Maidsafe, a project to create a decentralized fully functional internet, is finally within reach of its goal.
Maidsafe, is a decentralized group of hosts and end-users who together compose the SAFE network
The SAFE (Secure Access For Everyone) network is a decentralized internet which is radically resistant to censorship or regulation and is encrypted end-to-end. Hosts provide solvency to the network by dedicating some amount of drive space to a 'vault' which is used along side the other existing vaults to store encrypted SAFE network data in a decentralized way.
Image credit maidsafe website
This is vastly superior to traditional, centralized network storage for a number of reasons, the foremost being as follows:
- The hosts cannot extract meaningful information from the data in their vaults
- Redundant storage is built into the SAFE network's protocol, meaning no single host can compromise the availability of network data by going offline
These two features together make the network radically resistant to any kind of censorship or oversight, as would-be regulators have no capacity to analyze the contents of the network and respond to perceived threats or wrong-doing.
...and did I mention that hosts get PAID?
For providing their valuable resources -namely drive space - hosts are paid in a cyptotoken known as the Safecoin. Safecoins can be utilized directly within the network to transact with other members or use network applications, and more importantly, they can be sold on an exchange for other currencies such as BTC. The safe network has already generated safecoins throughout the testing phase, and they have been being listed on exchanges like Poloniex going as far back as 2014.
Today, the Maidsafe project has been in the works for about a decade, and it has just launched the much-anticipated Alpha client
With the wide-release of the network, a large group of people unable to provide network solvency themselves by becoming a host will be looking to acquire safecoins. I can hardly emphasize enough that this presents a major investment oppurtunity. In less than a single day of trading since the announcement, safecoin has gained 36%. Safecoin has even already passed storjcoin, another coin mined with hard drive space.
Here you can see the price of maidsafe in BTC on poloniex a few hours after the announcement, just underneath Storjcoin (SCJX).
This is about one hour after the first screenshot, and MAID has passed SCJX.
Maid is going to continue to rise as it gains attention, because the intrinsic value is quite high
You can't farm several thousand maidcoins in any reasonable span of time without dedicating a VERY LARGE volume of space to the project. A good friend of mine was a host on the pre-alpha of the SAFE network, and by providing the full capacity of 6 8tb HDDs or *48 terabytes of data, he earned roughly 950 coins a month. Lets do a little basic math about that. For this calculation, I'll be using the derived unit 'Terabyte-Month' which is exactly like it sounds, one month of uptime for a terabyte size data space.
950 Safecoins/48 Terabyte-Months= 19.791666 Safecoins per Terabyte-Month
So a one terabyte farming space nets the owner-operator less than 20coins in a month or about .65 coins a day. At current market valuation, one Terabyte-Month (20 coins) is only 0.004 BTC or approximately $2.35 as you can see below.
Hosting is a normally A LOT more valued than $2.35 per terabyte-month. I'm actually paying $1/month for a 50gb cloud right now which is a rate of $20.48 per terabyte-month. That's obviously an inflated rate since I'm buying less than a TB and as such get no bulk rate, but it is still demonstrative of the relatively low current valuation of MAID.
Investors agree, and maid is already exploding
MAID has already undergone a significant spike in price in the last 24hours, but it still has a LOT of room to grow, given that it is still falling far below fair market for what it is.
@desmonid Thanks for the informative post about Maidsafe
for an intesting read :-https://steemit.com/cryptocurrency/@pps/maidsafe-cryptocurrency-a-brand-new-internet
@desmonid: Thank you for posting about MaidSafe. Everyone here should be excited about MaidSafe if only because it could provide us with a way to store e.g. images and video FOREVER without cost after the initial upload in a decentralized instead of using gif hosting sites.
https://safenetforum.org/t/will-the-data-be-stored-forever/2056
@nonlinearone
Thanks for the positive response @nonlinearone!
As you may be able to tell from my initiative taken to write this article, I'm extremely excited about the SAFE network :)
Very intriguing. Where does the name come from?
I've always loved Maidsafe. Keeping an eye on all this.
This is a great post on maidsafe. It's great to see more Safe lovers on steemit :)
I've also just uploaded a post about maidsafe:https://steemit.com/maidsafe/@endaksi1/maidsafe-the-decentralised-internet-a-brief-explanation-of-what-maidsafe-is-and-how-to-acquire-store-maidsafe-coin
I'd really appreciate any feedback.
Now I'm thinking I shouldn't have sold a good chunk of my MAID for BTS a few weeks ago hahaa..
That's around when I picked up a few maid coins :p
so many good projects it's always hard to figure out where to put your money.
You're right @kareenmaudi, that's why I always recommend that anyone diversify, diversify, diversify their assets.
Yes, diversifying is definitely a really good idea! But sometimes this could end up diworsifying as they call it, in the case most or all of your assets do bad.
You see, diversification is still a really universally good tip in my mind, but it requires a little thought still. Diversification is like cruise control; it will get you moving but you still have to steer.
Hmm, I have a 96tb storage server (plus about 20TB of random NAS/USB drives) just sitting around doing nothing....might be worth getting on board with this. I was waiting for storj to get up and running fully for getting it online, but with a potential return of about $200USD/month with MAID, might be worth getting online sooner
You are exactly who the maid network really needs right now....and you can always hold your SAFE coins until they grow a bit more in value :p
how do I go about getting it set up? I can't find any info on the maidsafe website regarding actually mining
The alpha client is going to be updated to allow hosting a vault "shortly" according to their release announcement but as of this moment it is still client only.
Don't hold your breath or anything but I do believe the team when they say it is coming very soon, likely within a few days.
well, if it gets online before storj does (who still isn't open to public testing yet) I have no problems bringing a decent amount of hosting space to the network!
I stand corrected re: storj
it's currently in public beta, but the rewards are minimal. Very minimal.
Hi! Glad we share a common love for MaidSafe and SteemIt :)
I've Featured your post in part four of my series on MaidSafe and SteemIt. Please check it out :)
Part 1: How SteemIt Can Benefit From MaidSafe and the SAFE Network
Part 2: MaidSafe 101 - The SAFE Network, MaidSafeCoin, MAID, SafeCoin and Project SAFE
Part 3: MaidSafe Alternatives, or "Doesn't Project 'X' Already Do What MaidSafe and the SAFE Network Does?"
Part 4: Conclusions on SteemIt + MaidSafe, Featured Articles, and Footnotes
Thanks again, and FYI I did hit that upvote and follow button on your post. Looking forward to your future posts and steem on :)
Thanks @nonlinearone I'm checking out your linked posts right now :)
I usually understand around 5 % of the technicality of cryptocurrencies, so maybe I overlooked something, but how is MaidSafeCoin in terms of supply? I know it is not meant to be money primarily, but is there a restricted amount like in btc?
When will it be ready for sharing my resources?
I don't know since I'm not on the team but the alpha release page says it is coming soon.