About the coin

MaidSafeCoin serves as a token for Safecoin, which is the decentralized currency for the SAFE network. This network is composed of the extra hard disk space, processing power, and data connectivity of its users, creating a sharing economy for digital resources. MaidSafe, the company behind this innovation, aims to protect the world from the risks associated with centralized data storage. In the current centralized model, corporations may misuse or leak private data, as seen in incidents involving Yahoo, Equifax, and others.

Main features

The SAFE network aspires to establish a secure, autonomous, data-centric, peer-to-peer network as an alternative to the existing server-centric model. It features two main user types: clients and farmers. Clients can browse, store data, or transfer money, while farmers are responsible for storing and managing data, potentially earning rewards for their efforts. The network functions as an encrypted layer on top of the current internet, replacing three OSI networking layers to enable autonomous data storage and networking.

How it works

MaidSafe, based in Scotland, began developing the SAFE network in 2006. During a presale on April 22nd, 2014, 10% of all MaidSafeCoins were sold, with 17,000 MaidSafeCoins available for 1 BTC. The company quickly reached its 8 million dollar fundraising goal within just 5 hours. Currently, the project is in stage Alpha 2 on its roadmap. As the concept of a decentralized internet gains traction, the value of MaidSafeCoin is expected to grow, potentially disrupting the internet landscape for the better.