To maintain the long-term stability of the BitTorrent ecosystem, BTFS is about to implement the next round of BTFS mining reward halving measures. Starting from 00:00 (UTC) on June 25, 2024, the daily mining reward for storage miners on the BTFS network will be halved from 15 billion BTT to 7.5 billion BTT. This move will provide favorable support for the development of the entire BitTorrent ecosystem.
BTFS (BitTorrent File System) is a new generation of decentralized file storage system based on blockchain technology and peer-to-peer transmission. BTFS allows users to store files in a distributed manner on multiple nodes, improving the security and reliability of files. At the same time, BTFS also supports fast file transmission and access, allowing users to manage and share files more conveniently. In addition, BTFS also integrates the functional advantages of the BitTorrent Chain (BTTC) network, supports cross-chain interoperability and multi-channel payment, bringing great convenience to users.
The BTFS network is in a stage of rapid growth. According to BTFS SCAN data, the current number of BTFS nodes has exceeded 8 million, of which the number of super miners exceeds 6 million. In order to encourage the efficient operation of community nodes, the BTFS community has launched an incentive plan. Since the launch of the BTFS protocol mainnet v1.0 in 2019, a total of 25 trillion BTTs have been rewarded.
The half-life of BTFS mining rewards is two years. Starting from 00:00 (UTC) on June 25, 2024, the mining rewards of storage miners on the entire network will be adjusted in half every two years.
In addition, with the gradual implementation of the mining reward halving policy, the BTFS technical community will also release a new version of the BTFS v3.0 mainnet protocol. As the BTFS protocol continues to iterate and upgrade, the number of users and market size will continue to increase, ultimately achieving a positive ecological cycle.
In the future, BTFS will continue to optimize its strategies to attract more nodes to participate in BTFS file storage, provide efficient, secure and reliable storage solutions for ecosystem developers, ensure that ecosystem participants can get a better experience, and further promote the growth of the BTTC network scale.
BTFS will be fully updated in the v3.0 upgrade, covering the BTFS protocol, official website and BTT halving. As one of the most promising projects in the DePIN track, the BTFS protocol is constantly iterating and improving, which will further enhance storage efficiency, user numbers and market size, forming an ecological positive cycle.