What is Maidsafecoin (MAID) in simple words?

What is cryptocurrency Maidsafecoin

Maidsafecoin (MAID) is a decentralized application development platform based on the Bitcoin Blockchain, using the proof of resources protocol, or the evidence of a resource. The Maidsafecoin network forms separate personal computers located all over the world, which provide storage space for network files and computational power for the operation of the Maidsafe network.

Within the Maidsafe network, there are “money” units that are paid to network members for the provision of their resources. They are called Safecoin. The number of accrued Safecoin depends on different factors: the CPU capacity, the provided memory and the time spent on the network. Safecoin coins are intended exclusively for use within the network, namely for the purchase of Maidsafe services, such as disk space, etc.

History of creation of Maidsafecoin (MAID)

The Maidsafecoin platform was created by British David Irwin, it was developed for about 10 years, and the launch of the official alpha version occurred only 3 years ago. The first confirmed online transaction was dated April 22, 2014. The main purpose of creating a network Maidsafecoin, is to create a decentralized internet, without using a centralized server, which can be attacked by hackers.

The name of the network is also created not just because the word safe, which is the root of the title, is decrypted as Secure Access for Everyone – safe for everyone. The information stored in the Maidsafe network can be static, dynamic, graphic in general, without any difference, it will still be encrypted with the digital signature of the client, which can only be decrypted by the user.

Technical characteristics of cryptocurrency Maidsafecoin (MAID)

Official Site – Maidsafe.net

Year of foundation – 2014

Protection Method – Proof of Resources

Trade name – MAID

Capitalization – $177 000 000

Cost of MAID – $0.38

Maximum emission – 4.3 billion MAID

Features of Maidsafecoin Network

The main feature of the network Maidsafecoin is the system on which it is built Peer2peer, which was developed since 2006, even before the advent of cryptocurrency Bitcoin. The main advantages of Maidsafecoin are instant transactions, no transaction fees.

The Maidsafecoin network can be used to create various applications, examples of which are provided in the list below:

– creation of mail;

– watching movies;

– cloud storage of data;

– social networks, etc.

All members of the network can be divided into two categories: builders and farmers, more about each of them read below.

Builders are members of the Maidsafecoin network that earn Safecoin coins for using the applications created within the network. Remuneration of Maidsafe builders are determined by participants.

Farmers are members of the Maidsafecoin network that lease part of their Maidsafe network equipment that will be used to store user data.

Conclusion

Let’s sum up, in “face” Maidsafecoin we have a fully protected and anonymous platform for data storage and application development. The peak of popularity of the project Maidsafecoin fell in September, 2017 when its capitalization exceeded the current in 2 times, and the cost of one coin MAID was equal to 80 cents. If we failed to reveal the essence of this project, read the article about Siakoin, they are very similar to each other. On this all dear friends, if you want to know more information about Maidsafecoin write about it in the comments.