Upfiring was launched in October 2017, making it one of the newest currencies on the market. Investors are eagerly watching the currency, since it brings the blockchain technology to a very commonplace application, file sharing. File sharing, while common across the globe, has many difficulties in its path. There are intermediaries who regulate the process, and this restricts the use of the sharing platforms. Also, there are steep fees associated with many platforms. Upfiring offers reduced fees and helps users monetize their content.
Upfiring offers a decentralized platform for sharing files between users. There are no intermediaries in the process, so potentially any kind of content can be shared. Also, the transactions are recorded on the blockchain, making them secure. Users who download the file pay a fee, in the form of Upfiring tokens, called UFR. Those who share files, therefore, can earn money through the process. Those who download files do not have to pay very high charges.
The Upfiring application can be used on the desktop or mobile devices. The transactions are controlled through Smart contracts. Thus, users who upload files are rewarded every time someone downloads the file, those who download files can access content at very low prices. The platform allows sharing of text, video, and many other types of files.
The currency circulation has been limited, and this is good news for investors. While there is no pre mining, and only minting in exchange for ethereum tokens was the initial offer, this has led to limited supply of the Upfiring tokens. This means there is no risk of devaluation of the currency. Investors can therefore use the currency for investment. Also, tokens can be earned easily. Almost anyone who has ever used the internet is familiar with the concept of file sharing. Thus, no new technical skill is required to earn money through the use of the Upfiring platform. Users can upload any kind of file. If other users like it, they will download the file and pay the user who uploaded the file. The low cost use of content is another benefit to using Upfiring. As the currency grows, it is expected that new features will be added. The decentralized network allows users to find buyers or sellers of files easily, without hindrance from the platform administrators. This enables users to reach more people, and thus monetize their files, or find the right files. The low fees and the rapid transactions are add-on features to make the Upfiring even more attractive for users.
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