Safecoin Farming 101: Simplified v2.0
Farmers cultivate and maintain farms. Farms consist of land, in the SAFE network the farmers land is the hard drive space the farmer provides to the SAFE network. Farm land is planted with seeds, in the SAFE network seeds are the encrypted data chunks the SAFE network puts on to the farmer’s hard drive. Seeds grow into crops, on the SAFE network crops are encrypted data chunks requested by the SAFE network. Crops are harvested when the SAFE network successfully gets encrypted data chunks off of the farmer’s hard drive. The SAFE network rewards farmers with lottery tickets for each successful harvest. Farmers earn Safecoin when their lottery tickets win the lottery. Whether a lottery ticket is a winning or losing ticket is determined by the SAFE network in less than a fraction of a second. How much that winning lottery ticket pays is based off the farmers ranking on the SAFE network and the supply and demand of the SAFE network’s resources. The SAFE network lottery operates similar to the free market system and ensures farmers get paid the perfect amount as the SAFE network resources change over time.