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MaidSafe – Detailed Review
Maidsafe is creating the SAFE (Secure Access for Everyone) network, a new generation of decentralized Internet. Instead of replying on centralized servers, participants act as Internet hosts by sharing their unused computing resources in the network.
The SAFE network does not run on blockchain. Users of SAFE share resources such as data storage space, processing power, and Internet connectivity. In this new SAFE Internet, there are no centralized servers or data hosts. Every participant is both a user and a host.
How Does the SAFE token work?
The coin can be considered the gas of the SAFE network. It is the currency of value that is traded between participants in exchange for resources. This is similar to how Ether is used to pay for transactions in the Ethereum network. When users log on to SAFE, they need to pay in tokens to use the network.
What Seperetes Maidsafe?
In short, its mining. SAFE network’s mining protocol is unlike Proof-of-Work or Proof-of-Stake: it is called Proof-of-Resource. This method was derived from Bitcoin’s PoW system, where SAFE network data is stored on user’s computers. When a user mines a reward, the network tries to retrieve this data. If the user deleted this piece of data, then the reward is forfeited, thus incentivizing users to retain the data on their computers at all times. This algorithm is designed to save massive amounts of electricity compared to Bitcoin’s Proof-of-Work.
Finally, If you have concluded that this is the coin for you, congratulations! Buy SAFE here.