Usually looks like: acestream://[hash] or https://acestream.net/...

You don't need the full Ace Player – VLC works great with Acestream links. Here's how:

If it doesn't work, go to VLC preferences → Input/Codecs → increase network caching to 5000ms.

Download from acestream.org – this runs the P2P backend.

Use Ace Player (built on VLC) – plays Acestream links out of the box. Use responsibly – only stream content you have rights to.