SAFE NETWORK AND SAFE COIN

What is the SAFE Network?

The SAFE also known as (Secure Access For Everyone) Network is a new secure way to access apps that put the security of your data above all else. Downloading the free SAFE software will provide access to: messaging, apps, email, social networks, data storage, video conferencing, and much more.

Rather than using data centers and servers which are prone to data theft and surveillance, as is common on today's Internet, the SAFE Network uses advanced peer-to-peer technology that joins together the spare computing capacity of all SAFE users, creating a global network.

The SAFE Network is made up of the unused hard drive space, processing power and data connection of its users. It offers a level of security and privacy not currently available on the existing Internet and turns the tables on companies, putting users in control of their data, rather than trusting it to organizations.

By providing your unused computing resources to SAFE, you will be paid in a network token called SAFECOIN.

SAFECOIN

Safecoin is a digital token. It can be thought of as the oil in the engine of the SAFE Network, a built in way of ensuring that all users of the network are compensated for the value they provide. Just like BITCOIN and ETHERIUM, SAFECOIN is a cryptocurrency.

Safecoins are distributed entirely by the algorithms within the SAFE Network. Human beings are not involved in the process. Only 4.3 billion coins will ever be in circulation at one time and each will have its own unique identity. SAFECOINS will be recycled when users exchange them for network services, ensuring there is always a supply for users to earn.

Safecoins are given as an incentive to users for providing their resource to the network. This resource is their: storage space, CPU, bandwidth and online time that enable the encrypted chunks of network data to be stored and retrieved from their computer. The process of providing resource and receiving safecoin in return is called ‘Farming’. Each piece of encrypted network data is stored in a Farmer's ‘Vault’, a data storage and management location on the Farmer's computer which they cannot read, or access. The SAFE network is designed to self-manage these resources.

As network data is retrieved from a computer, the network pays safecoin to the user. This payment doesn’t take place every time data is retrieved, instead, it is more like a lottery, where the Farmer is rewarded at random. The safecoin is automatically paid by the network into the user’s safecoin wallet address that is tied (cryptographically) to their vault. The amount of safecoin a user can earn is directly linked to how many resources they provide to the network and how often their computer is available to the network (turned on).

Safecoins can be used to access and use network applications, with part of the ‘payment’ going directly to the application developer. Safecoins can also be bought by users unwilling, or unable to provide a resource to the network. This creates a market of buyers and sellers so that farmers can sell the coins they earn for another currency. These transactions will take place on an exchange, another SAFE Network application, or directly between individuals.

What gives safecoin value?

Safecoin's value will lie in its utility and its ability to access and utilise services on the network, such as storing data, or making VoIP calls. Additionally, safecoin provides a cryptographically secure and near instant method of value exchange, facilitating micro transactions without transaction fees. It is important to note that this is value backed by the value of securing User data and communications.

How is safecoin valued?

The value of safecoin will be set by the market--i.e., the demand to acquire safecoin versus the demand to acquire other things in exchange for it (e.g., other currency, products, services, etc.). At the moment Safecoin is valued at $0.461929. Safecoin will need to be acquired by those Users looking to utilise services on the network other than just viewing data, which is free. Such services which will acquire safecoin will be distributed data storage and communications initially, though other services will be available as the network matures, such as distributed computing. Those who choose to participate in the network as Farmers should earn more than enough safecoin to accommodate their needs as Users. For those who have larger needs or who cannot/choose not to contribute to the network as Farmers, safecoin will be sold by those Farmers looking to exchange the excess safecoin they have earned. This will be accomplished by various exchange options. It is worth noting that the generation and distribution of safecoin will be entirely network-led, meaning that if the SAFE Network is in great demand a large volume of safecoins will be created, while low demand will lead to minimal coins being generated. These factors will also have an impact on price.

How does SAFE Network work?

When one wishes to participate in the SAFE Network as an End User, one will download and install the SAFE Network Client on their computer or another device. If one also wished to participate as a Farmer by contributing computer resources and earning safecoins, one will also install the full Vault software and configure it using the SAFE Client.

The SAFE Network alpha 1 is now available for immediate use on Windows, Mac and Linux! The ability for users to run their own Vaults is currently in testing.

Who owns the SAFE Network?

No one. The network is open source and MaidSafe set out to create a resource that can be used by everyone to spread all human knowledge and to facilitate sharing between everyone on the planet, regardless of your country of residence, culture, or economic background.

SAFE Network  VS  MaidSafe

Safe Network is the technology while Maidsafe is a company.  SAFE Network an open-source, decentralized data storage and communication platform. MaidSafe is a company based in Troon, Scotland. They have been working on designing and implementing the SAFE Network since 2006. MaidSafe initially raised $5 million USD in investments from local individuals, friends and family to make the SAFE Network a reality. In April 2014, MaidSafe announced a 30 day crowdsale for safecoin, the underlying cryptocurrency of the SAFE Network. The goal of the crowdsale was to raise $7 million USD by pre-selling 429,496,729 safecoins via an intermediary coin called MaidSafeCoin. Although the crowdsale didn't go as planned, MaidSafe is still in a good position to deliver a feature complete network. It's worth noting that the network will be released in iterations as opposed to a single launch event.

What do I think about Safe Network and Safecoin?

I already talked about the general overview of Safe Network and Safe Coin but let me discuss more about what I think of safe network. Safe Network is a great platform because it is safe and very secure, meaning no human is involved. You can make one on one transactions inside the network without anyone taking a peak or tracing the transactions. So, if you want to open up a “shop” on the SAFE Network, you can use a future application to do just that. Maybe it will be free or maybe, you’ll have to pay somebody some SafeCoin to use their “network-shop-building” software, I don’t know. Maybe someone will charge people at first and then, someone else will come along and do it for free for reasons known only to him or her!

The concept for some kind of currency to allow participants to exchange resources was part of the Safe Network thinking from early on, but the whole purpose of it has always been to further the objectives of the SafeNetwork as a whole: Privacy, Security and Freedom for all users. The external currency aspect is a bonus which just happens to align perfectly with the overall purposes of the network.

Safecoin might be way behind Bitcoin in value for now but because of the different features of Safe Network, Safecoin is slowly but surely creeping up the cryptocurrency ladder. A lot of people focus on the value of cryptocurrencies, looking at the trends if it going up or down but disregarding the network or community which is helping to distribute and create the cryptocurrency.

As for me, I think Safecoin will have a share of the cryptocurrency limelight in the future. Just like Bitcoin, it started at the lowest possible value but look at it now. It's at the top of the cryptocurrency food chain. So we should all watch out for Safecoin and Safe Network in the years to come.