To ensure the long-term stability of the BitTorrent ecosystem, BTFS is set to implement the next round of BTFS mining reward halving. Starting from June 25, 2024, 00:00 (UTC), the daily storage mining reward for BTFS miners across the network will be reduced from 15 billion BTT to 7.5 billion BTT. This measure will provide favorable support for the development of the entire BitTorrent ecosystem.
BTFS (BitTorrent File System) is a next-generation decentralized file storage system based on blockchain technology and peer-to-peer transmission. BTFS allows users to store files in a distributed manner across multiple nodes, thereby improving file security and reliability. At the same time, BTFS also supports fast file transmission and access, making it more convenient for users to manage and share files. In addition, BTFS integrates the advantages of the BitTorrent Chain (BTTC) network, supporting cross-chain interoperability and multi-channel payments, bringing great convenience to users.
The BTFS network is currently in a rapid growth phase, with BTFS SCAN data showing that the current number of BTFS network nodes has exceeded 8 million, including over 6 million super miners. To incentivize efficient operation of community nodes, the BTFS community has launched an incentive program, having already rewarded 25 trillion BTT since the launch of the BTFS protocol mainnet v1.0 in 2019.
The BTFS mining reward halving period is two years, and starting from June 25, 2024, 00:00 (UTC), the mining rewards for storage miners across the entire network will be adjusted in a halving manner every two years.
In addition, along 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, providing efficient, secure, and reliable storage solutions for ecosystem developers, ensuring that ecosystem participants can have a better experience and further promote the growth of the BTTC network.
BTFS will undergo a comprehensive update 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 will continue to iterate and improve, enhancing storage efficiency, the number of users, and market size, forming a positive ecological cycle.
