What is MaidSafeCoin (MAID)?
MaidSafe was launched with a vision to secure user data by establishing a decentralized network, called SAFE. SAFE (short for Secure Access For Everyone) will leverage P2P technology to create a completely decentralized alternative to net-based services. To do so, the network will allow people to maintain data on their personal and private hard drives. In addition to that, it will employ the distributed hash table technology.
Besides, the project will have Safe Network Tokens. The token will be used to cover any expenses within the network, as well as incentivize network users. As of January 2023, the SAFE Network is still in its development phase.
However, before the network is released, MaidSafe offers the MAID token. MaidSafe uses the Proof-of-Resource consensus mechanism to acquire MAID coins and encourage users to expand the system by receiving rewards. There are various ways to obtain MAID, including farming, assisting with code maintenance, and purchasing apps. Furthermore, by correcting problems, adding new features, and creating apps for the SAFE Network core developers can also earn MAID. You can see the current MAID price on the live MaidSafeCoin price chart above.
Essentially, MaidSafeCoin is a proxy token. The MAID token is based on the Omni protocol. However, there's also an ERC-20-based version of the token – eMAID. It will be possible to exchange MAID tokens for Safe Network Tokens at a 1:1 ratio once the SAFE Network is up and running.
Who Founded MaidSafe?
In 2006, a Scottish engineer named David Irvine founded MaidSafe, which is currently headquartered in Scotland. Then, using a team of engineers, finance experts, and developers that run MaidSafe, the company started developing the SAFE Network. Besides, after a round of crowdfunding in 2014, the MaidSafeCoin crypto asset was created.
Don't forget to check the MaidSafeCoin price chart above to see the main movements in the asset's value.
