This section covers mechanisms of opening and closing a storage deposit in detail, as well as the basics of on-chain governance of the issuance and burning of TBY among DeNet Consensus participants.
TBY is a storage measurement of the resources used and a reward measurement for providing them in the DeNet Storage Protocol. As a storage measure, TBY can be issued by opening a deposit through the Proof-of-Storage smart contract; as a reward measure, it can be issued by sending proof of storage by the user that is providing the resources.
TBY is calculated as a volume of 1TB of used storage resources for one year. This can be either storing 1TB of information for one year or creating 1TB of traffic for downloading content from the network.