BTFS Storage Rewards Halved: Impact on Crypto Community

Halving of BTFS Storage Rewards

Singapore, May 28, 2024 – In a bid to sustain the growth and success of the BitTorrent ecosystem, BTFS is gearing up to implement a halving on the next round of rewards for storage miners on the BTFS network. Starting from 00:00 (UTC) on June 25, 2024, the daily rewards for storage miners will be halved from 15 billion BTT to 7.5 billion BTT.

BTFS, the BitTorrent File System, is a decentralized file storage system that leverages blockchain technology and peer-to-peer transmission to enhance file security and reliability. With over 8 million nodes, including more than 6 million super miners, the BTFS network is experiencing rapid growth. To support efficient operations and node performance, BTFS has initiated a rewards program, providing an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019.

The halving of rewards every two years aims to stimulate miners to optimize node operations and improve efficiency. Additionally, an upgrade to the official BTFS website and the release of BTFS v3.0 Mainnet are on the horizon. These developments are expected to enhance the protocol’s efficiency, expand the user base, and improve overall functionality.

The goal of BTFS is to continuously refine storage rewards strategies, expand the network of nodes, and provide developers with an efficient, secure, and reliable storage solution. By boosting capacity and transaction efficiency, BTFS aims to enhance the BitTorrent Chain network.

For more information, visit the official website of BitTorrent or µTorrent. Don’t hesitate to reach out to John Chen at [email protected] for media inquiries.

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