MaidSafeCoin Whitepaper

Abstract

Existing Internet infrastructure is increasingly unable to cope with the demands placed on it by over 2.4 billion connected people, a number that is predicted to grow to 3.6 billion by 2017. Today’s architecture, where central intermediaries (servers) store and provide access to data is expensive and inefficient. Data centres use between 1.1% and 1.5% of the world’s electricity (growing at 60% per annum) and represent significant expenditure for data centre owners, providers and businesses, who all have to pay to host user data and maintain the infrastructure. Security of user data has proven to be nearly impossible in today’s networks with almost weekly reports of ID and password thefts.

To overcome these challenges a fresh approach is required, a solution that removes these inordinately expensive central points of failure, data leakage and bottlenecks. By developing a fully decentralised replacement for all Internet based services, Secure Access For Everyone (SAFE) will ensure the decentralised Internet is a reality, enabling:

Autonomous handling of structured and unstructured data types
Private and secure communications
Data shared at the filesystem level worldwide, no need for http, smtp, ftp etc.
Highly encrypted and private data at rest and in transit
The ability for people to self-authenticate onto the network and join anonymously
A network resistant to man-in-the-middle attacks or IP address identification
A network that requires no administrators or human intervention of any kind
No requirement for forward planning using infrastructure that automatically configures around its users in real-time (no data centres)
A highly usable and free API that enables a plethora of developers to create the next wave of secure applications not currently possible with today’s centralised architecture
An underlying crypto currency called safecoin that will incentivise all actors in this ecosystem
SAFE is the culmination of 8 years of effort by MaidSafe.net and the continued and growing number of project developers. These developers will include MaidSafe.net and many other decentralised Internet application developers. Please see http://maidsafe.net for an introduction to the technology as well as https://github.com/maidsafe/MaidSafe/wiki for access to project documentation and code.

The inclusion of a crypto currency is not new to the maidsafe core design. It is a logical step included in the initial design many years ago (2006). Importantly, this proposal creates no founders pool or shares but, incentivises funders, developers, users and satisfies existing investors in MaidSafe. This allows MaidSafe to clearly show this network truly belongs to us all and in perpetuity. It is a hugely important step to ensure the network is widely used and worked on by many hundreds of developers who can see the potential for a fully secured, unowned and decentralised Internet. The proposed crowd sale will seed the network, expand the developer base worldwide and push the whole proposition to the wider community in a manner that is extremely clear and logical.

MaidSafeCoin Website
MaidSafeCoin Whitepaper

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