Changelly experts are in constant search for cryptocurrencies, which would fit the needs of our clients the best. Today you will learn more about MAID in this blog post!
MaidSafe is a project aiming to create a network with ‘Secure Access For Everyone’ (SAFE). It takes shape of crowd-sourced internet, where you lend the free space on your computer to store the data and applications. Your data and applications will be easily accessible to you with no middleman and stored securely within the network at the same time. The process that enables this is called Self-Authentication.
Any data that access the network gets divided into pieces and distributed among the participants’ devices. These pieces are constantly duplicated and moved. First, you are always able to decrypt your data because as one of the users turns off his or her PC, the information is transferred to a different location. Second, it makes it practically impossible for hackers to target the stored information, as there is no specific location to attack. Finally, your data is impossible for a third party to delete. As more copies of data fractures are created, the popular websites do not crash when getting more visitors, but actually, reduce the loading time.
Safecoins are an incentive for the users of the network to participate in its growth and contribute the unused storage space on their computers. Specially developed algorithms distribute Safecoins among the participants with no human interference to the process. The whole process is called ‘Farming’. The user doesn’t get coins every time a chunk of data is retrieved, you can think of it rather as a lottery. The amount of the reward depends on the storage size a person can provide and the time the computer is turned on.
MaidSafe coins are a medium of exchange within the network, one can buy services available in SAFE; the other solution is to trade the digital token for other cryptocurrencies, which you can now do on Changelly. As the Farmers exchange coins for network features, MAIDs get destroyed to make sure that there are always coins to be earned. The planned production of coins for the network’s lifetime is 4.3 billion.