MaidSafeCoin or MAID was launched in February 2006. It is a project that aims to decentralize the Internet and make it autonomous and secure. The SAFE network works in a similar way to the TOR network, i.e. all online content is distributed and accessible through a peer-to-peer (P2P) mesh network.
Presentation of the SAFE network and MaidSafeCoin in a few figures
Graph of the MaidSafeCoin price in dollars
The current price of the MAID token
The price of MaidSafeCoin has been rising significantly since the beginning of 2021. Since the beginning of the year, the price of MaidSafeCoin was around 0.3 dollar. But at the beginning of March, this price started to increase gradually until it reached the price of 1 dollar in April. Its price fluctuated around this value before starting a new decrease. Today its price is 0,89 dollar.
History of MaidSafeCoin and its course
- Since 2006, MaidSafe, a company based in Scotland, began developing the SAFE network.
- In April 2014, the presale sold 10% of all MaidSafeCoins. It was possible to buy 17,000 MaidSafeCoins for 1 BTC at that time. The company gave 30 days to try to reach its fundraising goal of $8 million, but reached the goal in just 5 hours.
- Until the year 2017, the price of MaidSafeCoin stagnated at a paltry value.
- Over the year 2017, however, MAID experienced two significant increases reaching the price of 0.70 dollar. Moreover, it was at the end of 2017 that MaidSafeCoin’s biggest rise began, since at the beginning of 2018, it came close to the dollar. This is due to the evolution of Bitcoin and other cryptocurrencies that also experienced a rise during this period.
- At the end of 2018, the price of MAID then fell back, not exceeding the 0.14 dollar.
- It is in early 2021 that the price of MaidSafeCoin resumes its rise alongside other cryptocurrencies and in particular the line leader, Bitcoin. Since March 2021, the price of MAID has reached 1 dollar and surpassed its previous high in 2018.
The listing of MaidSafeCoin
MaidSafeCoin, like other cryptocurrencies, is a rather unstable and volatile investment. Its price depends on several factors that make its evolution dazzling in one direction or another. If its primary purpose is to be a reward currency for the SAFE network, this virtual currency can also be used in the stock market. Indeed, MaidSafecoin is traded on HitBTC, Poloniex and Cryptopia for example. Just under $1 million worth of MAID is traded daily on cryptocurrency exchanges.
Factors influencing the price of MaidSafecoin
The price of Bitcoin (BTC) and other cryptocurrencies
As with all cryptocurrencies, the price of MAID is dependent on the price of other virtual currencies, especially Bitcoin. This is evidenced by its price history in 2018 and 2021. Indeed, crypto-currency investors tend to increase their purchases in different currencies tenfold and thus drive up the rates of many of them. Likewise, when the rates decrease, investments are made less for all of them.
The law of supply and demand
Consequently, an important issue of a stock exchange value is the dimension of scarcity and thus of balance between supply and demand. The price will increase if the currency becomes scarce and therefore if the demand is greater. On the contrary, the price will fall if the currency becomes more common, i.e. if the supply is too important. It seems normal for the moment that MAID is not in demand and therefore has a low price since it is a specific cryptocurrency for a precise project and which, in addition, is at the Alpha 2 stage of its roadmap. It can be estimated that the demand will be higher after the development is completed.
The reputation and the progress of the SAFE project
The reputation of a cryptocurrency also has a significant impact on demand and therefore prices. MaidSafeCoin is still little known, since the project, which includes it, is not yet finished being developed. However, we can already estimate that when the announcement of the finalization of the project, the media coverage will be such, that the demand and the price of MAID will increase, in a dazzling way.
MAID forecast in 2021
According to the website WalletInvestor, the price of MaidSafecoin will rise again in 2021 and exceed the price of 0.84 euro in 2022.
According to the website TradingBeast, the price of MaidSafecoin will actually reach the price of 0.81 dollar during the year 2021 and continue its rise. Yet, according to their predictions, after remaining at the same rate, Maidsafecoin will fall back to 0.63 dollar in June 2022. However, they also estimate that the value of this currency will rise again over the following years and reach the 1 dollar mark. Thus, it could be interesting to invest in this cryptocurrency in the coming year but you will have to keep a close eye on the prices. Moreover, for the moment, the interest of this currency is more in the participation in the data storage network than in its trading. Of course, this situation could greatly change with the completion of the MaidSafe network project.
All about MaidSafecoin
Why and how was it created?
The Maidsafe project
Maidsafe is a project destined to become a decentralized Internet, founded in 2006 by the Scottish engineer David Irvine. He created a team of diverse professions such as inventors, tinkerers, engineers and designers. The core team is based in Scotland but employs other talents from many different cultures and countries. The project is intended to reflect its target users: diverse.
MaidSafe’s goal is to ensure privacy, security and freedom for all its users.
Indeed, online data is still not very secure and is subject to theft. More than 2.5 billion personal data were stolen in 2017, for example. Similarly, it is sometimes difficult to trust the companies that secure data. While current methods guarantee us the security of data such as credit cards or medical records, using the internet requires us to give up the principle of privacy. This privacy does not mean secrecy or hiding crimes, but rather protecting one’s ability to choose what thoughts and actions to share.
Maidsafe is looking for a new way to manage data by combining several features. This will provide a level of security unmatched by current methods. The principle of the project is based on the creation of a decentralized open source data network called the SAFE network.
MaidSafecoin
MaidSafeCoin is the temporary cryptocurrency coin used for the alpha and beta versions of the SAFE (Secure Access For Everyone) network. MAID is an acronym for Massive Array of Internet Disks. There is no total supply of MAID coins, other than by mathematics, which allows for about 4.3 billion MAIDs. This is determined mathematically by the fact that each part file is 32 bits, which leaves as many possible number combinations. This is true for the SAFE coin, which is a file, but MAID is a cryptocurrency.
How does MaidSafecoin work?
A secure, data-centric P2P network
The ultimate goal of the SAFE network is to “create a secure, self-sustaining, data-centric peer-to-peer network as an alternative to the current server-centric model.” There will be two main users of the network: clients and farmers. The client accesses the various features of the network, such as browsing, data storage or money transfer. The farmers store and manage your data until it is needed, at which point they can receive a reward for their efforts. The SAFE network is an “encrypted layer that sits on top of the current internet, enabling autonomous data storage and networking by replacing three of the OSI network layers.”
“Farming” instead of mining
Instead of mining, users on the SAFE network will be able to share system resources in the same way that they control upload and download speeds in today’s BitTorrent clients. However, instead of just network bandwidth, users will also share hard drive space, memory and CPU processing power.
MaidSafe uses the term “farming”. This is called resource proofing.
Instead of solving complex algorithms, farmers essentially act as Internet microservers, storing user data in vaults. When users access the data, the farmers are rewarded by SAFE for providing it first. The distribution system uses a random coin generator, and if the generated coin does not belong to anyone, it becomes yours. This system is obviously encrypted and secure.
The virtuous circle of MaidSafecoin security
The MaidSafe network was designed to offer users a decentralized way to store their data by removing the usual companies from the picture. Thus, the network aims to create a virtuous circle of secure storage by cutting out the intermediaries subject to leaks. Farmers are rewarded for the security they provide, and that same reward allows them to secure even more data in the future.
Thus, tokenizing the concept of the distributed Internet is the new ingredient that MaidSafe brings to the table. It will be interesting to see if the development team succeeds. It will take solid technology and a lot of money for marketing.
What’s the point of using and investing in the MaidSafecoin network?
MaidSafe, the first project of its kind
Although created before Bitcoin, MaidSafe is clearly hoping that jumping on the blockchain bandwagon will lead it to success. The idea of a mesh Internet is not new – TOR and torrents have been using distributed and decentralized methods for years. MaidSafe has simply symbolized the process. The company hopes that the network will, at the end of its development, be a project synonymous with innovation. Indeed, it goes against the grain of the all-powerful user data sales industry. Even better than what is currently proposed in terms of security, this network will be autonomous and will not depend on any company that might use this data.
Absolute data security with the MaidSafe network
MaidSafe offers new data security features. For example, when you transfer a file over the network, such as a photo, it is divided into pieces, called shards, and fully encrypted. This data is then randomly distributed across the network, and redundant copies of the data are created so that if the person storing parts of your file shuts down their computer, you can still access it from somewhere else on the network. In addition, because no node on the network stores your entire file, they can’t read it completely, which adds an extra layer of security. The network automatically creates additional copies of the most requested data so that popular websites can be accessed from more nodes, further speeding up the system.
SAFE’s hash function is capable of fully mapping any data element into 256-bit strings, and the network can perform the XOR operation on the hash value to randomly create a unique distance to any other data element. This is not a physical distance but a mathematical distance between two numbers.
MaidSafeCoin is opposed to centralized storage and therefore offers a solution in the form of safes. The safe software can connect you to the SAFE network and save the distributed data on your computer. The people who manage the safe software are known as farmers. You can voluntarily become a farmer by notifying the network, which then sends you a request for proof of resources to verify your bandwidth and CPU power.
The future of the MaidSafe network?
Safecoin will serve as a currency for the SAFE network, a network made up of the extra hard drive space, processing power and connectivity of its users’ data. It aims, therefore, to implement a sharing economy, but for digital resources. MaidSafe’s ambition is to save the world from the dangers of centralized data storage. Currently, in the best case, companies use your data to better target you for their advertisers. In the worst case, they are releasing your private data to the public, like Yahoo, Target and other companies.
The drawbacks of MaidSafecoin
For this virtual currency, it is still impossible to exchange fiat currency for MAID. In addition, the MAID token is not widely accepted as payment outside of the SAFE network.
Often, the niche coins lack the support that other more well-known cryptocurrencies might have. However, since this currency is project specific, this is a justified flaw.
How to manage MaidSafecoins?
How do I get MaidSafecoins in 2021?
To get MaidSafecoins, you need to:
- Get a suitable wallet: Since this cryptocurrency is the currency of a very specific network, there are few compatible wallets. The most secure and easy option for MAIDs is to create an OmniWallet.
- Buying MaidSafecoins through Bitcoins: MaidSafe currency cannot be exchanged for fiat currency. Therefore, you will have to invest in Bitcoins first to make the exchange. There are exchange platforms such as BC Bitcoin or Binance, especially for niche currencies.
- Store your coins in a wallet: It is more reliable to keep your cryptocurrency in a secure wallet than on the exchange platform.
How to store and secure your MaidSafeCoins tokens?
Safecoins are based on a system of accounts so the system stores the balances of all accounts. Transfers are based on the signature of the last owner, which is different from the usual blockchain mechanism like Bitcoin. However, the Maidsafe system shares some similarities with the Ethereum accounting system.
The OmniWallet
The OmniWallet is an online wallet that stores your tokens in the cloud. It requires no download and is easy to use. This wallet offers few features but specializes in usability. It is rare to find a wallet with such a simple and easy interface. So OmniWallet is made for everyone, even beginners. It also works with any operating system: Windows, Linux and Mac OS.
This wallet is a hot wallet and is therefore suitable for traders trading an average rate of cryptocurrencies in fairly short intervals of time. Be careful though as your tokens will remain online and may be subject to attacks. In addition, this wallet only deals with a few virtual currencies and therefore limits the freedom of trading.
Thus, MAIDs can be stored in the OmniWallet until they are converted to SAFE when the main network is launched. ICO token holders will receive 10% of the SAFE offering, but an additional 5% will be given to the founders and shareholders of the project, meaning they will own one-third of the initial offering.
How to sell your MAID tokens?
Just like when you bought your Safecoins, you can sell them on the exchange platforms mentioned above. Be careful, you will have to go through a first exchange in Bitcoin since this crypto-currency cannot be changed into fiat currency.
Lost access to your MAID tokens?
Unfortunately, if you lose your password or private key or even get hacked, it is almost impossible to get your tokens back. It is therefore essential to secure your wallets and keep your access codes off your computer.
For more details, you can read the previous article on Monero and its XMR.
Our opinion : MaidSafecoin, a good investment choice ?
MaidSafecoin, a good stock market investment?
In terms of stock market investment, MaidSafeCoin may not be the best choice. While the currency itself may have a bright future with the blossoming of the SAFE network, it remains a minority cryptocurrency. It is very difficult to buy or sell since it requires the passage through Bitcoin. Moreover, its price is not very high although it knows interesting increases.
Its main interest lies in the possibility of farming and secure data and thus participate in the development of the decentralized data network project. Once the network is available, the most interesting thing for most users will be to secure their data. At that point, MaidSafeCoin will surely take on a larger scale as it will reward farmers.
The development team is, still, in the Alpha 2 stage of its roadmap. Thus, this cryptocurrency, like many others, has a promising future since the concept of decentralized Internet is new and growing. In fact, we can cite the example of Cosmos, which has goals that are close to the MaidSafe project. Following the idea of the first crypto-currencies and new ambitions, MaidSafeCoin participates in a project of decentralization of money, social media but especially online data. This is a major issue in the conscious use of networks. The MaidSafeCoin and the MaidSafe network, in general, represent an innovation to keep an eye on because it could well bring the concept of privacy to networks that tend to lose it.
