Singapore, May 29, 2024 – BTFS, a decentralized file storage system that utilizes blockchain technology and peer-to-peer transmission, has announced plans to implement a halving on the rewards for storage miners on its network. Starting from June 25, 2024, the daily rewards for storage miners will be reduced by half, from 15 billion BTT to 7.5 billion BTT.
BTFS allows users to store their files across multiple nodes in a distributed manner, enhancing file security and reliability. It also offers rapid file transfer and access, providing users with greater convenience in managing and sharing files. By integrating key features of the BitTorrent Chain (BTTC), BTFS significantly enhances the user experience.
Currently, the BTFS network has over 8 million nodes, including more than 6 million super miners, according to BTFS SCAN. To support the efficient operations of these nodes, BTFS initiated a rewards program and has provided a total of 25 trillion BTT since the launch of BTFS Mainnet in 2019.
The halving of rewards will prompt miners to improve node performance by optimizing node operation and reducing waste. In addition, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0 Mainnet will be scheduled in sync with the halving. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance overall functionality.
Looking ahead, BTFS is committed to continuously refining its storage rewards strategies, aiming to expand the network of nodes participating in file storage on BTFS. The goal is to provide developers with an efficient, secure, and reliable storage solution, boosting both the capacity and transaction efficiency of the BTTC network.
About BTFS:
BTFS is a protocol and web application that provides a content-addressable peer-to-peer mechanism for storing and sharing digital content in a decentralized file system. It also serves as a base platform for decentralized applications (Dapp). The BTFS team has been making dynamic adjustments to upload prices and airdrop reward schemes based on the latest network operations and BTT market sentiment.
About BitTorrent:
BitTorrent, Inc. is a consumer software company based in San Francisco, founded with a leading peer-to-peer sharing technology standard in 2004. Its protocol is the largest decentralized P2P network globally, driving a significant amount of internet traffic. BitTorrent’s flagship 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 more than 138 countries worldwide. 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, since November 2018. Pro includes anti-virus and anti-malware screening, file converting, and HD playability.
For more information, please visit the websites mentioned above.
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