Upfiring - Incentivized P2P File Sharing

By Mozzie | Crypto Aficionado | 1 Sep 2020



Upload. Seed. Earn.

Upfiring is a P2P File-Sharing application (Windows, MacOS, & Linux) that encrypts and distributes files between peers over a decentralized network, in this case Ethereum (ETH).

Upfiring operates similarly to other P2P file-sharing applications but with several upgrades due to the blockchain technology behind it all. The biggest difference is the incentivized nature of it all, in traditional P2P file-sharing programs there is zero reasons to continue seeding once you have downloaded the file you wanted, with Upfiring you're paid in Upfiring tokens (UFR) for uploading, downloading/decrypting and seeding files on the Upfiring network.

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With Upfiring's 1.2.2 Release on August 24th, 2020 the dapp is ready for an ever growing userbase of dowloaders and seeders in the upcoming weeks. To celebrate Upfiring is rolling out 3 Dapp Stress Tests in the coming months. 

The stress tests will give the Upfiring team to evaluate the network's ability to support files with large numbers of seeders and properly distribute the UFR between all active seeders on the file. During the tests the Upfiring team will be rewarding UFR between the participants. 

  • Stress Test 1: 500 UFR Total — Sunday, September 20th, 2020 at 5 PM EST (5 .ufr files, each worth 100 UFR)

  • Stress Test 2: 2,000 UFR Total — Sunday, October 4th, 2020 at 5 PM EST (10 .ufr files, each worth 150-250 UFR)

  • Stress Test 3: 5,000 UFR Total — Sunday, October 18th, 2020 at 5 PM EST ( 50 .ufr files, each worth 50-150 UFR)

The .ufr files will be created by their team and distributed between their social media pages one week prior to the stress tests.

With that said to participate on the Upfiring network you will be asked to create or sign into an existing Ethereum wallet.

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Sadly, Upfiring doesnt allow for direct sharing of files within the dapp, so external file-sharing websites are critical for the success of the project, the biggest of which is ufrindex.com

ufrindex is also running a "UNLOCKING UFR" event starting from the 31st of August.

Where they will be unlocking random .ufr files that are uploaded to their website and are priced reasonably. Which means we can earn UFR by Uploading or by Seeding the files that other people upload to their website.

Thankfully the team will be reaching out to existing file-sharing websites as well to help integrate .ufr files into their sites over the coming weeks.


                                     

Seeding a UFR File and Earning UFR

Once you’ve downloaded a file in the downloads tab or uploaded your own, you automatically begin seeding the file. You can press the pause button a file to pause seeding (cease new connections) at any time. Removing the file permanently ceases all connections and removes the file completely from your application.
You will begin to earn UFR once another user downloads and then decrypts any file you are seeding (see the next section "Payments" to learn more about how UFR payouts work).

Earnings and Payout Protocol

Using Upfiring, users can earn UFR tokens by seeding files that are actively downloaded and decrypted by other users in the network. Downloading a file to seed is free, but in order to access its contents the file must be decrypted. Decrypting a file requires UFR, in an amount set by the original seeder of a file. UFR used to decrypt a file is paid out to all seeders of a file in the following manner:
If a file has one seeder - the original file uploader/seeder, that seeder receives 100% of the UFR from file decryptions.
If a file has multiple seeders, payouts are more complex. The original seeder of a file is always entitled to 50% of the UFR from download/decryptions, and will receive this payout regardless of whether or not they are online during downloading/decrypting.
All other seeders of a file split the remaining 50% of the UFR from decryption. There are two types of seeders: those who have decrypted the file themselves (paid), and those who have not (free). Paid seeders receive 3x the amount of UFR from file decryptions compared with free seeders. As a result, a file with 3 seeders - the original seeder, 1 paid, and 1 free, that costs 10 UFR, will have a payout that looks like this:
Original Seeder: 5 UFR
Paid Seeder: 3.75 UFR
Free Seeder: 1.25 UFR
As a result, if you plan to seed a file long-term, it makes sense to decrypt a file and become a paid seeder in order to continue supporting the network and maximize your earnings. As a bonus, you will also gain access to the content itself.When you earn UFR from seeding, it will credited to the smart contract section of your application. If you would like to send the UFR from the smart contract to your wallet, you can click the withdrawal button.                                            

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Mozzie
Mozzie

After getting into Cryptocurrency Mining in 2017 i've been obsessed with all things Crypto/Blockchain.


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