Welcome!

News Feed Item

MaidSafe Crowd-Sale Begins on April 22

Groundbreaking Peer-to-Peer System Designed to Decentralize the Entire Internet and Web Will Crowd-Sale Its First $8 Million of Software Tokens, With 10-40 Percent Bonus for Early Participation

TROON, SCOTLAND -- (Marketwired) -- 04/21/14 -- MaidSafe (http://maidsafe.net/), creators of a peer-to-peer encrypted network of tokens that can decentralize nearly every aspect of the Internet, including all Web services, today announced the opening of a 30-day crowd-sale of its enabling software, Project SAFE, taking place at www.safecoin.io. Purchasers will receive additional tokens descending in amount by algorithm as the sale progresses, starting at 40 percent for the first purchases and descending via a smooth linear algorithm to no additional tokens on the final day.

Safecoins are tokens generated and protected by the SAFE network, which facilitate the wide array of applications which can be developed using them, from decentralized cloud storage to secure websites which cannot be attacked. Ten percent of all safecoins (429,496,729) will be made available during the crowd-sale, with a value of 17,000 safecoins per Bitcoin. An additional 15 percent will be reserved for the MaidSafe Foundation, which will use these coins to reward developers and operate the foundation, and 5 percent will be returned to the early investors in MaidSafe.

The crowd-sale begins at 9 a.m. GMT (British Summer Time), Tuesday, April 22, 2014 (1 am PST, 4 am EST). The exact amount of money generated depends upon the price that day of bitcoin (currently around $500) and the time at which the tokens are purchased. A complete sale of all 429,496,729 safecoins would generate roughly $8 million, depending upon how many coins are sold during which weeks and the price of Bitcoin during each transaction, as the price per safecoin will remain fixed throughout the sale at 17,000 safecoins per bitcoin.

Upon the completion of this crowd-sale, the value of existing safecoins will be approximately $24-30 million, with the remaining 70 percent of a capped number (like Bitcoin) of safecoins to be "farmed" (analogous to mining, but created by contributing resources, such as storage space) by anyone who wishes to add value to the network. The initial tokens will utilize a proxy token, the MaidSafeCoin, which will be recorded on the Bitcoin blockchain. When the full SAFE network becomes operational, MaidSafeCoins will be swapped for safecoins on a 1-to-1 ratio.

Project SAFE (Secure Access For Everyone) is a fully distributed platform that rides on top of the Transmission Control Protocol of the Internet Protocol (TCP/IP). It uses key/value storage and Kademlia-based routing to decentralize every aspect of the Internet, including all Web services. "What Bitcoin is doing for decentralizing money, safecoin will do for decentralizing all Internet services, including enterprise data centers," said David Irvine, MaidSafe founder and CEO.

There are two ways of taking part in the safecoin crowd-sale:

1) Send bitcoin to the address provided on the crowd sale site (buysafecoins.com) from a wallet you control (e.g., not Coinbase).
2) Mastercoin holders can send direct to the MSC address provided on the crowd sale site (buysafecoins.com).

For step-by-step instructions, please refer to this presentation link (which will be updated on the day of the sale with additional information): http://bit.ly/1mq2rqj

During the crowd-sale, 10 percent of all safecoins will be made available to buyers from anywhere in the world (429,496,729) through a proxy token, the MaidSafeCoin. Once the MaidSafe network goes live, the MaidSafeCoins will be redeemable for the network's native safecoins at a 1-to-1 ratio.

By decentralizing the Internet, Project SAFE will enable:

  • Private, secure communications, with autonomous handling of structured and unstructured data types.
  • Decentralized solutions that replace HTTP, SMTP, FTP, etc., and are immune to DNS manipulation, (i.e., this network cannot be blocked)
  • Ability for people to self-authenticate onto the network and join anonymously
  • A network that requires no administrators nor human intervention of any kind
  • A highly usable and free API that enables a plethora of developers to create the next wave of secure applications not possible with today's centralized architecture
  • An underlying cryptocurrency (safecoin) that will incentivize all actors in the ecosystem

Project SAFE will operate on an incentivized proof-of-resource model. Once a computer becomes part of the network, its ability to store data chunks (CPU speed, bandwidth, online time, etc.) will be measured and the computer's account will be issued the corresponding amount of safecoins. This software may also be traded or purchased.

About MaidSafe
Founded in February, 2006, with the intent to decentralize the Internet, MaidSafe has been working on Project SAFE for eight years (longer than the Bitcoin blockchain has been in existence). Based in Troon, Scotland, the 14-person team has received a total of $5 million in private investment to date, and it will be using the not-for-profit MaidSafe Foundation (http://www.maidsafefoundation.org) to control issuance and manage the funds generated during the April 2014 crowd-sale.

The MaidSafe platform is designed for third-party application providers to create their own application environment and removes developer risk for startups. Self-authentication allows for everyone to be in complete control of all data, beyond encryption to include physical access. In essence, nobody knows where any data is located, thereby providing completely private and unilateral access by individuals. The network lets users manage any information completely free of any third-party involvement. Users can store, share, chat and publish 100 percent under their own control and knowledge. For more information, visit http://maidsafe.net.

References
MaidSafe white paper: https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md

Metaquestions essay: http://metaquestions.me/2014/04/12/safecoin-why-its-safe-and-what-it-means-for-us-all/

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.