Review on MaidSafeCoin by Fabrizio Zampieri
Safecoin will serve as the currency for the SAFE network, a network made up of…
Safecoin will serve as the currency for the SAFE network, a network made up of the extra hard disk space, processing power, and data connectivity of its users.
MaidSafe might seem like a strange name at first. But it actually stands for Massive Array of Internet Disks, Secure Access for Everyone.
MaidSafe, a Scotland based company, started developing the SAFE network in 2006. The presale on April 22nd, 2014 sold 10% of all MaidSafeCoins. You could buy 17,000 MaidSafeCoins for 1 BTC at that time. The company allowed 30 days to try and reach their 8 million dollar fundraising goal, but they reached the target in just 5 hours. When the SAFE network is fully operational, you will be able to exchange the MaidSafeCoins for Safecoins.
There will be two main users of the network: clients and farmers. The client accesses the various features of the network, such as browsing, storing data, or transferring money. The farmers store and look after your data until it’s needed, at which point they might receive a reward for their efforts.
Pros
- The SAFE network gives the power of the internet back to the people, paying for it not with personal data, but with Safecoin. MaidSafe aims to provide the following features: - fully encrypted data storage and file sharing; - ability to use the network anonymously; - censorship resistant communication; - serverless data; - scalable cryptocurrency free from transaction fees.
Cons
- Project is a first stages so there is still a lot of work to do. There is currently no dedicated wallet at this time. Leaving MaidSafeCoins, or any coin, on an exchange is not recommended. However, you can use the web wallet Omniwallet. It’s also possible to use Omnicore, an offline wallet, but it requires you to download the entire Bitcoin blockchain. Current token's quotation is understimated.
