Why are NFT and BTFS born to be together?
TRON unveiled its first NFT standard protocol TRC-721 on December 24, 2020! NFT stands for “non-fungible token”, which means the unique token. NFT is a broad term covering each and every unique non-fungible token that cannot be split, and it is therefore also called the indivisible token.
Justin Sun, TRON Founder & BitTorrent CEO, commented that “NFTs have huge untapped potential. We are likely to find the next big thing in blockchain being the TRC-721-compliant applications and base protocols that map physical and virtual assets onto the blockchain.
So far, “Femme nue couchée au collier (Marie-Thérèse)” by Pablo Picasso and the “Three Self-Portraits” by American artist Andy Warhol acquired at $20 million and $2 million by Justin Sun at Christie’s 20th Century Art Evening Sale have been uploaded to the BTFS network.
Reasons for combining NFT and BTFS
1. NFT requires stable data storage
BTFS stores data in a distributed way, meaning that a global network is created with countless peers in it for storage instead of simply backing up data in several server rooms. This way, NFTs will not get lost or invalid due to server error or website shutdown.
2. Ensure reliability of NFT data in storage
Data to be on the BTFS nodes will be split into a number of file shards, then encrypted and hosted on nodes across the globe. BTFS network is able to retrieve and repair data to make sure that the NFTs stored are reliable.
3. Ensure ownership of NFT data
An NFT stored on the BTFS network cannot be tampered with, and its ownership belongs to its storer.
Only by storing NFTs on the BTFS distributed network can the requirements of NFT be fundamentally met. For miners on the BTFS network, they are likely to see a surge in storage demand after BTFS supports NFTs.
Annex:
Tutorial | Step-by-step guide to uploading NFT (TRC-721) Metadata to the BTFS network
About BitTorrent
Founded with a leading peer-to-peer sharing technology standard in 2004, BitTorrent, Inc. is a consumer software company based in San Francisco. Its protocol is the largest decentralized P2P network in the world, driving 22% of upstream and 3% of downstream traffic globally.
Its flagship desktop and mobile products, BitTorrent and µTorrent, enable users to send large files over the internet, connecting legitimate third-party content providers with users. With over 100 million active users, BitTorrent products have been installed on over 1 billion devices in over 138 countries worldwide.
Since November 2018, TRON (TRX), Binance (BNB), and Bitcoin (BTC) holders have the opportunity to purchase one-year subscriptions of BitTorrent or µTorrent products, including Ads Free and Pro for Windows. Pro includes anti-virus and anti-malware screening, file converting and playability in HD. Users can visit bittorrent.com or utorrent.com to learn more.
