What is Upfiring?
Upfiring is an incentivized P2P file-sharing desktop application for Windows, MacOS, and Linux that encrypts and distributes files between peers over a decentralized network. Users earn cryptocurrency in the form of Upfiring tokens (UFR) by seeding files. The movement of UFR and files on the network is mediated by smart contracts, allowing for trustless exchanges.
The Upfiring Protocol
Users generate custom encrypted .ufr files with embedded price data and seed them on the Upfiring network, earning UFR tokens in exchange for seeding. Seeder smart contracts deployed to the Ethereum network mediate the movement of files, maintain seeder UFR balances, and allow for the decryption of files. Upfiring makes it easy for anyone in the world to share files with others - regardless of country, language or native currency.
UFR Generation & Distribution
UFR tokens were minted via our smart contract & distributed from October 3rd, 2017 to October 31st, 2017 during our Contribution Period. The Contribution Period was held in order to fairly distribute UFR to participants - no pre-sales or private offerings were held. UFR is required in order to download files within our application and incentivize seeders within the network.
UFR Token Value
UFR has no inherent value on its own and is solely meant for use within the Upfiring application in order to fulfill smart contract requirements and download files from others. UFR can be acquired from other users on cryptocurrency exchanges.
Issue with traditional P2P apps
Traditional P2P networks are flooded with users who want to download (leechers) and severely lack seeders. This occurs because seeders receive no rewards and as such, have no reason to upload files and stay connected to the network. This results in very low file availability and a weak P2P network that is extremely one-sided.
Upfiring directly addresses these underlying issues with modern-day P2P file-sharing networks by incentivizing seeders. By rewarding seeders with UFR, content-owners have a reason to share their files with others. This creates a healthy and prosperous file-sharing environment where content-owners, seeders, and downloaders can benefit from ever-increasing file availability and faster downloads.