BitTorrent File System On Track for Its Q3 2019 Target With Official Mainnet Launch

| Updated
by Bhushan Akolkar · 3 min read
BitTorrent File System On Track for Its Q3 2019 Target With Official Mainnet Launch
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With the mainnet launch, the BTFS peer-to-peer file storage platform inches one step closer to becoming the world’s largest decentralized storage system.

BitTorrent File System (BTFS) achieves an important milestone with its official mainnet launch. This is a major step ahead in proceeding ahead with the complete integration with the BitTorrent ecosystem.

BitTorrent is a popular and the world’s largest peer-to-peer file-sharing platform. Last year, the TRON Foundation acquired the BitTorrent platform. The BTFS is a protocol and the network’s mechanism that enables peer-to-peer storage and sharing of digital content in a decentralized file system. Upon successfully achieving the mainnet launch, the TRON Foundation writes:

“Over 3000 new BTFS nodes have been added to BT Client during this roll-out, bringing BTFS one step closer to becoming the world’s largest and first scalable decentralized storage system”.

With the launch of the mainnet, the BTFS protocol brings two main new features. The first one allows to removes files and directories. This allows users to delete files on their local nodes just via the command line. The second feature lets BTFS users to import a TRON private key which is a 12-word BIP39 seed phase. The feature also allows users to generate a seed phase and initialize BTFS in a convenient and secure manner. Once done, users can then upload, transfer and download the files.

Advantages of a BTFS System

The major USP of a BTFS system is that it offers an absolute decentralized storage for user data and information. Moreover, users get better control over their own data will little disruptions. It also ensures ultimate security and safeguarding of user data.

The BTFS platform has significantly lower storage and maintenance costs in comparison to other decentralized platforms. BitTorrent plans to incorporate an Advanced Incentive Mechanism with the help of a token economy. BTFS plans to incentivize users for sharing more storage space and retrieving more files. This way it will also facilitate larger value exchanges of stored files in the entire network ecosystem.

The BTFS integration with BitTorrent will give DApp developers quick access to data thereby aiming for more scalable solutions. The announcement reads:

“The official launch of BTFS mainnet signals that BTFS has delivered on its plan for Q3 2019 and is on track to further integrate with BitTorrent, that a truly decentralized storage system available to DApp developers has been implemented, and that a truly scalable, content-trackable and permanent distributed network is right on the horizon”.

In Q3 2019 the BTFS platform will power all TRON DApps which need decentralized storage network. Later this year, BTFS plans to integrate the native BTT token and incentivize users to create efficient storage and file-sharing marketplace. To grow the BTFS community at a faster rate, the platform plans to launch a comprehensive toolset.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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