Upfiring price is $0.01285153
The current price of Upfiring (UFR) is $ 0.01285153. It has increased by +0.00% in the last 24 hours. Keep in mind that cryptocurrency prices can be extremely volatile, so this value may have greatly changed by the time you check it.
Upfiring (UFR) is a decentralized, peer-to-peer file sharing application that operates on the Ethereum blockchain. This platform incentivizes file-sharing between users' devices across the web, iOS, and Android. It aims to disrupt traditional file-sharing methodologies by promoting a decentralized and autonomous network. Similar to torrenting, Upfiring allows users to share files directly without the need for a central server or authority.
The team behind Upfiring hasn't made their identities publicly known as of yet. The project's development seems to be driven by a team of anonymous developers, which is not uncommon in the cryptocurrency space. The team appears to be dedicated to creating a more decentralized Internet through their innovative solutions in peer-to-peer file sharing.
Upfiring works by establishing a direct peer-to-peer network connection between users—anyone can become a "seeder", i.e., a user who shares files. Unlike traditional file-sharing platforms, seeders are incentivized to share files through UFR tokens.
When a file is uploaded onto the Upfiring network, it is encrypted and a price in UFR tokens is set for that file. Then, the file becomes available to download for other users. Upon download, the appropriate UFR tokens are transferred from the downloader to the seeder as a "reward". The more files a user seeds, the more potential they have to earn UFR tokens.
What differentiates Upfiring from traditional torrenting platforms is the automatic economic incentive for seeders through its token, UFR. This makes it economically advantageous for users to continue seeding and supporting the network even after they've finished downloading their own files.
Upfiring also claims to provide a higher level of privacy and security for users than traditional file-sharing. Files shared on the platform are encrypted, which protects sensitive information from interception.
Finally, the Upfiring application is designed to be user-friendly and can be used on web, Android, or iOS, making it easily accessible to a wide user base.
The most direct way of gauging UFR’s performance is by observing its market capitalization and its price. The market capitalization for UFR ranks at #2518, with a total of $ 0.3M. Its 24-hour trading volume is 14.1.
Also, looking at the circulating supply of UFR ({ {circulatingSupply}} out of a total supply of 815.0M) is a good way to understand its scarcity and potential future value.
Upfiring (UFR) can be purchased on the following cryptocurrency exchanges: YoBit. Always ensure you do your own research before purchasing any cryptocurrency, and store your assets in a secure wallet to maintain their safety.
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