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Tron announces BitTorrent File System (BTFS) protocol

Oliver Knight
Updated

Tron has announced plans to embed decentralised storage as another blockchain solution into the BitTorrent ecosystem.

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 decentralised 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.”

BitTorrent has plans to utilise its 100 million monthly users to become the world’s largest distributed storage and media sharing network. While testing began earlier this year, the new features will be rolled out by the end of April 2020.

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The BTFS mainnet will be launched for public access and will power all Tron dApps that require decentralised storage.

Although BTT is a utility token, it has attracted a plethora of traders, with a daily trade volume of $165 million at the time of writing. It has also risen by a massive 157% since May 13.

For more news, guides, and cryptocurrency analysis, click here.

The post Tron announces BitTorrent File System (BTFS) protocol appeared first on Coin Rivet.