What it is

From SAFE Network Wiki
Jump to: navigation, search

The SAFE Network is a secure and fully decentralised data management service. The network is made up from the unused computer resources provided by the individual network participants.

Users on the SAFE Network provide a small part of their computer resources: hard-drive data storage, CPU processing power, and communications bandwidth. This local resource is called a Vault. Each Vault is cryptographically secure and connects to other Vaults throughout the network.

The User's data is encrypted and broken up into chunks. These chunks are then distributed around other Vaults in the network. At no point do any of the other Vaults know anything about the data they have been asked to store, other than anonymous network address information.

The result of the encryption and network-wide distribution of information is a highly secure and private data management and communication experience for all Users.

The SAFE Network also supports applications and programs that can be accessed by network Users. These applications may be free to use or paid for by using safecoins.

Safecoin is the currency of the SAFE Network and is the oil of the SAFE Network engine. This digital token can only exist on the SAFE Network and incentivises desirable behaviour. Users can earn safecoins by providing resources to the network. Similarly, Application Developers can earn safecoin by creating applications. Safecoins can be traded for any type of network service, or converted to other cryptocurrencies or traditional fiat currencies, after decentralised exchanges appear.

As the SAFE Network grows, it is anticipated that the value of the limited safecoins will grow. Safecoins are only generated by the network based on how much it is used, ensuring no over-supply. Initially safecoin will be the only currency on the network and this utility will help to further drive it's value.

Click here to watch an introductory video overview of the SAFE Network

Content