Crypto Spotlight: Upfiring (UFR)

in cryptocurrency •  7 months ago

Here at Coin Stats we are always on the lookout for promising small cap projects that we think have a potentially bright future. One such low cap gem is highlighted in this second edition of our featured coins series, Crypto Spotlight.

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According to network traffic analysis company Sandvine, after removing Netflix and YouTube from the data, BitTorrent traffic accounts for over 5% of all remaining traffic. Upfiring, is the only project in the crypto space currently trying to address that market demographic. There are other projects addressing the cloud storage space which are more often used to share files amongst collaborating teams and with clients. While those offerings aim to be a decentralized solution on equal footing with the Dropbox’s and OneDrives of the world, this is the first project directly targeting the demographic that utilizes public P2P file sharing.

Upfiring seeks to incentivize users who make files available to others as a “seeder” in decentralized data distribution. Instead of just goodwill and idealism as the main drivers motivating seeders to share files with the general public, Upfiring’s innovative platform will now reward seeders with tokens which can be spent and converted to other cryptoassets.

The project had its ICO in November, releasing an ERC 20 token on the ethereum network. The team is anonymous due to the nature of the market sector they are addressing, but so far have been able to deliver on their roadmap milestones and seem fully capable of realizing their vision. They have recently released two sneak peak previews of their upcoming application release, a fully functional version that will use a BitTorrent protocol with the UFR token reward system built in.

UFR Data:

  • Current Market cap: ~$4.4 Million
  • ICO Price: $0.02 USD
  • Current Price: ~$0.27 USD
  • Current Exchanges: Cryptopia (99% of transaction volume)
  • Website: https://www.upfiring.com/

DISCLAIMER
The materials available in this post are for informational purposes only and not for the purpose of providing investment advice. Coinstats dos not give a research recommendation and/or price target in this material. This post may contain forward-looking statements. These statements are not guarantees of future performance. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
This post does not constitute an offer or solicitation to sell shares or securities of Upfiring tokens or any related or associated company. Coin Stats is not affiliated in any way with Upfiring.

You can also check our first Crypto Spotlight featuring Simple Token (OST)

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Wouldn’t this be shut down in a heartbeat? There is a reason that torrent sites try and remain anonymous. This seem like a project that the feds would go after and try and shut down right away.

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This has to stay anonymous like torrent sites do and thats the beauty of a blockchain that its a lot harder(almost impossible) to shut down than existing torrents sites.