Upfiring is a P2P file-sharing application that encrypts and distributes files between peers over a decentralized network. Upfiring operates similarly to other P2P file-sharing applications but with several key upgrades and inherent advantages - namely, incentivizing the file-sharing process with UFR tokens.
All transactions on the network are linked to the Ethereum blockchain via smart contracts. This allows transactions to run securely and for proof-of-transfer protocols to be carried out between peers. The movement of files across the network requires UFR. When a seeder uploads a file and seeds it on the network, they set a custom UFR requirement for that file. When a user subsequently downloads that file from the seeder, the user must fulfill the smart contract's UFR requirement in order to download the file and compensate the seeder for offering that file to the network. If a seeder sets the price too high, other users may decide to seed at a more reasonable price - creating a competitive marketplace that keeps the cost of files down. This allows uploaders to passively earn UFR by seeding and allows downloaders to access large quantities of files at an extremely low cost.
Files seeded on the Upfiring network will be encrypted so that other P2P services cannot access them without using the Upfiring Desktop application. This is to ensure that seeders are rewarded with UFR appropriately, which other services may not offer (yet!). UFR can be acquired on several cryptocurrency exchanges (see the sidebar).
What wallet should I use to store UFR?
UFR is an Ethereum-based token, and as such any wallet that supports tokens may be used. A few of the most popular include MyEtherWallet, Mist/Ethereum Wallet, and Parity. You can also store your tokens on an exchange, although this is not recommended. Our team or the community will be happy to help you get set up if you are having issues.