Review on MaidSafeCoin by Robiul Islam
Having been in development for three years prior to the launch of Bitcoin…
Having been in development for three years prior to the launch of Bitcoin, there’s been a lot of thought and effort put into the SAFE network. It is an extremely ambitious project, with a great deal of community engagement and support. This is all encouraging, but it does look as if it could be some time before the SAFE network is ready to go live. Afterall, it’s been 12 years already and so far the network is only in stage 2 alpha testing, with a limited number of applications available.
Still, it seems to be a very solid project, and if it takes another decade to be completed that might not be so bad if it actually does deliver on the promise of replacing the currently centralized internet with one that is free, secure and private. I’ll be keeping an eye on the SAFE network and the developments of the MAID coin as it seems to be one of the better decentralized network projects in development.
Pros
- The MaidSafeCoin is actually an interim coin being used on the alpha version of the SAFE (Secure Access for Everyone) network. Eventually the MaidSafeCoin will be exchanged for SafeCoins, once the SAFE network is out of alpha and beta. The goal of the SAFE network is to give a safe and improved internet experience free from the centralization that comes with the internet being dominated by a handful of companies. By creating a decentralized internet architecture the SAFE network hopes to eliminate the need for human involvement with private data. Eventually the SAFE network hopes to provide its service free of charge for everyone, and improve security, freedom and privacy.
Cons
- MaidSafe conducted a crowdsale in 2014 with the intention of raising $7 million in 30 days. Instead it took them 4 hours, making it one of the most successful crowdsales of the time. During the sale they sold just 10% of the total coin supply, but unfortunately much of the money they raised was in Mastercoin, which is a cryptocurrency that has few traders and is quite illiquid. The company raised an additional $1.7 million in Bitcoin and cash in 2016.
