MaidSafeCoin (MAID) is a cryptocurrency that is focused on autonomous data. MaidSafeCoin (MAID) is a proxy token that was released during MaidSafe's crowd sale and will be swapped for Safecoin on a 1:1 basis when Safecoin is released. MaidSafeCoin is a token that is listed on the Bitcoin blockchain. MAID coins can be purchased on a number of exchanges, such as Poloniex, HitBTC, Cryptopia, OpenLedger.
Maidsafe proposes a secure mechanism for network access control that is bundled with the safe Browser. As MaidSafe moves along the roadmap and releases new features for the SAFE network, we see an overall increase in the value of the MaidSafeCoin. When the Safecoins become operational on the SAFE network, it’s possible you might see an increased demand for the MaidSafeCoin.
MaidSafeCoin was created by David Irwin more than four years ago. The first verified transaction involving this cryptocurrency was made on April 22, 2014. Today, MaidSafeCoin is one of the largest cryptocurrencies in terms of market capitalization. Although MaidSafeCoin supports its currency, The company is still mainly working on creating its own blockchain that will help find other currency applications.
MaidSafeCoin uses the algorithm Proof-of-Resource (similar to Proof-of-work). The company is on its way to receiving an award for the use of computing power in maintaining the Internet infrastructure. The purpose of MaidSafeCoin is to create a decentralized Internet called “SAFE network” by using idle computing power to perform routine tasks of Internet servers (e.g. httpd, ssh, scp, ftp, smtp, pop3, imap, etc.).
SAFE Network uses Safecoin as a credit system, and interacts with so-called Farmers and Builders. Farmers use a MaidSafe client to ensure the operation of the node network SAFE, which in return receive saflini. Builders play the role of open source software developers, they create applications for the SAFE network, for which they also receive safecoin as a salary.
MaidSafe is an interesting distributed data transfer and storage system. MaidSafe is registered in Scotland and develops its project with the support of sponsors.
- Official site: https://www.maidsafe.net
- Year of Foundation: 2014
- Protection method: Proof-of-Resources
- Token name: MAID
- Emission: 4.3 billion MAID
There is currently no dedicated wallet at this time. Leaving MaidSafeCoins, or any coin, on an exchange is not recommended. However, you can use the web wallet OmniWallet. It’s also possible to use Omnicore, an offline wallet, but it requires you to download the entire Bitcoin blockchain.
Unlike the usual crypto mining, MaidSafeCoin mining has two types of users: the farmers and the builders. Both of these are needed to secure the network and make sure that all transactions are verified.
The farmers are the ones who run nodes for the SAFE network. Farmers are important because they are the ones in charge of giving resources to the network and is essential in producing more coins. The farmers need to fix the proof of resource model released by the network. After that, the farmer will place the data on the farmer’s vault. Then, for each data that the network gets from the vault, the more rewards a certain farmer receives.
On the other hand, the builders are in charge of developing the application that the system needs. The network will accept this application and use it to store data, then the builder will receive the reward. You might think that these two are doing a simple job, but being a farmer and a builder is difficult.
MaidSafeCoin Price (MAID)
MaidSafeCoin Market Cap on 10 JULY 2018: $160,319,860 USD
The MAID Price on 10 JULY 2018: $0.354257 USD
See Also on BitcoinWiki
- Official website
- MaidSafeCoin Twitter
- MaidSafe Coin BitcoinTalk
- MaidSafeCoin price and market state on Coin360
- https://coincentral.com/2018/02/07/what-is-maidsafecoin-beginners-guide/ What is MaidSafeCoins? – Beginner's Guide