There are a lot of ways to share files. You can email them. You can upload them to services like Flickr or YouTube. You can use software like FolderShare (recently acquired by Microsoft). But if AllPeers turns out to be more than just vaporware, it could not only revolutionize the way people share pictures and videos, it could motivate the next big surge of Internet Explorer-to-Firefox conversions.

According to its website—which has been the source of considerable buzz in the blogosphere over the last few days—the extension will use peer-to-peer technology to allow you to share selected files with people you choose using nothing more than your browser. The Oxford, UK-based company insists there is no security risk; the company plans to make money by introducing fee-based add-on services to enhance the free extension.

The extension—for which no release date beyond “soon” has been announced—looks like it uses a kind of buddy list, based on screen shots available on its site. A fly-out panel will let you select files for sharing and add “peers” (i.e., buddies) with whom you want to share them. From the website FAQ:

With AllPeers, you just drag-and-drop your files right into the program. They’re available for sharing instantly! Then decide exactly who you want to share which files with. No uploading, no waiting. Want to browse your existing library? Click on an album and you see the thumbnails immediately. And since your files are stored directly on your computer, it’s all completely free.

The site includes a blog authored by Chief Technology Officer Matthew Gertner.