Wallets (How it works)

From SAFE Network Wiki
Jump to: navigation, search

The SAFE Network wallet is a place that holds the credits and the credit change history for an account.

When a User joins the SAFE Network, they automatically have a wallet. Safecoins are obtained by contributing resources or services to the network, or are gotten from others who have so contributed. (See here for a more detailed description.) These safecoins are stored in the User's wallet.

These safecoins can then be used to buy more resources, applications or services, or are traded for other digital currencies or cash through an exchange service.

A User can view the contents of their wallet through the SAFE Network Client.

When safecoins are transferred from one wallet to another, the transfer is a process of signing over ownership (with the private key) to the other User. The SAFE Network confirms the transfer via the Transaction Managers and coin holders, who all require collaboration and agreement that the transaction is valid.