MaidSannouncesprojectSAFEtothecommunityVersion1.41.IntroductionExistingInternetinfrastructureisincreasinglyunabletocopewiththedemandsplacedonitbyover2.4billionconnectedpeople,anumberthatispredictedtogrowto3.6billionby2017.Todaysarchitecture,wherecentralintermediariesserversstoreandprovideaccesstodataisexpensiveandinefficient.Datacentresusebetween1.1and1.5oftheworldselectricitygrowingat60perannumandrepresentsignificantexpenditurefordatacentreowners,providersandbusinesses,whoallhavetopaytohostuserdataandmaintaintheinfrastructure.SecurityofuserdatahasproventobenearlyimpossibleintodaysnetworkswithalmostweeklyreportsofIDandpasswordthefts.Toovercomethesechallengesafreshapproachisrequired,asolutionthatremovestheseinordinatelyexpensivecentralpointsoffailure,dataleakageandbottlenecks.BydevelopingafullydecentralisedreplacementforallInternetbasedservices,SecureAccessForEveryoneSAFEwillensurethedecentralisedInternetisareality,enabling Autonomoushandlingofstructuredandunstructureddatatypes Privateandsecurecommunications Data shared at the filesystem level worldwide, no need for http, smtp,ftpetc. Highlyencryptedandprivatedataatrestandintransit The ability for people to self-authenticate onto the network and joinanonymously A network resistant to man-in-the-middle attacks or IP addressidentification A network that requires no administrators or human intervention of anykind No requirement for forward planning using infrastructure thatautomaticallyconfiguresarounditsusersinreal-timenodatacentres A highly usable and free API that enables a plethora of developers tocreate the next wave of secure applications not currently possible withtodayscentralisedarchitecture An underlying crypto currency called safecoin that will incentivise allactorsinthisecosystemSAFEistheculminationof8yearsofeffortbyMaidSandthecontinuedandgrowingnumberofprojectdevelopers.ThesedeveloperswillincludeMaidSandmanyotherdecentralisedInternetapplicationdevelopers.Pleaseseehttp//foranintroductiontothetechnologyaswellashttps// 4billion,whichcanbefurthersubdividedtofacilitatetrading.Thisapproachincreasesreuseofthecoins,furtherincentivisingminers.Thisproofofresourcewillrepresentdiskspace,CPUandbandwidthinvolvedinstoringshardsofination.Theseresourceswillincreaseovertime,creatingamuchdesiredincreasingvalueforsafecoinholders,whiledeliveringexponentialdecreasesinthecostofresources.Theproofofresourcealgorithmwillovertimeaccountforadditionalresources,suchasproofofbandwidth,proofofCPUprocessing,etc.Inessence,thisproposalwillensurecomputingresourcesaresharedamongstallusersatthelowestpossiblecost.MaidSafebelievesthisapproachwillprovidethemostcost-effectiveandefficientcomputingplatintheworld,realisingthecompany’svisionofanInternetforeveryone,freefromspying,privacyerosionanddataloss.6.IncentivisationandCoinDistributionTheSAFEnetworkisfullyinclusiveandenableseveryonetogetinvolvedandbecomeapartoftheproject,whetherasupporter,enduser,backerordeveloper.EndUsersAsendusersjointheSAFEnetworkanonymously,theywillstartavaultadatastorageandmanagementlocation.Thisvaultwilladditselfautomaticallytothenetworkandstartprovidingresources.Thesevaultsrequirenosetupandadministration,theyareasimpledownloadandinstall.Thenetworkisdesignedtoself-managetheseresourcesandrewardthesefarmersvaultownersaccordinglyinarandomfashion,unilydistributedacrossthenetwork,therebysecuringthenetwork’sdata.Theearningspeedisbasedonthestoragespacecontributedtoandverifiedbythenetwork.Fordetailsofthecalculation,pleaseseeAppendix‘TokenSystemonMaidSafeNetwork’.NotethedeveloperandcrowdsalelinesareobscuredbytheIPpool.Ifpeopleweretotryandgamethesystembyprovidingfarmerstostoredataandthenswitchthemoff,theywillsimplyremovetheirabilitytoearn.Atsometimeinthefutureitisenvisagedthenetworkwillbeabletodetectsuchdataandremoveitfromthenetwork.Inthemeantime,thiskindofattackiscostlytotheperpetratorsastheirearningpotentialisadverselyaffectedbytheiractions.Thisstrategyalsoallowsthenetworktoarbitrateandmanageresourcesmathematicallyandreducestheeffectsofthetragedyofthecommonstypedeficiencies,requiringuserstoprovideresourcesinanhonestmanner.Unlikemanycurrencies,thedistributionofsafecoinisbackedbyination.Thisinationrepresentstheworld’sdataandgrowsexponentially.Unlikegold,whichonlyincreasesatcirca1.5perannum,thequantityofsafecoinwillinitiallyburgeon.ThisisakintotheCaliforniagoldrush,wherethequantityofgoldgrewquicklywithenthusiasticminers.Insafecointhisismirroredbythenetworkbuildingtothestagewhereitisprotectingalloftheworld’sdata.Duringthattimetheminingfrequencywillbeexponentiallydecreasing.Whenalloftheworld’sdataissecured,miningwillnaturallyslowtoapacethatjustkeepsupwiththefungibilityofthewholesystemandtheincreasedresourcesunderitsprotection.Thiswillbepossibleaspeopletradesafecoinfornetworkresources.Theseresourcesareinitiallydata,butwilllikelygrowtobebandwidthtoallowsatelliteandmeshnetworksandprocessingpowerfordecentralisedmasscalculationworkamongstothers.Thenumberofresourceswillbecalculatedbythenetworkdynamicallyandinperpetuity.Thueofindividualsafecoinwillbemarketdeterminedandthisisanimportantnotion.Thenumberofcoinsincirculationisnetworkledandtheindividualvalueismarketdriven.Aspeopletradesafecoinforgoodsandservicesthismarketvaluewillberealised.MaidSafesfiguresforecastanestimatedminingrateovertime,thisforecastiscompletelydependentonanumberofassumptionsincluding;speedofnetworkadoptionandtheamountofdatastoredetc.MaidSafedoesnotseethisasanobstacle,ratherahugeopportunity.Competingintoday’smarketusingtheSAFEpropositionisanenormousadvantagetodevelopersmanyofwhicharedescribedinthispaperandtodosoinanopennetworkwhichisownedbynooneisverycompelling.BackersToallowdistributedownershipofthenetwork,MaidSafewillallocate30ofthetokensonday1.Thecoinsallocatedarefungible,particularlyintheofresourcesasbackersreachtheirrequiredreturnsorsimplytradethecoins.ThisallocationofsafecoinwillallowtwoseparateentitiestoberewardedaCurrentMaidSafeinvestors/shareholders.ThecurrentMaidSafeinvestorshaveinvestedforthepast8yearswithcompletefaithandastrongdesiretomakeadifference.Theseinvestorshavebeentheveryreasonthetechnologyisnowdevelopedandthisproposalpossible.Fivepercentofthesafecoinissuewillbelaidasidefortheseinvestorsandassafecoinisincreasinginvalue,currentinvestorswillbeabletoswaptheirshareholdinginMaidSforthecoins.ThecoinswillbeheldbytheMaidSafeFoundationforissuanceattherequestofeachshareholder.Thesafecoinherewillbeallocatedatthepointminersareintroducedontothenetwork.ThisallowsinvestorstoberewardedfortheirhelpovertheyearsandwillalsoallowMaidSafeequitytoreturntobeingownedcompletelybytheFoundation.ThisapproachwillensurethatMaidSafeasacompanyisnotinchargeoftheSAFEnetworkandshareholdersaretreatedwiththerespecttheydeserve.Whentheyareallocatedsafecointheycanholdtheseasanybackerwilltoday.bCrowdSaleParticipantsAcrowdsalewillenableeveryoneworldwidetoseedandbeapartoftheSAFEproject.ThiswilllastuntilMaidSafeCoinaresoldoutcirca8million.Iftheallcoinsarenotsoldtheeventwillendafter30days.ThecrowdsalewillenableadirectpurchaseuptotenpercentofMaidSafeCoin.Itisanticipatedthatsoonafterthecrowdsalecommences,MaidSafeCoinwillbelistedonexchangesandwillbetradable,rightuptothereleaseofsafecoin.ThesecrowdsaleparticipantswillbebuyingMaidSafeCoin,anintermediarycointhatwillbeswappedona11ratioforsafecoinoncethefullSAFEnetworkislaunched.PurchaseswillberecordedinthebitcoinblockchainviatheMasterprotocolsuite.MaidSafewillberunningatestnetinitiallyandwillpotentiallyneedtobringthenetworkupanddownduringtesting.AnintermediarycoinisrequiredascoinsmaybedestroyedfromtimetotimeasthenetworkisrestartedParticpantswillbeabletopurchaseMaidSafeCoinsusingeitherbitcoinormastercoinwithpaymentsbeingmadeviaawebsiteBuySafeCtotheMaidSafeFoundationsexodusaddress.Thisaddresswillbepublishedonboththecrowdsalewebsite,MaidSafesownsiteandalsotheSAFEnetworksitewww.safecoin.iopriortothecommencementofthecrowdsale.OncefundshavebeenreceivedMaidSafeCoinswillbeautomaticallygeneratedandwillbesenttoparticipantsmastercoinwallet.Ifaparticipantdoesnotalreadyhaveonethewalletscanbedownloadedforfreefromhttp//www.mastercoinwallets.org/.AtpresentonlyWindowswalletsareavailable,howeverawebwalletwillbeavailablesoon.TheMaidSafecoinspurchasedwillbecreditedassafecoinstotheparticipantssafecoinwalletsassoonasthefullnetworkislaunchedandfarmersappearonline.ThisallowsimmediatebenefittotheprojectandwilldemonstratethedesireofallbackerstodecentralisetheInternet,enablingaplethoraofnewandexcitingcompaniestoemergeandprovidetruueatminimalcost.FundsraisedfromthisroundwillbeheldbytheMaidSafeFoundationandwillbeutilisedtohousetheMaidSafecoreteamandprovidefinancialass