Upfiring is a fully decentralized application built to allow users to share files and earn UFR tokens while at it. The files can be anything, from music, to torrents to pdfs and many more. Its concept is really simple.
You just need to share your file to the network, which is then encrypted for security purposes, and another user downloads it by sending a few UFR tokens to you. The worth of the files could be worth anywhere from $0.01 to $0.10, depending on the actual size of the file.
Upfiring ICO A Success
Upfiring embarked on its token generation event on October 3rd, 2017 at 12:00 PM EAST, which run through October 31st, 2017 at 11:59 AM EST. Investors who participated during the crowdsale received their UFR (ERC20-complaint Upfire tokens) directly to their Ethereum wallet.
The reception of Upfiring was amazing, judging from the number of tokens that the company managed to sell. The limit was 1,000,000,000 UFR tokens, but the company claims that the ICO was a success, having generated a cool 13,275,270.1382 amounting to 844.01973 ETH. The rate for 1 UFR was $0.02.
The UFR tokens can be used in a number of ways, including on the Upfiring network and trading on major exchanges for cash or other cryptocurrencies. The release of the tokens to the public is expected to support the development efforts of the platform, making the idea a reality.
Upfiring Connects Users Across All regions
Being a mobile and web based application, Upfiring easily connects users from different parts of the world. The platform works by creating a decentralized autonomous network, connecting a wide range of devices. The app doesn’t cost a dime to download, and anyone can install it in their device and exchange their files with other users, earning some tokens.
The UFR tokens will power and drive the network, allowing people to fuel transactions, even for the large, multi-GB downloads. Upfiring expects that prosperous file sharing and a larger network are guaranteed thanks to the compensation offered for every seed.
To enable ultra-fast distribution and transfer of files from one user to another, Upfiring makes use of a cryptographic hash, a unique identifier that’s attached to each file. All transactions are conducted via a smart contract, meaning that anyone is guaranteed to compensation by seeding files. And because UFR will soon be traded with other currencies such as Ethereum and Bitcoin, users will be able to increase their crypto stack.
Future of Upfiring
Being one-of-its-kind in the file sharing space, there’s no doubt that the platform looks promising. The application resembles p2p file sharing applications that are not blockchain based in that it lets users download and seed, but the technological advances give it an advantage over the competitors. The blockchain technology powers Upfiring allowing it to have a decentralized network to fuel transactions. The deal is even made better by the fact that users can earn UFR tokens when they seed, depending on the size of the file. In other words, it offers a win-win situation for users