profit in selling chain grams, many people intend to exchange the chain grams into virtual goods or physical objects, but gradually, they find that the prices of these things begin to rise and they are often out of stock.
 
        For example, the monthly membership card of Xunlei, which can be converted into a few chain grams, now needs dozens of chain grams. After the JD e-card of 50 yuan is redeemed, it shows that the system is being upgraded. After the exchange, many merchants also delivered goods slowly. "The mouse exchanged in the chain store has been showing no delivery for three days.". One user said that on the forum of gamecloud, a post that submitted an order of the mall was replied to as many as 17 pages. In the response provided by Xunlei to all-weather technology, it was mentioned that Xunlei had sold such businesses as linkgram, linkgram mall and linkgram pocket to chainshare cloud in September 2018. Xunlei only retains the underlying technology business such as Xunlei chain, Xunlei chain open platform, Xunlei chain file system (TCFs), and the shared computing business based on gamecloud and gamecloud network.
 
        "The price of linkke mall is determined and adjusted by the settled merchants according to the market conditions, and there are normal fluctuations." Xunlei responded that the specific situation needs to consult chainshare cloud company. At the same time, some users reported that their hard disks were damaged due to the excessive amount of uploads and downloads every day. Some said that they had damaged four or five hard disks. Due to various problems, many users want to quit mining and use the gamecloud as a personal NAS device to store some files. However, if they want to quit, "the customer service needs to hold the photos of the gamecloud and the ID card". Song Yifei (not his real name), another user of gamecloud, expressed dissatisfaction with this, "regard us as criminals?".
 
        In response, Xunlei explained that the purpose of this move is to prevent malicious withdrawal from other people's devices: "to ensure that the gamer cloud is consistent with the applicants who apply for withdrawal from the gamer reward program, and accurate identity information can be retained for verification by relevant departments when necessary.". For many users, the experience of gamecloud today was unexpected. Just over a year ago, the situation was completely different. Gamecloud is a private cloud disk launched by netheart technology under Xunlei in 2017, but its functions are not limited to this. According to some users, this is a "mining machine". Mining methods are simple and crude & mdash& mdash; As long as you start up 24 hours to contribute bandwidth, the faster the network speed you upload, the more "chain grams" (formerly known as gamecoin) you will get.
 
        "Gamecoin is a digital asset based on & lsquo; gamecloud & rsquo; intelligent hardware and relying on sharing economy cloud computing and blockchain technology." According to the official statement, as a reward, the chain can be exchanged for more than 200 products such as iqiyi membership card and JD e card. As a private cloud disk that can make money, gamecloud shouted the slogan "you can make money by lying down" at the pre-sale stage. The fanatical users attracted by it even paralyzed the Taobao crowdfunding page for a time, and the amount raised increased from 100000 yuan to more than 10 million yuan. "For a long time, you can't buy a machine without 2000 yuan," Yan Dongya recalled. During the period of sale, the official price of 399 yuan of gamecloud was once speculated to nearly 3000 yuan in the market. Even so, it is still hard to find a machine.
 
        The attraction of the game cloud comes from the rise of the price of the link (game coin). In a few months, the game coin with an initial value of 0.1 yuan has risen to more than nine yuan. "At the beginning of the sale, the output of the game coin was very high." one user said that the daily income of a machine can reach 60 or 70 yuan. Under such a high return, some people even invested a lot of money to build a mine. On jd.com, there are more than 200000 comments on gamecloud, and some people have calculated their accounts & mdash& mdash; "According to the conversion ratio of 10 orders and 1 comment, Xunlei's 399 yuan hardware may have sold more than 2 million units, with sales of 1 billion.
 
        ”Another case circulating in the market is that at the order meeting of gamecloud, someone spent more than 2 million cash to buy 5000 machines. The hot sale of gamecloud has also driven the stock price of Xunlei to soar. Data show that after the launch of gamecloud, the share price of Xunlei soared from $3.26 in early January 2017 to $27. On November 28, 2017, Shenzhen Xunlei big data information service Co., Ltd. (hereinafter referred to as "Xunlei big data", which was a subsidiary of Xunlei at that time) publicly pointed out that Chen Lei, CEO of Xunlei, carried out the illegal issue of playing token, did not use any blockchain technology, and used illegal exchanges to disguise ICO.
 
        From the perspective of mode, chaingrams and many virtual currencies are indeed very similar. For example, the total amount is limited, and the total amount of chaingrams is designed to be 1.5 billion. After a certain period, the output will be halved. The official said that one reward block every 15 seconds, and the reward will be halved after about one year. In order to avoid doubt, on December 10, 2017, Xunlei's official website specially released an announcement on the adjustment of gamecoin, which pointed out that "gamecoin" was officially renamed as "chaingram". In addition to the name change, Xunlei also announced that it would no longer support the transfer function between mainland users except for the application scenarios developed by Xunlei and its partners. However, the official stop has not changed the fact that chainlink conducts transactions through the OTC market.
 
        Some users said that Xunlei nominally stopped the transfer of domestic app, but in fact it left a gap of password red envelope. On January 12, 2018, the China Internet Finance Association released the risk tips on preventing disguised ICO activities, still naming linkke, pointing out that with the gradual elimination of ICO projects in various places, a model called "issuing virtual digital assets with mining machines as the core" (IMO) represented by the issuance of Xunlei "linkke" deserves vigilance and has potential risks. After being named by the regulatory authorities, coupled with the overall depression of the currency market, the market price of linkke fell rapidly. By June 30, 2018, its price had dropped to 1.86 yuan. At present, according to the price of an OTC exchange, it is only about 0.3 yuan.
 
        Song Yifei found that one day in April this year, all the gamer clouds of JD mall were suddenly removed from the shelves. "The offline of gamecloud from JD mall belongs to our normal sales channel adjustment". He got such a reply from the customer service. However, things may not be as simple as the customer service said. "The reason for the user's complaint is that they are suspected of selling 3C products without certification," one user said to all-weather technology. He also provided a "Notice of acceptance of reports" issued by the Daxing district market supervision and administration of Beijing. According to the contents of this document, some users reported that the gamecloud sold by JD mall was not certified by 3C, and the report has been accepted.
 
        However, all-weather technology has found that in addition to the JD platform, gamecloud is still selling normally on Taobao, Suning and other e-commerce platforms, but the sales volume seems not too high. Take Taobao as an example. The product with the highest sales volume is 480 yuan, but there are only 159 evaluations, and the user evaluation on Suning is basically the content of 2018. On the second-hand platforms such as Xianyu, gamecloud has even fallen to the price of cabbage. Its price is only 60 or 70 yuan, and some of the sellers are suspected to be mines. The all-weather technology found that in the video uploaded by a seller, the support of the room was densely packed with at least 100 machines working. In the face of the accusation, Xunlei expressed its grievance. "We have repeatedly reminded users not to engage in speculation and speculation during the sales and operation process.".
 
        Xunlei said, "if users find such illegal acts, they can report to the relevant departments or call our customer service hotline.". As the necessary installation software for Chinese Internet users, Xunlei has occupied more than 70% of the market share and has 400 million users. The Internet Express and QQ whirlwind have been defeated by them. But as a tool software, Xunlei did not find a good way to realize. "In 2008, we didn't realize how simple and childish the previous plans were." Zou Shenglong, former CEO of Xunlei, reflected that after returning to business logic, Xunlei was eager to find a breakthrough. "What we talked about is no longer the big and empty slogan of & lsquo; changing human beings & rsquo; but more about business models.
 
        ”。 However, in the process of transformation, Xunlei made many mistakes. It is said that the board of directors of Xunlei once proposed that Xunlei transform into the game industry, but Zou Shenglong rejected it. He thought that playing games violated his original intention. "How can Xunlei become a game company?", Zou Shenglong believes that Xunlei should find a way to make money and reflect the "value of Xunlei". After repeated internal discussions, this road is "digital distribution". Xunlei decided to launch a video website called "Xunlei look". According to Zou Shenglong, Xunlei's video website is not only for transformation, but also for retaining original users & mdash& mdash; Because Xunlei found that the faster the Internet speed has become the enemy of Xunlei, the faster the user completes the download, the faster he will leave. This means the reduction of advertising revenue. How to let the user stay in Xunlei for a long time became the key to determine the life and death of Xunlei at that time.
 
        However, it has been proved that making videos is not a suitable way for Xunlei. After 2009, with the capital having a clear understanding of the Internet video business, hot money began to pour into the market. Internet video has evolved into a money burning game, and the copyright price has soared. The original 3000 yuan one episode TV series has become 300 million. In this case, many video websites died, and Xunlei Kankan also lived hard, gradually fading out of people's vision. In April 2015, it was sold to Xiangchao international and renamed Xiangchao Kankan. Many years later, Xunlei was resumed. Some people attributed the failure of Xunlei to Zou Shenglong's "stinginess", pointing out that Xunlei had a large amount of cash but was reluctant to invest it.
 
        Some people also think that this accusation is biased. "Video website is a long-term money burning business. Even if Xunlei invests heavily, it is difficult to win in the face of bat supported youaiteng". According to this view, Xunlei will at most become the next one. Xunlei, which is disadvantageous in the transformation of the PC era, has encountered a greater blow in the mobile Internet era. On the one hand, in the era of mobile Internet, users' demand for downloading on mobile phones has been greatly reduced. On the other hand, with the rectification of copyright and the start of the "net action", illegal, pornographic and violent content has begun to be blocked, which has affected the user's experience to a certain extent. Many members who originally paid no longer renew their subscriptions. The data shows that in the fourth quarter of 2014, 350000 members suspended their payments.
 
        In the era of mobile Internet, the transformation of Xunlei, which is dedicated to downplaying the label of download tools, is even more hasty. Internet finance, live broadcast and short video have been tried all over the world, but they still haven't found a suitable way out. It was not until 2017 that the blockchain became a tuyere that Xunlei decided to allin. On October 31, 2017, Chen Lei, who had been the CEO of Xunlei for four months, announced the "allin blockchain" at the press conference. But in fact, behind the allin blockchain, Xunlei also hopes to enter the hot cloud computing field by means of shared computing. The reason for this is that "shared computing has lower marginal cost than cloud computing.
 
        ”。 Chen Lei believes that Xunlei is essentially a decentralized Internet company that started with P2P technology. Genetically speaking, Xunlei has a better chance of success than others when it does shared computing, which ultimately determines the allin blockchain. The so-called "shared computing" is actually to collect idle bandwidth, storage, computing and other resources in ordinary households, build a content distribution network, and then provide them to enterprises. According to an insider, Xunlei's move is equivalent to buying broadband resources from users, which is a very cost-effective approach. In traditional cloud computing enterprises, it is necessary to purchase bandwidth from telecom operators to build networks, arrange servers, and build their own CDN distribution nodes, all of which are high-cost operations requiring capital.
 
        An independent analyst once said that the bandwidth cost of Xunlei's CDN business is only 30% of that of traditional CDN. However, the key lies in how to persuade users to share the broadband they have bought with Xunlei. Before the blockchain business was launched, the NetCenter technology under Xunlei had developed a product called moneymaking treasure. Users can get a reward "crystal" after sharing the bandwidth with this product, and the crystal can be withdrawn. Since then, Xunlei has transformed itself from a company developing "download tools" to a "shared computing"
 
        
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