Skip to main content
Report this ad

See also:

MaidSafe unveils a decentralized Internet platform bought with bitcoin

Bitcoin Conference Held In New York City
Bitcoin Conference Held In New York City
Photo by Andrew Burton/Getty Images

Tomorrow a new fully decentralized platform on which app developers can build decentralized applications becomes available for buying into software support. The sale through MaidSafe ‘safecoins' was announced on Coin Desk today.

The currency-like tokens of safecoins and the technology for MaidSafe is synonymous with Bitcoin. Starting tomorrow, the decentralized Internet platform builder MaidSafe will hold a crowd sale of currency-like tokens called ‘safecoins’ to support its enabling software for developers.

The technology allows developers to build applications in which all data is completely secure, private, and protected from deletion. This network is following the crowd sharing platform so popular this year for business and non-profit organizations who find great success and resources in sharing. Individuals who contribute storage, computing power and bandwidth will form a world-wide autonomous system.

The MaidSafe system over seven years in development has a goal to be a peer-to-peer and decentralized Internet platform. Technology developed provides that all data is shredded, encrypted and distributed to an extensive network of computers around the world. This enables the developers to have a completely secure data safe system from which to build secure applications.

The sale tomorrow will be available for purchase of a ‘proxy token’ and called MaidSafeCoin. You can buy 17,000 safecoins for 1 BTC or bitcoin tomorrow. The bitcoin price at time of this article was $492.31. An exchange of 3,400 safecoins for 1 Mastercoin can be executed. This will raise funds for the project but the developers will ‘buy’ access to the network resources.

Anonymity and security are provided to the developer who joins the network. Cost efficiency is tantamount as Apple with a developer entry fee takes 30 percent of the app whereas the MaidSafe platform will provide infrastructure without costs and entry fee barriers. Marketing expenses and 1 percent of the developer’s revenue is paid once the app begins generating income.

MaidSafe is an acronym for “Massive Array of Internet Disks, Secure Access for Everyone” was developed to provide security from malicious Internet thieves and other invasions from private sources or governments. David Irvine, the founder of MaidSafe and CEO states, “what bitcoin is doing for decentralizing money, safecoin will do for decentralizing all Internet services, including data centers.”

The team based in Scotland was formed in 2006 with $5 million in funding. Currently there are 14 staff members. Irvine made its announcement at the Bitcoin conference in New York City earlier this month.

These opening sales of MaidSafeCoin tomorrow will continue to for 30 days or until 10 percent (429,296,729) of the total tokes are sold, whichever occurs first. Certain bonus will be given to the early buyers on a scale earning an extra 40 percent and sliding down to 10 percent per week until the close of the sale as all of the 10 percent of MaidSafeCoins are bought. The very detailed graph depicting flow of the MaidSafe process is found on its website and all information related to the sale and the process towards use can be viewed on the site.

Once the network is alive and in use, there can still be an opportunity to gain safecoins through what is known as ‘proof of source’ which is contributing one’s own computers; resources to act as a node on the network. Once you are part of the network and others can jump from node to node on the network, if you use fewer resources than the amount contributed, the extra safecoins are provided to you, the developer. This joining of forces will achieve the goal of decentralizing the Internet and span the globe with this voluntary commitment of users.

Report this ad