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BitTorrent File System is a decentralized file storage and sharing network protocol.[1][2] where hosts offer storage to earn BTT (BitTorrent Token) rewards and renters consume that storage by paying BTT[3]; web3 storage infrastructure[4]. Using the BTFS Gateway, any user can access the existing files on the BTFS network.
Not confuse with BTFS — FUSE based filesystem for torrents.[5][6]
Fork of IPFS[7][8] — BitTorrent protocol is not used there. Similar project: Filecoin[9].
A rebranding of the BitTorrent File System was met with outrage by Juan Benet, creator of IPFS, pointing out similarities between the new BTFS logo and that of IPFS, copy pasting parts of IPFS white papers.[10]
BTFS is made up of TRON Network, BitTorrent network, BitTorrent token (TRC-10 token on the Tron blockchain[11][12]), and the TronGrid service[13].
BTFS incorporates several smart contracts to streamline its operations and ensure reliability.[14]
BTFS wants to offer “vastly reduced storage costs” and “superior security and reliability”.[15]
In 2018 the BitTorrent company was bought by TRON Foundation, a blockchain-based platform[16][17][18]
BTFS was started in 2019[19][20] with announce of Justin Sun.[21][22] It was planned that further improvements will be made and BTFS would be merged with the existing BitTorrent protocol.[23]
In March 2022, the SEC charged Rainberry (ex BitTorrent int.) with fraud for selling cryptocurrencies Tronix (TRX) and BitTorrent (BTT) as unregistered securities.[24][25]
References
edit- ^ Paul (2023-02-19). "What is BitTorrent (BTT) and How Does it Work?". Gate.io. Retrieved 2024-07-28.
- ^ CryptoTvplus (2019-07-01). "BitTorrent File System will Go Live on Testnet Today Says Justin Sun". CryptoTvplus - The Leading Blockchain Media Firm. Retrieved 2024-07-28.
- ^ "BitTorrent (BTT): Working of a Decentralized File-Sharing Platform: Guest Post by Thecoinrepublic.com | CoinMarketCap". coinmarketcap.com. Retrieved 2024-07-28.
- ^ "Wakema(@Winston)'s insights". Binance Square. Retrieved 2024-07-28.
- ^ "BTFS – A Bittorrent Filesystem Based On FUSE". April 11, 2024.
- ^ "Design and Implementation of BitTorrent File System for Distributed Animation Rendering". September 2013.
- ^ Ltd, BitTorrent. "BitTorrent File System (BTFS) to Provide Decentralized Peer-to-Peer Storage". BitTorrent. Retrieved 2024-07-28.
- ^ Gatti, Matteo (2019-10-10). "TRON Foundation: the latest developments of BitTorrent". The Cryptonomist. Retrieved 2024-07-28.
- ^ "How BTFS Measure Up to Other File Storage Solutions". October 13, 2020.
- ^ "Ethereum's Vitalik Buterin on 'Zombie' BitTorrent Under Justin Sun 'Dictatorship'". Apr 17, 2020.
- ^ "BitTorrent File System (BTFS) V2.1.0 Mainnet-Newton is now live". Cryptowisser (in Russian). Retrieved 2024-07-28.
- ^ "What is BitTorrent token (BTT)?". atomicwallet.io. Retrieved 2024-07-28.
- ^ "BitTorrent File System (BTFS) to Take Over Decentralized Storage". October 16, 2020.
- ^ "BitTorrent Chain Overview". www.reflexivityresearch.com. Retrieved 2024-07-29.
- ^ "What Is The Future of BitTorrent File System? | ChangeNOW". ChangeNOW Blog. Retrieved 2024-07-28.
- ^ Paul (2023-02-19). "What is BitTorrent (BTT) and How Does it Work?". Gate.io. Retrieved 2024-07-28.
- ^ "BitTorrent Use Case | CryptoWallet.com". cryptowallet.com. 2022-02-17. Retrieved 2024-07-28.
- ^ "BitTorrent Owner Accused of Profiting From Movie Piracy * TorrentFreak". Retrieved 2024-07-29.
- ^ Candia, Alfredo de (2019-10-01). "BitTorrent File System: mainnet is online". The Cryptonomist. Retrieved 2024-07-28.
- ^ "BitTorrent File System launches mainnet despite Binance delisting BTT token". Yahoo Finance. 2019-10-01. Retrieved 2024-07-29.
- ^ Sarkar, Arijit (2019-10-01). "Bitcoin mining farm in China allegedly burns down as coin records minor fall in hash rate". AMBCrypto. Retrieved 2024-07-28.
- ^ Jakobson, Leo (2019-05-31). "Tron's BitTorrent File System to bring decentralized storage and crypto rewards for filesharing". Modern Consensus. Retrieved 2024-07-28.
- ^ Garg, Ishan (2019-05-31). "Tron's Justin Sun announces BitTorrent's next big project, plans to take on IPFS and Storj". Blockmanity. Retrieved 2024-07-28.
- ^ "BitTorrent owner Rainberry, Justin Sun charged with fraud by SEC". www.bizjournals.com. BayAreaInno. Retrieved 22 March 2023.
- ^ Harland-Dunaway, Christopher (2022-03-09). "The many escapes of Justin Sun". The Verge. Retrieved 2024-07-29.