MAIDSAFECOIN

MAIDSAFECOINMaidSafeCoin is also known as MAID. It has a good development team, with some interesting ideas behind it, such as farming to share your computer as a distributed Dropbox or Google Drive. The coin also has a large market cap, in the top 5. MaidSafe aims to create a decentralized Internet, to be called the SAFE (Secure Access For Everyone) Network, by tapping unused computing resources to perform many of the tasks common to servers currently running the Internet (ie. httpd, ssh, scp, ftp, smtp, pop3, imap, etc.). Safecoin is to be the credit system used by the SAFE Network. It will be issued to what they have named Farmers and Builders. Farmers are users of the MaidSafe client that will receive safecoin in exchange for running a node, committing their unused computer resources to the SAFE Network, such as storage space, CPU, and bandwidth. Builders are Open Source developers who will receive safecoin for building popular applications that utilize the SAFE Network.

Safecoin has a cap of 4.3 billion coins, of which only 10% have been released via this intermediary MaidSafeCoin. Despite only having 10% of the possible coins in circulation at this point, MaidSafeCoin hit the top 5 market cap in the cryptocurrency world! Once the SAFE Network goes into beta, MaidSafeCoins will be traded on a 1:1 basis for safecoins. Once the SAFE Network goes live, only the network will able to generate new coins, so get in on the ground floor with this new technology!

Once the SAFE Network goes live, the system will utilise a Proof of Resource (P.O.R) model to determine that it is able to use the resource that has been committed to it by Farmers. This is analogous to Bitcoin miners providing hashing power in a Proof of Work (P.O.W) model in exchange for bitcoin. Applications built by Builders will have their information built into them so the Builders will receive safecoin based on how often their applications are used. You can find out more about MaidSafeCoin at maidsafe.net

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