Internet currency (MaidSafecoin, MAID) adopts the original core algorithm of maid, which is advanced in concept and has great practical value after completion. It was released on April 22, 2014.
MaidSafecoin is a media label written on the Bitcoin block chain. It will be exchanged with the native currency safecoin at a 1:1 ratio on a P2P network platform in the SAFE network. According to the Maidsafe.net website, it is described as: "Based on a completely decentralized platform, application developers can create decentralized applications. This network is constructed by individual users who provide storage, computing power, and bandwidth to form a global Autonomous System.” Safecoin is used to pay for decentralized Internet services at SAFE. These services are virtualized hardware that provides secure data storage and processing to run decentralized internet systems.

How to get the project

Safecoin can be obtained through transaction purchase. Users can earn Safecoin by sharing their machine resources. Developers use Safecoin as application income, and project sponsors can obtain Safecoin in advance before the network is released by purchasing (using MaidSafecoin as an intermediary). In this way, the network can get enough resources to start, and application developers can launch free applications for everyone to use. This will be a new Internet, one owned by everyone and controlled by no one - an Internet without borders.
In short, Safecoin is to incentivize developers, supporters and end users in a fair and transparent way. Users obtain Safecoin in the form of resource proof by sharing network resources; developers obtain Safecoin as income through application services; supporters focus on providing public goods to support the network and are willing to take financial risks to obtain returns on investment.

Project History

MaidSafe, based in Scotland, started developing the SAFE network in 2006. The pre-sale on April 22, 2014 sold 10% of all MaidSafeCoins. You could buy 17,000 MaidSafeCoins with one BTC at that time. The company allowed 30 days to try and hit its $8 million fundraising goal, but they reached it in just five hours. When the SAFE network is fully operational, you will be able to exchange MaidSafeCoins for Safecoins.

Project Competition

There are a few other data storage blockchain companies out there, but none exist like MaidSafeCoin. Filecoin gained notoriety after an ICO that raised $257 million. And Siacoin is currently the leader in terms of market capitalization. MaidSafeCoin is unique in that the SAFE network does not actually use a blockchain. Therefore, once the product goes live, the web currency Safecoins will not exist on the Bitcoin blockchain.

Project Supply and Sustainability

Safecoin files are 32 bits in size, so there are integer powers of 2 to 32, or 4.3 billion possible coins. If you own MaidSafeCoins, eventually you will be able to send them to unavailable addresses and get Safecoins in return.
The rate at which Safecoins are rewarded to farmers depends on the supply and demand of the network. If there are many farmers and there is too much storage available, the network will reward coins at a lower rate. If there is a shortage of storage, more coins will be rewarded to encourage more farming activities. This design aims to avoid large centralized farms opening and controlling the network. With Bitcoin, spending money on ASICs increases your hashing power and increases your block reward. With the SAFE network, adding more storage to the network will result in diminishing returns.
When people use Safecoins to upload data, these Safecoins are recycled to farmers through "Proof of Resource" rewards. In terms of sustainability, Maidsafe plans to keep all data indefinitely due to reduced CPU, bandwidth and storage costs.

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