What is Safecoin?

Safecoin is the crypto currency of the SAFE (Secure Access For Everyone) network.

Safecoins are primarily use to pay the cost of putting data on the network. There are four ways to acquire Safecoins:

  • Earn them by running a Vault on your computer.
  • Get them from somebody through gift or trade.
  • Make an application and earn Safecoins through the App Developer Reward program.
  • Contribute to the development of the core network through the company MaidSafe or its affiliates Safe Pod across the globe.

Running a vault is commonly called “farming”. When running a vault, you allow other users to upload data on you computer. You don’t get paid right away though. You only earn Safecoins when a user succeed in getting back that data. I other words, the Safecoins you earn is the proof that you were a good shepherd and kept the data of a user.

The SAFE network takes all the Internet services currently available today and decentralizes them, removing servers and other central points of weakness enabling privacy, security and anonymity to all Internet users for the first time.

Safecoin is a fair and transparent way of giving end users, developers and backers the opportunity to involved with SAFE network. safecoins may be earned, traded or purchased and a total cap of 4.3 billion will be generated.

See also FAQ: What gives Safecoin value and differentiates it from altcoins?