Upfiring just released its fully working Dapp, which you can use to seed files and earn UFR Tokens. The Token had giant gains against BTC and ETH, reaching 300% from the start of December 2018 to the end of January 2019.
With its motto “Upload, Seed, Earn”, Upfiring team built an incentivized P2P file-sharing platform, utilizing smart contracts & UFR tokens for a fully decentralized application.
As we said, Upfiring released today its fully functional Dapp, all of that just a week the BitTorrent ICO (28/02/2019), which was sold out in 18 minutes on the Binance Launchpad. The two platforms work in the same environment, the online P2P file-sharing.
So what’s the main difference between the two?
The main differences are represented by the user base, the usage of their native tokens inside the platform and the blockchain presence. The BitTorrent user base is huge, we are talking about more than 130 Million people worldwide using the software, which was born in 2001.
On the other hand, we have a much lower user base since the project is relatively new (ICO took place in 2017) and it released its Dapp just today. From that, we see almost 16 years BitTorrent had to grow its massive user base, which could absolutely happen to Upfiring platform in the next years.
The other big difference is the token usage, in BitTorrent, you can use BTT to speed up the download increasing the bandwidth, but that’s optional, you can still use BitTorrent without the use of BTT; in opposition, into Upfiring Dapp the UFR Token is mandatory, basically you have to pay for the content you download, but the price is not fixed, instead it’s decided by the seeder and it should be relatively cheap. This mechanism gives a real use case for Upfiring Token and adds more value to the whole ecosystem.
The last one is the blockchain usage in the projects, which is heavily present in Upfiring since it’s a blockchain and smart contract powered Dapp. About BitTorrent, the Blockchain integration happened just recently with the BTT Token creation on the Tron blockchain.
We have to keep in mind that a project that borns straight in the blockchain environment, building its infrastructure on it, will always have an advantage compared to projects which integrated blockchain secondarily, having their infrastructure born in a non-blockchain environment.
On the official Upfiring Twitter Channel we can see some users expressing some concerns about the token utility in BTT ecosystem.
In this tweet the argument looks pretty solid and straightforward, why should I pay for faster download if it’s already very fast and takes minutes to download heavy contents like movies or else.
In this other tweet, a user expressed another concern regarding the centralized model of BTT, emphasizing on the presence of an actual working product for Upfiring.
The only advantage of BitTorrent resides in its junction with Tron, which is a huge and very popular project, with already Dapps built on it, and the massive user base worldwide built in more than 15 years of activity.
On the other side, Upfiring is fully automated, smart contract and blockchain powered, with a working product that integrates its native token UFR representing in whole the concepts of utility token and real-world use case.
Looking at the price we stated already the roughly 300% gain against Bitcoin (BTC) and Ethereum (ETH) had since December 2018, lasted until the end of January where the token retraced keeping the gains at more or less 100% at a price of 2440 Satoshis.
The Upfiring project is in our opinion a sleeping giant, the environment it works in is massive and in constant expansion, with the spreading of technology in less developed countries and the increase in the usage of P2P content-sharing software. Millions of people around the globe share content P2P and many millions more will come by the time passing.
Overall there is room for both the projects and even more like them, that’s why we believe Upfiring will succeed in its objective and will perform well in the upcoming years.
What do you think about the two projects? Let us know below in the comment section and remember that this is not financial advice but our personal opinion about the projects and their development.
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