First question in mind what is maidsafecoin ? MaidSafeCoin (MAID) is a product of MaidSafe, which aims to change the way people store their data.
The company stores data, distributed in a blockchain that uses storage space and computing capacity provided by users of this network.
SAFE NETWORK
The Safe Access for Everyone (SAFE) network is a new decentralized information retention system that was created using resources that are shared by system users.
- This creates a huge decentralized network.
- Security seems to be an absolute priority for this innovative company.
- The data stored in the SAFE network is encrypted and divided into smaller parts, which are then distributed among the users of the network.
- People who store distributed data in this way have no direct access to their content and are not aware of its type or content.
At the same time, however if a user participates in the functioning of the network by providing their resources, the corresponding amount of digital Safecoin tokens will be rewarded.
MaidSafeCoin using POS
Safecoins are distributed over a network that is based on an algorithm known as Proof-of-Resource.
The “farmer” of this network is the participant who provides the system with computing power, time and storage space.
The data is stored in the memory of a farmer (called a vault), but does not yet have access to it.
Each time an authorized person has access to the data in this repository, the farmer is rewarded with a certain amount of MaidSafecoin for his participation in the process.
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MAID platform
David Irvine, CEO of MaidSafe, had already presented the concept of his platform in 2002.
However, it was not until 2006 that the business really developed.
It was an Internet project built entirely on servers, and many believed at the time that the outcome of this initiative would be simply disastrous.
Eventually, the company’s development became a decade-long effort to free users from any control.
When Apple was developing its first iPhone, MaidSafecoin had already thoroughly examined the distributed network and cryptocurrency. These technologies are currently the pillars of the cryptocurrency world.
MaidSafe has developed a series of algorithms and acquired more than 20 patents during its career.
Alpha 1 phase
The initial implementation of the platform, known as the Alpha 1 phase, managed the nodes (called nodes) using a SAFE trigger and was able to support multiple demo applications.
Alpha 2 and Alpha 3 phases
As part of the Alpha 2 and Alpha 3 development phases, a network was created to allow safer access through the SAFE browser.
During the Alpha 3 phase, the Safe Autonomous Network was developed and a new autonomous level was added to the system, which was responsible for further decentralization of the network.
At the same time, users could operate routing nodes, and the implementation of the data process generally became more secure.
Alpha 4 phase
In the Alpha 4 phase, secure autonomous data services were added to the platform. This point is to add a data layer that is secure and operated by user repositories.
This step brought a wider range of decentralized applications to the platform and made new applications available.
After this phase, the network security verification was considered successful. Safecoin cryptocurrencies saw the light of day, which led to a fundamental improvement of the system.
What are the advantages of MAID?
MaidSafecoin offers fully encrypted data storage and a decentralized file-sharing network that is extremely efficient and reliable.
Each user has the option of using the network anonymously, which further increases overall security.
In addition, MAID effectively uses a distributed network that operates in a database without a server, so users can transfer information much faster.
In addition, the scalability of the platform is greatly enhanced by the scalable cryptocurrency, which currently operates without any transaction fees, which is another undeniable benefit for network users.
What does MAID expect in the future?
In April 2014, MAID cryptocurrencies were pre sold, which account for approximately 10% of the total token volume.
At that time, I was able to buy 17,000 Safecoins for 1 Bitcoin. MaidSafe officials planned to raise $ 8 million in funding and hoped to achieve this goal in at least 30 days. However, it only took 5 hours to cross the milestone.
MaidSafecoin crypto files are approximately 32 bits in size. This implies that approximately 4.3 billion tokens can be in circulation at the same time. Cryptocurrency units are distributed through a fully automated system without human intervention, and each cryptocoin has its own identity.
In addition, Safecoins are recycled when users exchange them for network services. This means that the stock of coins that is available to users is constantly replenished.
Given the increasing data rates and increasing user requirements, it could be assumed that the available storage capacity will soon become a major problem.
However, MaidSafe offers a decentralized solution that is a great incentive to use excess platform resources through the SAFE network.
This currency is an indication of the enormous potential of this platform in the future.
Maidsafecoin Current trends
MAID digital tokens have a current value of around 0.00004875 Bitcoin.
Safecoin has aroused great public interest, mainly because it has become one of the most traded crypto in the main Poloniex exchange.
In terms of trading volume, he even defeated crypto giants, such as Ethereum or Ethereum Classic, two years ago.
When we look at Poloniex data, it is clear that the price of MAID token has literally exploded.
It was a direct response to the launch of the Alpha development phase: it was a first project that presented the promising potential of the SAFE network.
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Conclusion
How does MAID token/ Maidsafecoin differ from other cryptocurrencies ?
This platform is a company that has more than a decade or longer history than many of its competitors.
In addition, it continues to show success in areas where many competing projects have not achieved the desired results.
MAID token presents a new concept with a futuristic approach, which is also extremely attractive to new users.
It is also an excellent way for network subscribers to use their surplus funds and convert them into a source of income.
Ultimately, the competitive advantage of the MAID token lies in more efficient, faster and cheaper transactions.