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MAID
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MaidSafeCoin
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What is MaidSafeCoin (MAID)?

MaidSafeCoin (MAID) was launched in February 2006. This is a project aimed at decentralizing the Internet. According to the developers, its concept is several years older than the concept of Bitcoin (BTC).

MaidSafeCoin is a product of the company MaidSafe, which aims to revolutionize the way people store data. The company stores its data in a distributed manner through a blockchain that uses the additional storage space and computing time provided by its users.

The SAFE network (secure access for all) is a new decentralized storage system consisting of shared resources of several users of the system. Thus, a huge decentralized network is created.

SafeCoins are distributed across the network based on the Proof-of-Resource algorithm. A "farmer " on a network is a person who provides the network with their bandwidth, computing time, storage, and running time. The data is stored in the farmer's Storage, but they can't access it. They get Safecoin in return whenever data is retrieved from their storage.

Who are the founders of MaidSafeCoin?

The concept of MaidSafe was developed in 2002 by David Irwin, the company's CEO. However, it wasn't until 2006 that it was a fully server-based Internet project, and many thought it would turn out to be a disaster. This has evolved into a decade-long enterprise dedicated to freeing its users from any control. When Apple first created its first iPhone, MaidSafe was already exploring the distributed network and cryptography. This technology now forms the basis of cryptocurrencies.

What makes MaidSafeCoin unique?

Over the years, MaidSafe has developed a number of algorithms, as well as received more than 20 patents. The initial Alpha 1 implementation or phase managed nodes using the SAFE Launcher to support multiple demo applications.

In the Alpha 2 and Alpha 3 phases, a network was created with more secure access via the SAFE browser. In Alpha 3, a secure autonomous network was developed with the addition of an autonomous layer that would make the network more decentralized, allowing users to run routing nodes and providing a secure transition during data processing.

How many MaidSafeCoin (MAID) coins are in circulation?

MaidSafeCoin (MAID) is currently trading at 0.469743 USD, with a daily volume of 1,495,525 USD. As of June 2021, there are 452,552,412 of MAID tokens in circulation, with a market capitalization of 212,583,328 USD, while there is no data on the maximum offer.

How is the MaidSafeCoin network protected?

Security seems to be the main priority of the MaidSafeCoin project. The data in the SAFE network is encrypted and divided into parts that are distributed among the network users. The people who store the data do not have direct access to what they store, and they are not aware of the data they are being asked to store. However, if a person participates in the network, shares their additional resources, they receive compensation in Safecoin tokens.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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