To sustain the growth and success of the BitTorrent ecosystem, BTFS will implement a halving of storage miner rewards on the BTFS network. Starting at 00:00 (UTC) on June 25, 2024, daily rewards for storage miners will be reduced from 15 billion BTT to 7.5 billion BTT.

The BitTorrent File System (BTFS) is a decentralized storage system using blockchain technology and peer-to-peer transmission. It distributes files across multiple nodes, enhancing security and reliability, and provides rapid file transfer and access. BTFS incorporates features from the BitTorrent Chain (BTTC) like cross-chain connectivity and multichannel payment options, significantly improving user experience.

Currently, the BTFS network boasts over 8 million nodes, including more than 6 million super miners, according to BTFS SCAN. To support these nodes, BTFS initiated a rewards program, distributing a total of 25 trillion BTT since the BTFS Mainnet launch in 2019.

Every two years, BTFS undergoes a rewards halving, reducing storage miner rewards by half. This halving encourages miners to enhance node performance by optimizing operations and reducing waste.

Additionally, the BTFS technical community website will be upgraded, and BTFS v3.0 Mainnet will be released in conjunction with the halving. These updates are expected to improve protocol efficiency, expand the user base, and enhance overall functionality.

Looking forward, BTFS is dedicated to continuously improving its storage rewards strategies to expand the network of participating nodes, providing developers with an efficient, secure, and reliable storage solution. This will boost both the capacity and transaction efficiency of the BTTC network.

About BTFS:

The BitTorrent File System (BTFS) is a protocol and web application offering a decentralized file storage and sharing mechanism, as well as a platform for decentralized applications (DApps). The BTFS team actively adjusts network operations and BTT market strategies, including upload prices and airdrop reward schemes.

About BitTorrent:

Founded in 2004, BitTorrent, Inc. is a consumer software company based in San Francisco known for its leading peer-to-peer sharing technology. It operates the world's largest decentralized P2P network, accounting for 22% of upstream and 3% of downstream global traffic. BitTorrent's products, BitTorrent and µTorrent, have over 100 million active users and have been installed on more than 1 billion devices in 138 countries.

Since November 2018, TRON (TRX), Binance (BNB), and Bitcoin (BTC) holders can purchase one-year subscriptions for BitTorrent or µTorrent products, including Ads Free and Pro, which offer features like antivirus screening and HD file playback. For more information, visit bittorrent.com or utorrent.com.