Justin Sun has published an open letter to the community and supporters of the TRON Foundation to provide information about the latest developments in the ongoing projects. The letter mainly concerns BitTorrent and its three sub-projects: BTFS, BT Speed and BLive.
BitTorrent File System – BTFS
BTFS is both a network protocol and an implementation. It provides a peer-to-peer mechanism for data storage and a means for decentralised digital content sharing. The BitTorrent File System is a variant of the IPFS (InterPlanetary File System) open-source protocol.
The BitTorrent File System (BTFS) mainnet has been online for a few days together with the Windows BT Classic client.
BTFS already has over 3000 new nodes, making the BitTorrent network even more scalable and decentralised in terms of storage.
Among the features of the BitTorrent File System, there is also the possibility to delete files and folders from local user nodes directly from the command line and to initialise a BTFS node using a private key, seed via BIP39, or a dedicated seed phrase.
One of the strengths of this protocol is that it has a decentralised system for controlling the servers, which means that it has an advantage in terms of security and reliability since it can prevent interruptions or denial-of-service (DoS) attacks.
The objectives of Q4 include an upgrade of the infrastructure for BTFS, an increase in performance and greater scalability of the network as well as a substantial increase in the number of nodes.
By the end of the year, BTT tokens will be gradually integrated into the BitTorrent File System, providing a system of incentives to use the product and thus allow users to earn tokens. The intention is to build a decentralised and autonomous ecosystem based on 5 layers:
- Node information layer: knows the information about the status of the network;
- File information layer: knows the information about each file;
- Incentives layer: assigns a score to the nodes according to certain criteria;
- Fraud control layer: this concerns the integration of BTFSGuard and mechanisms for the automatic repair of chunks;
- Payment processing layer: it will manage payments using BTT tokens.
The developers are also working on improving the pricing strategy in order to encourage the upload and download of files. A survey will soon be launched to understand the needs of the community and those who participate will be rewarded with 100 BTT.
BitTorrent Speed – (BT Speed)
BitTorrent Speed (BT Speed) is the new program that integrates support for the BTT token to speed up downloads and to earn BTT tokens through file sharing. uTorrent users can get faster download speeds and earn tokens through file sharing.
As for earning BTT tokens through file seeding, there are several factors that will determine this. It is very important, for example, to request a certain file: if a file is in great demand, there will be a higher gain. It will also depend on how many seeds a given file has: the gain will be inversely proportional to the number of seeds. The smaller the seeds, the higher the gain.
BT Speed has been active since July on a special version of uTorrent available for Windows that allows setting up the wallet and managing the BTT tokens. To date, it has reached almost 20,000 users, 7,000 of whom use the network daily. More than 1,000 users have deposited or withdrawn funds through the built-in exchange.
The new release, which is currently being rolled out, allows access to the wallet through any TRON wallet and the import of an existing wallet into BT Speed. As a thank you to the community for the support, an AirDrop on-demand has been announced: simply solve a captcha to get 50 BTT.
BitTorrent Live – BLive
BitTorrent Live Streaming or BLive is a platform where users can create video content and share it with other users, earning BTT tokens or other cryptocurrencies. In addition, the platform is designed to live stream audio, instant messaging and will contain a service for the deposit and withdrawal of BTT tokens.
Some of the advantages of using the BitTorrent Live Streaming platform are:
- A base of 100 million users per month, thanks to the BitTorrent ecosystem;
- A system based on crypto that allows contributing without payment restrictions that are in place in some countries;
- A 7:3 profit rate since 70% goes to the platform and 30% to the content creator, an advantage given that traditional platforms in this sector usually have a rate of 9:1.
The platform will be active from Q4 but Justin Sun has already announced the arrival of the first Alpha. BLive is in an embryonic state but the developers are collecting as much feedback as possible from beta testers in order to improve it.
TRON Foundation: niTROn summit in 2020
In the end, Justin Sun has invited the community for the niTROn summit organised by the TRON Foundation to be held in Seoul on February 15th-16th.