• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

MaidSafeCoin: Decentralized Internet

Bitcoinist by Bitcoinist
8 years ago
in Altcoin reviews, News, Reviews, Uncategorized
0
Advertisement

As Bitcoin had an ambitious dream to decentralize currency, MaidSafeCoin has an ambitious dream to decentralize the internet. The coin is only half the story, it is to be used in tandem with the SAFE (Secure Access For Everyone) network.

Why should we decentralize Internet, it seems to be working fine right? Well for now, at least. According to MaidSafe’s whitepaper, datacenters that support the Internet’s backbone are having increasingly trouble to cope with the 2.4 billion people connected to it, a number that is expected to increase to 3.6 billion by 2017.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

On top of that it’s highly expensive, as datacenters consume 1.3% of the world’s electricity on top of the specialized server equipment required. With this highly centralized situation that is bound to fail, decentralization, which MaidSafeCoin is trying to do, should occur sooner than later.

It plans on doing this by taking “all the Internet services currently available today and decentralizes them removing centers and other central points of weakness.”

Besides increasing reliability and stability of the internet if this were to happen, we would gain several other advantages such as privacy, anonymity, easier file sharing, and network resistance to MITM attacks just to name a few.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

How does it plan on accomplishing this goal? With their version of mining, which goes under the name of Proof of Resource. “Farmers” or miners in other cryptocurrencies, rely on mathematical proofs. With MaidSafeCoin, coins are earned by donating resources (CPU processing cycles, bandwidth, etc.) to the network, basically a p2p server system.

They donate these resources through a “vault”, similar to a Masternode in Darkcoins network, in that it is a node running on the network. Farmers are expected to receive 800 coins daily on average, according to MaidSafe’s website. With current prices however, being around 1.4 cents, that’s around $11.20. So even at fairly low prices, the reward is competitive with that amongst mining.

What MaidSafe is trying to do is revolutionary. Perhaps even more revolutionary than the idea of a decentralized currency. It’s going to go over its fair amount of hurdles as well, such as cooperation from corporations, getting enough users to become farmers to make this feasible, and possible laws that might interfere. However, if enough people come on board. I believe in the end everyone will benefit. This just shows that the concept of decentralization, the removing of a central figure, can be applied to all sorts of aspects of life.

For more information visit: Maidsafe.net

Written By: Nigel Dollentas A.K.A. Precrime3

[youtube id=”RdGH40oUVDY” mode=”normal” align=”center”]

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Crypto

Crypto Lender Voyager Digital Goes Bankrupt After Three Arrows Collapse

17 hours ago
Warba Bank

Warba Bank Becomes 1st Islamic Lender To Enter The Metaverse

3 days ago
Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

5 days ago
Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

6 days ago
Three Arrows

Three Arrows Capital Gets Notice Of Default On $660 Million Voyager Loan

1 week ago
Morgan Creek

Morgan Creek Said To Be In Bid To Secure $250-M To Counter FTX BlockFi Bailout

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.