This year we’ve seen the launch of many ICO’s, with the majority just being blatant scams or just down right useless.
That said every so often a project comes along that not only only has a genuine purpose but also thrives in a blockchain environment. This week that project is Upfiring, a blockchain company aiming to revolutionise the P2P file sharing industry as we know it.
Utilising the Ethereum Blockchain, Upfiring has created a decentralised autonomous P2P network that allows anyone to easily share files regardless of if they are on a desktop computer or smartphone.
File-sharing is currently seen as an unrewarding process for both seeders (due to little to no return for sharing) and frustrating for downloaders (due to the lack of seeders and slow speeds).
Upfiring has a solution to address this. The company has developed technology which solves many of the current problems we see today with P2P file sharing such as seeding, searching, downloading, ratings, and peer evaluation.
In layman’s terms the Upfiring process is as follows:
A seeder shares a file through the Upfiring network
The file is encrypted by the platform
A downloader requests access to the seeded file but can only download once they have paid using the currency of the network which is UFR tokens.
Once downloaded and paid for in full the file can be decrypted.
The above is a seamless process that requires no technical; knowhow on the user’s part. Given that UFR is also a tradable currency allows both seeders and downloaders to utilise exchanges to buy and sell the tokens as and when required.
Despite file sharing existing since the early days of the internet recent statistics show that the industry has continually grown over fifty percent since 2008. With no sign of this slowing down the industry has long been overdue a technology overhaul to speed up and improve efficiency.
Some of the Issues with current file sharing platforms:
Lack of seeders
No benefit to seeders
Risk for seeders
Snooping/ privacy concerns
Massive disparity between file download and availability ratio.
Benefits of incentivised file sharing:
Seeders are compensated (resulting in more high quality seeds)
Larger variety of seeds
Seeds can be rated more effectively
Faster access and downloads
A self sufficient system that settles payment publicly
Upfiring is currently running an initial crowd offering where anyone can invest in the technology in exchange for Upfiring tokens. You can find out more about the project and support it at: https://upfiring.com/
Their whitepaper can be accessed here: https://upfiring.com/Upfiring_Whitepaper.pdf