BitTorrent File System will Go Live on Testnet Today Says Justin Sun
July is going to be a big month for the TRON community. Today being July 1st, 2019, the Tron community will celebrate the testnet launch of BTFS (BitTorrent File System). In a similar way, on July 8, BitTorrent Speed will become available. These are welcoming news from Justin Sun, the creator of TRX cryptocurrency.
“BTFS is a continuing step in our mission to create a decentralized internet that allows everyone to share in the wealth of web commerce,” Justin Sun said. “We’re creating a platform with BTFS, BitTorrent Speed blockchain integration and the BTT utility token to let users quickly and privately interact with each other around the world without a middleman or government intervention.”
BTFS represents the 1st truly viable and scalable implementation of a decentralized storage system that can be used by dApp developers. It is a specially developed file system protocol that is a fusion of BitTorrent and blockchain. It is a variant of the open-source InterPlanetary File System (IPFS) protocol which is a decentralized file system.
“BitTorrent File System (BTFS) is both a protocol and network implementation that provides a content-addressable, peer-to-peer mechanism for storing and sharing digital content in a decentralized file system. BitTorrent Speed rewards BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads. Users now have the opportunity to be a part of the tokenized decentralized internet and support content creators all around the world from their torrent clients.”
The BitTorrent Speed is a platform which many crypto experts believe will make blockchain as a collective term as a social network, search engine, and web browser are to today’s people.
The BTFS Ecosystem Is Comprised Of Five Components.
- It is the next generation of decentralized storage systems.
- TRON network is one of the most important blockchain & DApp platforms in the world.
- The BitTorrent network brings with it 100 million decentralized users via the wide array of client products.
- TronGrid services one of the most important gateways connecting the components of the ecosystem.
- And finally, BTT will introduce native token economics into the BTFS ecosystem, ensuring a fair, useful, and efficient system.