For perspective on what that all *means*:

If you were to travel to the Centauri system (~4 ly away) at a velocity of 0.85C, the trip would take just over 4.7 years. Because of the time dilation (which is actually 1.7, not quite 2), it would seem from your perspective that the trip took a bit over 2.76 years.

In order to preserve the speed of light in your own local reference frame, it would also appear from your perspective that the spacetime you passed by was compressed by the exact same amount as the time dilation factor (so it would seem like you had only traversed ~2.35 ly in that 2.75 years, giving a velocity of 0.85C).