Welcome to the New
…an economy where you don’t pay by sacrificing your privacy, but one where you own your personal data and are rewarded for what you contribute, in a currency inherent to the Network: Safe Network Tokens.
Share resources, get paid
The Safe Network has a cryptocurrency like no other. Digital cash with no public ledger. There’s no limit to the number of transactions which can take place instantly, privately and simultaneously.
Earning Safe Network Tokens is simple. Choose to become a Farmer and connect your computer to the Network. Watch as the Network automatically and continually moves chunks of data around the world to ensure efficiency. Proof of Resource takes the place of more expensive alternatives, like Proof of Work.
These tokens can then be used to buy Network resources—like the one-time fee for uploading data—or exchanged for goods and services like any other currency.
Contribute and be rewarded
The current ad-supported internet model is broken. On Safe, popular apps and sites are paid directly by the Network according to how much they get used.
Want to build an app or create content? The days of having to meet your website infrastructure costs are gone. With an open source platform, just build and deploy. Your personal data is no longer an asset for the profit of others.
Pay Anonymously, be paid privately.
Safe Network Tokens act as digital cash. Unlike blockchain based cryptocurrencies there is no public ledger; only the current and previous owner of each coin are known to each other. So you can be paid in privacy.
And you can even pay anonymously if you require it. It’s your choice.
Whaddaya mean, no Blockchain?
Unlike most cryptocurrencies the Safe Network will not have a blockchain. This means it will be highly scalable, unburdened by an ever-growing ledger of transactions.
This, combined with what is known as Close Group Consensus mechanism, provides something truly special: transactions that are confirmed at network speed and with zero transaction costs.
How do I buy Safe Network Tokens?
Safe Network Tokens are the currency that will power the Safe Network. They will be available to be farmed, used or traded. You can’t buy them yet, but you can buy MaidSafeCoin.
MaidSafeCoin (MAID) is a token that was created in a crowdsale in 2014 to support the project, and each MAID will be able to be exchanged for a Safe Network Token when the Network launches. Based on the Omni protocol on top of the Bitcoin blockchain, MAID can be purchased and traded, but not farmed.
MaidSafeCoin can be bought and traded at these brokers and exchanges.
Note: These online brokers and exchanges are not owned or maintained by MaidSafe. While we are satisfied they are trustworthy, reliable services, please use at your own risk.
MAID is based on the Omni protocol and there are no hard wallet options at this stage, so whilst you’re waiting to convert MAID to Safe Network Tokens at the launch of the Network, we’d always recommend that you store your coins in cold storage.
Safe Network Tokens: Frequently Asked Questions
What are Safe Network Tokens?
Safe Network Tokens are digital tokens that are generated automatically by the Safe Network and reside on the Safe Network. The Network will autonomously confirm account balances to wallets and allow transactions to take place. Safe Network Tokens are transferred using the digital signature of the coin’s last owner. This operation is 'network atomic'—in other words, the Network ensures that all copies update to reflect the transaction. This is a different approach to the blockchain mechanism employed in other projects, such as Bitcoin.
There can be many millions of transactions per second on the Safe Network and the larger it becomes the more transactions per second can be executed. A Safe Network Token only records the previous and current owners. By doing so, it ensures that the current owner was transferred ownership properly by the last owner. This allows coins to be transferred between people very easily and without delay.
Please note that Safe Network Tokens will not be active until the network goes live. See MaidSafeCoin for current proxy token.
How are Safe Network Tokens used on the Network?
Safe Network Tokens are the currency of the Safe Network. They are an incentive mechanism that rewards Users and developers, as well as providing access to network services.
Without any human intervention, the Safe Network pays out Tokens automatically to Farmers (users who join the Network by contributing their computing resources) and to Builders (application developers, who get paid automatically depending on how much their applications are used).
In addition, Core Developers who improve the core Safe Network codebase can also earn Tokens by providing bug fixes and new features.
Safe Network Tokens only live on the Safe Network. They are stored in a User's wallet and can be used to buy network services, such as increased storage space and access to network applications. There is no set distribution time for the 4.3 billion Tokens produced during the life of the Network.
Please note that Safe Network Tokens will not be active until the network goes live.
How do I buy Safe Network Tokens?
Safe Network Tokens won’t be issued until the Network goes live so they cannot be purchased at the moment. Currently you can buy MaidSafeCoin which will be able to be swapped on a 1-to-1 basis for Safe Network Tokens when the Network is launched.
What is MaidSafeCoin?
MaidSafeCoin is a proxy token that was released during MaidSafe's crowd sale and will be able to be swapped for Safe Network Tokens on a 1:1 basis when the Network is launched. MaidSafeCoin is listed on the Bitcoin blockchain and can be purchased on a number of exchanges and brokers including:
How do I buy MaidSafeCoin?
In essence all we have to do is buy bitcoin and exchange it for MaidSafeCoin. There are a few simple steps required to do this.
- Create an OmniWallet.
- Purchase bitcoin using your preferred vendor.
- Create a trade account on an exchange or brokers which lists MaidSafeCoin (e.g. on Bittrex).
- Send bitcoin to the trading account.
- Trade bitcoin for MaidSafeCoin.
- Withdraw / Transfer to OmniWallet.
- MaidSafeCoin is now in your OmniWallet!
Where can I store MaidSafeCoin?
As MaidSafeCoin is built using the Omni protocol on the Bitcoin blockchain, it can be stored in any wallet. They may not be visible within all wallet software (due to lack of Omni support) but the MaidSafeCoin will be OK there as long as your machine and private key for that address are secure. You will be able to view them using omniexplorer.info.
To create a new Omniwallet or open an existing one visit omniwallet.org.
What is Farming?
Safe Network Tokens are given as an incentive to users for providing their resources to the Network. These resources are their: storage space, CPU, bandwidth and online time that enable the encrypted chunks of network data to be stored and retrieved from their computer.
The process of providing resources and receiving Safe Network Tokens in return is called ‘Farming’.
Each piece of encrypted network data is stored in a Farmer's ‘Node’, a data storage and management location on the Farmer's computer which they cannot read, or access. The Safe Network is designed to self-manage these resources.
How will Farming work?
When a user of the network requests some data, for example by browsing a website, a number of things happen: First, the client software makes a request for the required data chunks. This message (a GET request) is then propagated across the Network and when the chunk is found there is a competition between the Nodes in that Section to deliver it to the Network where it will be routed back to the requester. The first Node to deliver will have a chance of being rewarded with one Safe Network Token. This is described as a Farming Attempt.
Farming Attempt means: by delivering data chunks when requested, a Node occasionally gains the opportunity to make a Farming Attempt. This consists of sending a validated request to a random Safe Network Token address. If an owned Token already exists at that address, the Attempt fails. If there are no Tokens there, one is created and awarded to the requesting Node (i.e. a successful Farming Attempt has been made).
Farming is therefore when a Node delivers data chunks that it is storing to the Network and earns Tokens in return. The probability of gaining a Farming Attempt is dependent on the farming_rate, which is a variable related to the quantity of available storage resources in the Network.