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What is MaidSafe

What is MaidSafe

MaidSafe is a blockchain project, based on the open source Bitcoin code. The main idea of the project is to create a fully decentralized network. In this network called SAFE all users can create applications, store data and send or receive money securely and in a decentralized way. It was originally presented in 2014 and nowadays has one of the strongest development team in the blockchain world.

MaidSafe has its own crypto currency called MaidSafeCoin (MAID). This token is utilized in the network to use all the features of the SAFE network. This coin is a resource and a kind of asset used to get finances to develop the fully decentralized network.

Advantages of using MAID

Proof of resources

MaidSafe network uses the proof-of-resources algorithm. It is very similar to the proof-of-work used in many others projects. This algorithm means that every user can share the resources of his computer with the network to process. SAFE network can use CPU resources for operation processing and hard drive capacity for network application launching. The number of the computers connected to this network is growing and there is no doubt that this network can launch more applications in the future.

Client’s applications

Developers can create and launch network-based applications using the MaidSafe network. The possibilities of the network are huge. There can be developed applications for almost any type of network activity: cloud storages, encrypted key-savers, office applications for working with documents, special applications for electronic signings of the business documentation and any other activity the developer could imagine. Any data of this applications will be automatically cryptographically secured.

Products licenses

MaidSafe network is decentralized and does not belong to anybody special. It belongs to all its participants. But still, MaidSafe network can encourage you to earn some money. If you are a developer, you can create a license agreement for your application and sell it. Instead of 30% commission of App Store from Apple, for example, MaidSafe network takes only 1% from the revenue of the developer. This money is later used for further MaidSafe development and optimization. And 1% is a much smaller percent for developers than in other application marketplaces.

MaidSafe definitions

Cryptoasset

MaidSafe network has its own currency, called Safecoin. This coin is a crypto asset by the all means. It is secured by the blockchain technology and can be bought and sold as an asset.

Exchange

Every crypto asset should be traded for. For this needs, there were created special platforms called Exchanges. There are a lot of exchanges, popular in crypto community, but there are also aggregators like BestRate.org to give you the opportunity to buy, sold and exchange any coins to other directly, comparing different rates.

Node

Node is a computer, connected to the network and confirming transactions.

Market cap

SafeCoin has its price in USD or EUR, so we can calculate the full network capitalisation for MaidSafe. This will be the price for 1 safecoin, multiplied by the total number of coins now.

Safecoin investment strategy

Safecoin is still in development, but you can already buy some coins to add them to your investment portfolio. The project has a great potential and we believe that the price of the coin will be growing through the time. So the beginning investor can purchase some coins, store them on the wallet and wait a bit for them to grow in price.

Where to keep SafeCoin

Safecoins are based on the Bitcoin blockchain and can be stored on the same addresses of the wallets that you use to store BTC.

How to transfer Safecoin securely

Safecoin or Maidsafecoin is a cryptotoket of the project. It means that there will be no any third party member in the transaction, like bank, for example, to prove your transaction and to return you money if something go wrong. So there are some tips for you to not get upset:

Never type a wallet address manually

Always use only copy-paste operation to enter a wallet address. Any mistake can cause an error and let your money get lost in the network.

Look up the transaction fee

Any good wallet or an exchange platform will show you the transaction fee for your money transfer. Look for it anytime you send Maidsafe coins to anyone.

Double check the address

Make sure that the address of the recipient is correct and check it several times before sending off the sum, especially if you transfer big amounts of Maidsafe coins at a time.

Test before sending

Anytime you send huge amount of Maidsafecoins check the whole procedure on a small amount. When you will be sure that your partner has received the money, do the same thing with the rest of the asset.