The creators of MaidSafe announced a 30 day crowd-sale of its safecoin digital currency for the SAFE software beginning at 9 am GMT on April 22. The sale allows the public to purchase MaidSafeCoins (a temporary middle man for safecoins) via Bitcoin or Mastercoin. These MaidSafeCoins will be converted on a 1:1 ration to safecoins when the SAFE network goes into operation.
Ten percent (429,496,729) of all safecoins will be available for purchase during the 30 day crowd-sale. Purchasers can buy safecoins with Bitcoin (1BTC = 17,000 MaidSafeCoins) or mastercoin (1mastercoin = 3,400 MaidSafeCoins). An additional 15% will be reserved for the Maidsafe Foundation and another 5% will be returned to early investors.
As an incentive to attract supporters, bonus tokens will be awarded to buyers depending on the time of their purchase. Purchasers will receive an additional 40% of tokens during the sale of the first block. As sales progress, the percentage of bonus tokens is reduced to 0% on the final day, encouraging buyers to invest early.
After the crowd-sale finishes, these existing safecoins will be valued from US$24-30 million, while the remaining 70% safecoins will be “farmed” (i.e. mined, but created by offering unused resources to the network). Their worth relies on farmers who desire to increase the worth of the network.
MaidSafe is developing the Project SAFE (Secure Access For Everyone) network which will utilize the safecoin. This currency is described by MaidSafe CEO David Irvine: “It will be used inside project SAFE to pay for resources and enable many more features over time such as cpu sharing, bandwidth sharing and much more. Safecoin will be used external to this network as a currency.”
MaidSafe looks to change the internet landscape as a decentralized internet platform that will elimate data centers and servers. As Irvine told us:
“MaidSafe seemed like an obvious answer, rather than creating large server farms, use peoples own computers. Create a large network that all computers join and allow people to access this network and store their information there as well as communicate etc. The problems that required solving were pretty huge, as this type of design had never been attempted. There were some p2p networks and so forth but nothing that could create a large network driven by the people for the people. This had to be something controlled by math and not humans. Another great puzzle for us to work on and solve.”
Additional information on MaidSafe and the 30 day safecoin sale can be found at: