TRON Announces BitTorrent File System Protocol
Blockchain platform Tron, which is behind the decentralized, web focused cryptocurrency TRX, announced plans to develop a BitTorrent-based version of decentralized file system InterPlanetary File System (IPFS).
BitTorrent raised $7.2 million in just 15 minutes during a token sale in January. The firm will incorporate the BitTorrent File System (BTFS) protocol to allow users to receive and host storage on their computers with other peers and businesses.
#BTFS is a continuing step in our mission to create a decentralized internet that allows everyone to share in the wealth of web commerce. Follow @BitTorrent Official website for more technical progress of BTFS: https://t.co/YGM4c0cQ4B #BTT $BTThttps://t.co/GE69Fw3CA3
— Justin Sun (@justinsuntron) May 31, 2019
“BTFS is a continuing step in our mission to create a decentralized internet that allows everyone to share in the wealth of web commerce,” said Justin Sun, founder of TRON and CEO of BitTorrent.
“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.”
The release cites a 2018 study by the McKinsey Global Institute, which claims that “5,750 of the world’s largest private and public companies with revenue of $1 billion or more found that the top 1 percent of those companies captured 36 percent of the economic profit.”
“A decentralized internet would create a scenario where some of those profits, from ads sales, data collection and other means, are shared back to people who opt in to big companies’ business models,” claim Tron representatives.
BitTorrent plans to leverage its 100 million BitTorrent monthly active users, more than 1,000 TRON full nodes, 27 Super Representative nodes, and global TronGrid nodes, to become the world’s largest distributed storage and media sharing network. Internal testing began this quarter, with full implementation expected by the end of the first quarter of 2020.
In Q3 2019, BTFS Mainnet will be launched for public access and will power all TRON decentralized applications that require a decentralized storage network. Preliminary developer tools will be available and a few outstanding popular dApps built by the community will be running on the platform, including the upcoming TronMovie and BitTorrent Pix.
Subscribe to our Newsletter
<Related posts
- Creating Token In 5 Minutes. Enecuum Example
- NEAR Co-Founder: Bitcoin’s Level of Security Isn’t Necessary for Most Blockchain Use Cases
- Voice Social Media App Goes Live, Dan Larimer Shares Glimpse of New World Order
- Blockstack’s Muneeb Ali: Bitcoin as the Most Secure Blockchain Will Be the Best Foundational Layer for Web 3.0
- How Binance Hides Its Legal Structure From Users and Regulators
- Emin Gün Sirer Reveals Fundamentals of a Perfect Blockchain. PoW Mining Is Not Included
- Mastodon Review: Federation of Bubbles
- NewTON Blockchain Launched Test Network, Building Upon TON’s Original Source Code