BTFS Overview

BTFS Overview

BTFS, as an innovative force in the BitTorrent ecosystem, has not only accelerated the development of distributed file sharing technology, but also taken a leading position in the field of DePIN. DePIN - which stands for Decentralized Physical Infrastructure Network - encourages network participants to jointly invest resources to deploy and maintain a more stable and efficient network infrastructure through a token reward mechanism. Current mainstream public blockchains mostly focus on computational tasks but lack cost-effective, scalable, and high-performing file storage and sharing solutions.

These are exactly what BTFS aims to clear up. Additionally, underpinned by BTTC, BTFS enables cross-chain connectivity and multi-channel payments, making it a more convenient choice. The integration of BTFS, BitTorrent, and the BTTC network will boost DApp developers' efficiency in serving a wider market.

• The documentation walks developers through BTFS 3.0 setup, usage, and API references.
• Please join the BTFS community on Discord.

Decentralized Physical Infrastructure Networks (DePINs), catalyzed by advancements in blockchain technology, aim to revolutionize network architecture by moving away from centralized infrastructure. This shift is made possible by the evolution of blockchain infrastructure and advancements in cryptography, enabling a global collaborative effort to establish open and permissionless infrastructure. This approach disrupts traditional infrastructure models, which are typically dominated by major corporations. The BitTorrent File System (BTFS), an open and distributed file storage system, aligns perfectly with the goals of DePIN.

BTFS represents the next generation of decentralized file storage systems powered by blockchain technology and peer-to-peer transmission. It allows users to store files across multiple global nodes, enhancing file security and reliability while facilitating faster access and transfer. This setup provides an effortless file management and sharing experience. Additionally, it incorporates key features from the BitTorrent Chain (BTTC) network, such as cross-chain connectivity and multichannel payment options.

As a stellar player in the DePIN space, BTFS v3.0 boasts the following advantages:

• Decentralized Storage: BTFS has achieved global decentralized file storage through its distributed network. Unlike centralized storage on single servers, this method significantly increases data redundancy and reduces the risk of data loss. The BTFS v3.0 update includes enhancements such as symmetric encryption for secure data transmission and new features like Keystore files for managing BTFS nodes.
• Enhanced Security: The decentralized nature of data storage makes it difficult for attackers to target all nodes simultaneously, greatly improving the system's overall security.
• Censorship-Proof: The inherent nature of a decentralized storage system makes it extremely difficult for any single organization to censor or block content, ensuring the free flow of data.
• Seamless Integration Into the BitTorrent Ecosystem: The seamless integration of BTFS with the BitTorrent ecosystem allows users to freely access and share files and facilitates cross-chain transactions and payments via BTTC.
• User-friendly API and Visual Interface: A newly updated BTFS website offers a user-friendly API and visual interface, featuring detailed road maps on Storage Reward halving and various other modules.
• Transparent Market Mechanism: The market mechanism within BTFS ensures complete transparency in storage and payment processes, providing users with maximum visibility into their data.
• Encryption Technology: By leveraging advanced encryption technologies, BTFS enhances data privacy and security, ensuring data integrity and preventing unauthorized access during transmission and storage.

In addition to these features, the upgraded BTFS v3.0 introduces a crucial model update—the Reward Halving. As the BTFS network and its user base grow, the reward halving is likely to contribute to the reliable and sustainable growth of the entire ecosystem.

BTFS, a leading project in the space of DePIN, is committed to advancing and enhancing the decentralized physical infrastructure network. The improved token economics of BTFS not only align with the vision of DePIN but also lay a solid foundation for the growth of decentralized networks. As technology and community evolve, BTFS is poised to play an increasingly significant role in the decentralized world.

Architecture

The BTFS network is primarily composed of BTFS nodes, including renters and hosts. Renters can upload files by paying WBTT while hosts provide storage in the network for BTT rewards.

Official Contract

We have added some smart contracts to enable node recommendation, payment, airdrops, among other features, mainly including:

• Factory Contract
• Vault Logic Contract
• PriceOracle Contract
• Online Proof Contract
• File Metadata Contract

You can view the latest mainnet and testnet addresses of these contracts on BTFS Scan Official Contracts page

Below is the description of these contracts：

Factory Contract

The officially deployed factory contract is used to deploy vault contracts for the BTFS nodes. The factory ensures that every node uses a legitimate and verifiable vault.

Vault Logic Contract

Each node will deploy a vault contract which can be used for paying storage fees (WBTT). The renter pays the host in the form of cheque after uploading files to BTFS. The host can cash out WBTT in the renter’s vault with the cheque received. In order to make the vault contract upgradeable, the factory deploys the vault in the UUPS proxy mode, which requires an implementation contract, namely the logic contract. The vault’s corresponding logic contract can be upgraded by the node owner only.

PriceOracle Contract

PriceOracle contract is used to timely update the storage prices in the entire BTFS network.

Online Proof Contract

This contract stores the Merkle root of the daily online proof data of all nodes, and provides a verification interface to verify the user’s online proof data.

File Metadata Contract

The file metadata contract holds metadata information such as filename, extension and file size for BTFS files.

BTFS Pricing

WBTT Price

Other Token Price

After BTFS 2.3, multi-token (TRX, USDD_t, USDT_t) is supported to pay BTFS cheques, and the
price of other token will be converted to BTT based on the current exchange rate. The specific price can be queried in Price Oracle Contract

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Note: When uploading files, renters can set the number of redundant files (excluding original files) to --copy=num. For instance, if num equals 2, it means that three files have been uploaded with one original file and two redundant files.The pricing structure shown above is still under test and is subject to further changes. The team will work to introduce a more advanced pricing structure in the near future.