Top 20 Alternatives: Maidsafe (SAFE)
Highlights, summary, review and discussion of Maidsafe
Maidsafe is a company that has worked on creating a decentralized Internet since 2006. On April 2014, the company raised additional funds from a crowdsale to help develop the SAFE Network, a decentralized Internet platform. The expected benefits of the SAFE network include:
- private and secure communications and file storage
- censorship resistance
- scalable and trustless network infrastructure
- shared peer-to-peer resources
- Safecoin cryptocurrency used to create economic incentives for participants
Participants called farmers can lend their unused computing resources to earn new Safecoins while developers can earn new Safecoins (15% of the distribution) for fixing bugs and adding new features. The current supply of Safecoins issued for the crowdsale will be exchanged for Safecoins when the network becomes live. Safecoins will be required to add files into the network for storage. Currently 450 million of the 4.3 billion Safecoins have been distributed. Developers have made consistent progress developing the platform and seem to be getting closer to launching a platform for early adopters. Recently Maidsafe announced that it plans to use 24 million Safecoins, coins that were overissued as part of the crowdsale and held in the Maidsafe Foundation, as a loan to continue development.
Bottomline: Safecoin is a coin that represents the cost of data storage in its network. Because the SAFE network has broad applications, it will be important to monitor adoption and see what industries, consumers and compelling use-cases help bootstrap activity on its network.
Please respond below to add any insight or ask a question to elevate the community's understanding of Maidsafe. Here are some questions to consider:
- What are the main reasons why you invest or don't invest in SAFE?
- What projects & applications are you most excited about?
For some background on this blog series and analysis of other currencies click below:
Top 20 Alternatives: Introduction
I'm waiting for OPEN.MAID on OpenLedger
I understand the network will not work on TCP/IP, but the underlying UDP. I'm not sure what that means, but do you? What is the reason and the benefit? Will it allow to bypass some restrictions of the current internet? Will it be faster?
Here is some info I found on a good blog post about the Safe Network Architecture:
Yeah in other more general articles, TCP offers error correction and UDP offers speed.
I read it, thanks. Here is a nice paragraph for a layman like me: