BTFS v1.1.0 Goes Live, Delivering New BTT Rewards to Millions of BitTorrent Users
Following its mainnet launch and a few iterations in the past six months, BTFS finally introduced its official version 1.1.0 with fully integrated BTT economy. The upgraded BTFS will break down boundaries of decentralized storage for the first time and make rewards available at users’ fingertips.
The simple and intuitive Host UI featured in BTFS v1.1.0 delivers a fresh experience to all users and allows newcomers to quickly get onboard. In particular, we have integrated our Host UI into BitTorrent Windows client within the global range, and will deploy it bit-by-bit to a selected proportion of users.
The biggest surprise BTFS v1.1.0 brings to users is the exhilarating first-hand experience of BTT token economy. Hosts simply drag the block representing the host storage to see their potential BTT earnings. In addition, users can customize the local storage rented out to BTFS, and the status of the Host — online/offline. These updates will greatly incentive the use of BTFS and lower the barrier for end-users to access decentralized storage technology.
The significance of officially launching BTFS v1.1.0 is two-fold. On the one hand, it is better positioned to incentives users to commit idle hard drive storage, injecting an impetus to the exchange of storage value in the BTFS ecosystem; while on the other hand, the move also pushes the advancement of decentralized storage system within the TRON and BitTorrent ecosystem, offering a new and real sample for global decentralized storage solution.
There are 2 ways to access this UI:
1. If you can see a “BTFS” tab in your BitTorrent Windows Client’s, you can click the tab, and the Host UI will pop up in your default browser window (selected users only).
2. Run BTFS node in your computer, after starting the daemon, open url: http://127.0.0.1:5001/hostui
Both login methods are intuitive and smooth, users can choose according to their own preferences.
What can the beta version Host UI do:
1. User can choose desire local storage size to host for BTFS network
2. User can see their online/offline status, host score, uptime percentage, and how many contracts are currently committed
3. User can see the up-to-date BTT earnings and payment dates
4. User can see the current host pricing of BTFS network
5. User can see how much storage has been used by BTFS network, and can customize the Host storage commitment
6. User can see their current node version and their node ID
7. User can contact the team of BTFS to provide feedback, including feature requests and bugs, etc.
Technical Feature Updates:
1.Custom Hosts Mode — You have the option to specify a custom number of hosts, as well as the specific host IDs for file storage. The number of hosts specified must match the number of shards.
2.Contracts List Command — Added a command btfs storage contracts sync to append the contract info from Escrow into the hosts’ contract list
3.Display Storage Disk Size — Now, calling btfs storage stats info returns the storage disk total size
Six major advantages 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
2019 Q2
- Launch testing network
- Launch Developers.bittorrent.com
2019 Q3
- Launch BTFS Mainnet
- Integration of BTFS into BitTorrent Client
2019 Q4
- Launch a comprehensive toolset
- Launch BTFS Accelerator
2020 Q1
- Launch BTFS Mainnet v1.0.2 Beta
- Integrate with BTT token economy
- Further improvements on BTFS scalability
2020 Q2
- Launch BTFS Host WebUI
- Integrate into BitTorrent clients
- Expand BTFS community
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.
