Open Letter to the Community on Recent Technical Progress of BTFS, BT Speed and BLive and Future Plans

  • Migration of the keys. Our engineering team made the seed phrase, private, and public keys fully compatible with popular TRON wallets. Why keep many different sets of mnemonic phrases and private keys safe, if everything can be managed in one wallet?
  • Wallet Restoration. Users will be able to import an existing BitTorrent or TRON wallet by using either a seed phrase or a private key and use it within BitTorrent Speed.
  • On-demand AirDrop. As a show of gratitude to new BitTorrent Speed users, we are going to give each user 50 BTT if the user claims the reward and solves the captcha.
  • Security and safety of user’s wallet balances are still our top priorities. That’s why not only we significantly increased security of the Ledger and all server-side environment, but also updated security requirements for local passwords.
  • Scalability. BitTorrent network is the largest decentralized ecosystem in the World counting 250M of users. After investing time into a set of improvements, we are confident that our infrastructure is able to scale up and handle billions of transactions as we roll out BitTorrent Speed.
  1. Node information layer. Node information layer collects, processes and serves nodes information of the BTFS network. We have had the system built and running in staging environment and able to serve basic info for any node of the network. In Q4, we will have a basic scoring system based on node’s age, availability, reliability, CPU, memory, disk size etc, for clients to choose as optimal storage host.
  2. File information layer. File information layer provides information about each file. We have implemented some of the replication feature. In Q4, we will finish implementing reed-solomon encoding/decoding in storage replication feature, and support adding arbitrary file metadata in Merkle DAG Tree file structure to satisfy encoding/encryption needs.
  3. Incentives layer. Incentives layer consists of node scoring (with criteria such as node uptime, pricing, reputation, age, etc.), node selection, node reputation system, and replication factor (defaulted at 3x). In Q4, we will finish building the majority of the incentives layer, also finish the initial pricing model for the whole network.
  4. Fraud control layer. Fraud control layer consists of BTFSGuard, which includes Proofs (Proof of Space, Proof of Bandwidth, Proof of Replication, and Proof of Reputation) and automatic file chunk repair. We have started BTFSGuard design. In Q4, we will have an MVP of BTFSGuard with basic functions.
  5. Payment processing layer. Payment processing layer handles end-to-end BTT token payment flow. We have completed multi-host payment feature and file upload feature. In Q4, once Escrow service is completed, we will implement Escrow into the whole payment processing layer.

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