bitcoin-blog

To Whom It May Concern

We are happy to announce that BitcoinFile (hereafter referred to as BIFI) has reached a strategic cooperation with Beijing Baofeng Nova Technology Co., Ltd. (hereinafter referred to as Baofeng Nova) to jointly promote the continuous development of the BIFI network.

Baofeng Nova is a subsidiary of Beijing Baofeng Group, focusing on the blockchain, large-size file distribution network, commercial and home video services, which has a wealth of experience and technical precipitation in large-scale, high concurrent access distributed file system. Baofeng Group is a public company listed on the Shenzhen Stock Exchange in China and it owns a series of businesses including online video service, VR glasses(mojing), online sports program service and Internet TV with over 300 million users worldwide.

The following is a brief introduction of possible impacts to the mutual cooperation between BIFI and Baofeng Nova.

lImpact on technology

The total number of peer-to-peer software nodes of Baofeng Group exceeds 500 million and the total daily network throughput exceeds 500,000 Tb, making it one of the largest and most advanced commercial P2P network in the world due to China's huge population and excellent network infrastructures. Therefore, Baofeng Nova’s experience and technology precipitation on large-scale and high concurrent access distributed file system will bring BIFI community excellent technical value. Meanwhile the two sides have reached a consensus that all technical supports are all free and will be released with the BIFI community open source.

lImpact on marketing

Baofeng Group has more than 300 million users in China and is one of the most influential Internet brands in China. Baofeng Nova will use its own channel resources to help the BIFI community promote in China and around the world

lImpact on computation capacity

BIFI main network is expected to be online in Q1 2018, when the Bokocloud service of Baofeng Nova will deploy more than 30,000 computation nodes all around the world. In the early days of BIFI network development, Bokocloud could provide a large amount of basic network bandwidth and storage space to the BIFI main network and support the BIFI network to provide continuous and stable service.

lImpact on service

As a Chinese company, all the business of Baofeng Nova must comply with Chinese laws and national conditions, which is the biggest problem encountered during the negotiation between BIFI and Bokocloud. The agreement reached by the two parties finally reached the following consensus.

  1. Bokocloud network will be divided into two regions to provide differentiated support for the BIFI network, respectively, all countries in the world except Mainland China and Mainland China.
  2. Bokocloud will deploy all nodes under the official BIFI open source code in compliance with local laws and policies to ensure that the BIFI network is absolutely decentralized around the world except in Mainland China
  3. In mainland China, the Bokocloud service will only support the deployment of an special open-source version of BIFI that is modified by Baofeng Nova. The modification currently includes only two capabilities - the ability to recognize the contents of a file based on file name or file HASH, and the ability to delete the specified files at Bokocloud's full nodes. We understand these changes to Baofeng Nova which is a company providing services in Mainland China. This special open-source version of BIFI will only be used to deploy in Bokocloud in Mainland China, will not affect the nodes Bokocloud deployed in other countries and individuals except Mainland China

The BitcoinFile community upholds the core principles of open source and decentralization and looks forward to collaborating with colleagues who want to create the next generation of global file network systems. BIFI is currently supported by several exchanges such as gate.io, huobi.pro, chaoex.com, allcoin.com and bcex.ca which will provide trading services.

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