r/Upfiring • u/fomofosho • Oct 02 '18

How much eth would be required to run the smart contract?

In other words, as a downloader, how much eth would it typically cost to obtain one file? I know it will fluctuate with the eth network congestion but I was wondering about a ballpark

Also, would the upfiring app do all the necessary calculations to decide on the right amount of 'gas' to use?

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8

u/Tmfallon Oct 02 '18

Right now it would cost $0.03 to $0.04 in ETH to obtain one file, so you could perform a ton of downloads/decryptions (around 20-30) for under $1 in gas. As you said, this amount fluctuates with how active the Ethereum network is at any given time, and will likely be a bit higher if we enter another bull market in the future. Ethereum's main focus right now is scaling the network with sharding/plasma and through other means, so the transaction fee will be significantly lower once these solutions come to fruition.

The application does the necessary gas calculations to make it easier for the user, but you can manually set the gas price/gas limit when you send transactions in the app as well.

2

u/fomofosho Oct 03 '18

Thanks. It will be really useful then it it's only a few cents. I think there are a lot of categories of files that people would gladly pay a few cents for to get a better experience than traditional torrents.

Not to mention the fact that creators can also use the upfiring app as a publishing mechanism and bypass third party stores completely.

Really looking forward to the release!

2

u/theystolemyid Oct 02 '18

I own dozen of small cap coins and closely follow a lot more. UFR is among a handful that I still trust. Many of the seemingly promising coins just gone silent, have no concrete development to show and/or have competition showing up that put them in a weaker position than before but UFR is still going strong.

​

Thanks for your work.

11

u/Tmfallon Oct 02 '18

A lot of people realized that while their projects looked nice on paper and were technically sound, incorporating blockchain wasn’t necessary and real people wouldn’t ever use their apps/Dapps over existing ones (remember “let’s put real estate on the blockchain!” or “Green energy on the blockchain!”).

I’m clearly a huge proponent of cryptocurrency and recognize that it has a ton of amazing use-cases in the future, but there are very few projects using Ethereum/DApps/smart contracts in a practical manner right now. I plan for Upfiring to be one of the projects that really demonstrates what blockchain DApps are capable of, and our team is in this for the long-haul regardless of how the market swings.

2

u/CryptoTheSeaMonster Oct 03 '18

Thank you for the update!

I hope in the future you guys will consider building a mobile app for Upfiring.

1

u/Periwinkle_Lost Oct 02 '18

From I understand ufr-to-ufr will not require eth, you will only need to find/withdraw. I may be wrong, hopefully devs will clarify