The BitTorrent ecosystem is set to undergo a significant transformation with the implementation of a halving mechanism for storage miners on the BTFS network. Scheduled to take effect on June 25, 2024, at 00:00 UTC, this change will reduce the daily rewards for storage miners from 15 billion BTT to 7.5 billion BTT. This strategic move aims to optimize node performance, introduce the BTFS v3.0 Mainnet, and enhance the overall functionality of the ecosystem.

The BitTorrent File System (BTFS) is a decentralized file storage system that harnesses blockchain technology and peer-to-peer transmission. By distributing files across multiple nodes, BTFS ensures enhanced security and reliability. Additionally, it offers rapid file transfer and access, making file management and sharing more convenient for users. The integration of key features from the BitTorrent Chain (BTTC), such as cross-chain connectivity and multichannel payment options, significantly elevates the user experience.

Currently, the BTFS network is experiencing rapid growth, with over 8 million nodes and more than 6 million super miners, according to BTFS SCAN. To support the efficient operation of these nodes, BTFS initiated a rewards program, providing an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019. The BTFS rewards halving, which occurs every two years, prompts miners to optimize node performance and reduce waste.

In conjunction with the halving, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0 Mainnet are scheduled. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance its overall functionality. BTFS is committed to continuously refining its storage rewards strategies, aiming to expand the network of nodes participating in file storage on BTFS. This will provide developers with an efficient, secure, and reliable storage solution, boosting both the capacity and the transaction efficiency of the BTTC network.

The BTFS team has been working on the latest network operations and BTT market sentiment to make a series of dynamic adjustments, such as upload prices and airdrop reward schemes. BitTorrent, Inc., founded in 2004, is a consumer software company based in San Francisco. Its protocol is the largest decentralized P2P network globally, driving 22% of upstream and 3% of downstream traffic. Its flagship desktop and mobile 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 over 138 countries worldwide. Since November 2018, 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. Pro includes anti-virus and anti-malware screening, file converting, and playability in HD. As the BTFS ecosystem continues to evolve, users can expect enhanced functionality, improved performance, and a more efficient storage rewards system.