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Upfiring has big plans to change the way people think about file-sharing. By tokenizing the process, Upfiring plans to offer incentives (UFR tokens) to those who contribute their files to the network. Anyone can contribute, and thus – anyone can earn UFR tokens using the application.

The company announced that its initial coin offering (ICO) will take place on October 3rd, 2017 at 12 PM EST. During the event, Upfire tokens (UFR) will be released for the first time to contributors.

The blockchain startup plans to implement a decentralized file-sharing system that allows users to download or share files in exchange for UFR. Instead of seeding files and getting nothing in return like on traditional file-sharing platforms like uTorrent, Upfiring users will be rewarded with UFR each time a file they are seeding is downloaded.

The downloader is responsible for sending UFR (usually amounting to a couple cents per file at most) to power the transaction on the Ethereum blockchain. This means that anyone can earn cryptocurrency passively by offering their files to the network.

This is one of those projects that could be revolutionary for the blockchain space as a whole. The application looks very easy-to-use even for individuals not acquainted with cryptocurrency. It allows users to set up a wallet to store their UFR (ERC20) tokens within the app and withdraw/send their tokens elsewhere on demand.  

20% of the funds raised during the ICO will go towards continued development of the Desktop application, with another 20% going towards creating a mobile platform. The remaining 60% is set to cover bug fixes, marketing, operational expenses and legal fees.

Learn more about Upfiring: https://www.upfiring.com

Read the whitepaper: https://upfiring.com/Upfiring_Whitepaper.pdf

Follow on Twitter: @UpfiringHQ

Follow on Facebook: @Upfiring

Join the subreddit: https://www.reddit.com/r/Upfiring

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Posted by Tom Clancy