What is Madesafecoin?
SAFE (Safe Access for Everyone) is a network that is described as a fully shared management service. The network controls static and dynamic data and also communications. It holds data related to: Encrypts by clients Cryptographically signed networks The network is unable to decrypt any of the data on the network. It is also related to as a decentralized server that carry out daily tasks of httpd, ssh, scp, smtp, pop3, imap servers. The SAFE network takes over all the internet services that is available daily and simply decentralizes them, eliminating weakness points and servers to ensure privacy, security and anonymity to users of the network. It is a fair and transparent method of allowing developers, backers and end users to be involved with SAFE network, The coins may be earned, traded or bought and will generate a total of 4.3 billion cap. This network of SAFE comprises of unused hard drive space, including commodity computers and also CPU and Communications. The system users own the systems, but have limitations. Every computer will mine effectively for credits that can be exchanged for other valuables and services. The credits are known as Safecoin.
HOW SAFECOIN WORKS
Safecoin is demanded to clear services on the decentralized SAFE internet. Services are virtualized hardware that allows for secure data storage and processing just like an application that works on decentralized Internet system. The system of MaidSafe changes all linked devices into SAFE network modes that are jointly stored for users of MaidSafe. It allows public and private cloud data storage and processing on the SAFE network. The stored data is decentralized automatically, meaning that no one or cooperation has exact copy of user’s file.
When a MaidSafe client is linked with SAFE network, the clients is takes decision to allocate a part of their local disk space or memory space to the network. The space is known as vault. A client can be connected to different devices to the network of MaidSafe, that everyone contributes some storage space to the network via the vault. The client can save an amount of data equivalent to the estimated space allocated to the network.
MaidSafe client application is a type of application and service just like cloud storage, encrypted messaging, web sites, virtual wallets, document processing. Client apps provide the functions of the network of MaidSafe using the following features: Self Encrypting Data Decentralized Public Key Infrastructure Self Authentication Client application can store, mutate, communicate and allows communication on the network. The client allows other users to connect to the network anonymously and would not be able to stop other people from connecting with the network. Data is shown to clients as virtual drives mounted on their machines, internal to applications, application data and dynamic data that are changed through client applications based on programmed application methods.
When a client saves data or file on the SAFE network, the file is not saved exactly on one vault. Each chunk of the file is chunked and encrypted. Several copies of the encrypted chunks are spread across the network, to various vaults. All the files are then gathered by the SAFE network if the clients want to retrieve them, the files are later on decrypted and re-coupled to an original document. Bob spreadsheet would be analyzed and saved across provided vaults by Alice.
VIRTUAL CURRENCY PROVIDERS
Virtual currency has a secured wallet issued, that stores wallets on third party servers which is neither safe nor secured. Such systems give room for local wallets to be established and secured by encrypting the file disk. This safer than non encryption but does not protect attacks or theft. Using the platform of MaidSafe, it is possible to be available on each device in any destination for the person only, existing clients just like Bitcoin wallets that is located on the wallet to the virtual drive users available after entering the MaidSafe network.