BTFS Mainnet v1.0.2 Beta Goes Live, Introducing BTT as Its Native Token
As an innovative solution to distributed file storage, BTFS has reported over 75,000 nodes since the launch of its Mainnet in October 2019, becoming one of the benchmark blockchain implementations across the globe. With this revolutionary upgrade, BTFS will deliver a next-generation decentralized storage service to countless users.
BTFS Mainnet v1.0.2 Beta is dedicated to a more efficient, scalable, predicable, available and stable BTFS decentralized protocol. It features revolutionary innovations and improvements in BTT (BitTorrent Token) token payment, local disk space utilization, file storage, resource integration and offline functions, proposing a game-changing one-stop solution to mass data storage in the era of information explosion.
As the native token on BTFS Mainnet, BTT (BitTorrent Token) will be further integrated into BTFS to create a fully decentralized storage network embedded with a token economy. As the main incentive on the BTFS network, BTT (BitTorrent Token) will be used to encourage users to share idle disk space and boost value exchanges in the ecosystem.
Currently users can become a Host or Renter by setting daemon to earn or spend BTT (BitTorrent Token) token. We will soon launch a more user-friendly BTFS Host WebUI so that most end users can become Hosts to earn BTT (BitTorrent Token) even if they are not tech-savvy. Moreover, We will partner with top-notch developers worldwide to launch a series of premium DApps in Q1, 2020 to inject greater use value and commercial value into the BTFS network.
To put it simply, BTFS breaks the monopoly of all centralized forms of file uploading and downloading. It gives freedom back to everyone, reminds us of our original motive to invent cloud storage and keeps “torrents” that used to easily go missing more secured. It provides us with a freer, faster and safer way to store files, and opens a brand new window into a decentralized Internet.
BTT Token Integration into BTFS Mainnet
In the one year following its birth, BTT (BitTorrent Token) has provided a fresh user experience to hundreds of millions of people worldwide. The integration of BTT (BitTorrent Token) into BTFS this time will provide great liquidity to the ecosystem and introduce monetization to decentralized storage.
In the BTFS network, BTT (BitTorrent Token) incentivizes users to share their storage space that boosts resource utilization in a broad sense, and enables content creators to earn and spend cryptocurrencies without needing a third-party. Ultimately, BTT (BitTorrent Token) will help build a fair and efficient file sharing and storage system with dynamic value exchanges in the network ecosystem.
We firmly believe that by putting BTT (BitTorrent Token) into an actual use case, this major upgrade of BTFS Mainnet will fully release the potential of BTT (BitTorrent Token) and bring BTFS closer to its users.
Five New Features of BTFS Mainnet:
Providing storage space: This update allows go-btfs Daemon operators to participate as hard drive Hosts. Hosts can rent their hard drive space to receive BTT (BitTorrent Token) rewards and configure their storage length and storage capacity.
Purchasing storage space: Go-btfs Daemon operators can also participate as Renters. Renters can use BTT (BitTorrent Token) to purchase decentralized storage space, choose the storage length and upload files onto the BTFS network, where files will be shareded and stored among 30 reputable hosts by default. In addition, Renters can fast retrieve files stored in the storage network.
Safe storage: BTFS network keeps track of which files are sharded onto which hosts, and will periodically challenge hosts with proof of storage to ensure the file shards are still stored and accessible. BTFS network will proactively fix the file if the missing file shards have exceeded the threshold value. Meanwhile, the network scores all potential file hosts based on their behavior traits (uptime, availability, location, etc.) to ensure that Renter has access to hosts of the highest quality.
Integration of TRON Wallet: BTFS can easily integrate its BTFS nodes with the TronLink wallet. The integration of BTFS network into the BTT (BitTorrent Token) token economy also enables the entire BTFS system to function better.
Offline signature: Offline signature means signing without Internet connection and broadcasting the original data signed on the network afterwards. With offline signature, BTFS system provides users with a safer storage and management.
Five New Features of BTFS Mainnet:
Reliability: BTFS uses a decentralized service provider to control the server, leaving no room for any disruptions to the stored files caused by local interruptions or denial-of-service attacks.
Lower Price: unlike other platforms like EOS where storing 1 MB data might cost over $150, it’s very cheap to store files on BTFS, which significantly lowers the storage and maintenance cost.
Greater Decentralization: BTFS provides a more flexible storage service while guaranteeing file security by safeguarding users’ data in a decentralized way.
Advanced Incentive Mechanism: by introducing a token economy, BTFS will incentivize users to share more storage space and retrieve more files, facilitating greater value exchanges of stored files in the network ecosystem.
Advanced encryption method: BTFS adopts state-of-the-art encoding methods and file-repair technologies, which guarantees the confidentiality and security of the files. In particular, stored files have over 99.9999% availability as files are sharded and distributed to multiple reputable hosts on BTFS.
User-friendly UI: It is easy to become a host or a renter and join the BTFS network. Hosts can customize payout frequency, storage price, bandwidth price, bandwidth limits, maximum storage length, and maximum storage capacity. Renters can customize their file storage length, replication factor, and maximum price point. These basic features will give users an initial impression of BTFS and further insights on decentralized storage system. For more instructions, please refer to https://docs.btfs.io/.
Plans for BTFS Mainnet in Q1 2020
● Launch BTFS Host WebUI and integrate it into BitTorrent and µTorrent clients.
● Set up autotests for all BTFS components.
● Further improvements on BTFS scalability.
● Land developers onto BTFS for network building and development.
About BTFS
BitTorrent File System (BTFS) is both a protocol and a network application that provides a content-addressable, peer-to-peer mechanism for storing and sharing digital content in a decentralized file system. In the meantime, BTFS provides a foundation for Decentralized Applications, known as DApps.
About BitTorrent
The BitTorrent Protocol is the largest decentralized protocol in the world with over 1 billion users. The Protocol was developed and was since maintained by BitTorrent company. Among its various forms of implementations, BitTorrent and μTorrent (often referred to as “utorrent”) remain the most popular. The BitTorrent Protocol has reached a strategic partnership with the TRON Protocol, making TRON the world’s largest decentralized ecosystem and BitTorrent the world’s largest distributed application. On July 24, 2018, TRON completed the acquisition of the P2P downloading network BitTorrent and all its products.
About TRON
TRON is dedicated to building the infrastructure for a truly decentralized Internet. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers high-scalability, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem. The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
On July 24, 2018, TRON acquired BitTorrent Inc., an Internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is smart, highly scalable, and keeps creators and consumers in control of their content and data. More than 170 million people use BitTorrent products every month. BitTorrent Inc.’s protocol drives 40% of the world’s Internet traffic every day.
