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TRON announces launch of BTFS mainnet and mining model with global rewards

  • TRON CEO Justin Sun announced the launch of the BTFS mainnet that will have a globally rewarding mining model for all users.
  • The BTFS mainnet offers 6 benefits to its users ranging from low prices to a friendly user interface.

TRON CEO Justin Sun announced and revealed details about the launch of the mainnet for the BitTorrent File Sharing System (BTFS). The BTFS was created as part of a cooperation between TRON and the DLive streaming platform. Its development has been one of the priorities of the cooperation between the platforms in recent months.

According to the website, BTFS is the first scalable and decentralized storage system. Fully integrated with the TRON blockchain, its users can activate their nodes through wallets that support the cryptocurrency. Its development has had a portion of controversy.

Being a bifurcation of the IPFS system, the creator of this system, Juan Benet, accused TRON and Sun of stealing his brand, logo, parts of his Whitepaper and code to launch BTFS. This created a lot of debate and was described by members of the crypto community, such as the co-creator of Ethereum Vitalik Buterin, as something painful for the industry.

New mining model for TRON’s BTFS

In the livestream, Sun celebrated the launch of the BTFS mainnet and invited all viewers to visit the BitTorrent website to download and start using the platform. According to TRON’s CEO, all viewers can start winning BTTs at any time, from anywhere. Sun said BTFS offers 6 benefits to its users: reliability, low prices, greater decentralization, advanced incentive mechanisms, advanced encryption methods, a friendly user interface.

In addition, it announced a new mining model that is fully compatible with IPFS mining machines. That way, Sun wants users who own this hardware to be able to use them again for BTT mining and not be left behind. IPFS mining has a mixed consensus mechanism that uses Proof-of-Replication with Proof-of-Spacetime, and although Sun did not say so explicitly, it can be assumed that BTFS mining will work the same way to allow the above hardware to operate.

Users who want to mine BTT with the BTFS can download the BTFS bundle with the BitTorrent client from the official website, if they use Windows. For Mac and Linux users it is necessary for the user to set up his own node by following the steps in the BTFS FAQ section. Sun said there will be 6 mining reward models: storage space mining, BTFS storage space mining competition, node repair mining, node reputation mining, storage verification mining, CDN storage mining.

Finally, the livestream addressed the issue of possible comparisons between BTFS and IPFS. As a way to protect against future accusations, it was clarified that BTFS is a unique product of BitTorrent, the official developer of the BitTorrent protocol. Below you can see the full livestream with Justin Sun:

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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