Rebrand safecoin, the digital currency of the decentralised network

MaidSafe are seeking talented designers to take part in a competition to design a logo for safecoin, the crypto currency of the SAFE Network. Potentially seen by millions, safecoin is the oil in the engine of the network, encouraging end users to provide their spare computing resource while incentivising developers to create great applications.

Safecoins will be used to access the network and use any of the services on it, such as messaging, VOIP, storage, exchange platforms, media streaming…etc…

Announced by Coin Telegraph, the competition went live today on design platform 99 Designs and in addition to the site prize, the winner will also receive 5000 safecoins, once the network is publicly launched later this year.

Safecoin differs from many other currencies as it does not use the block chain, instead running on the SAFE network transaction manager, which enables millions of transactions per second with transaction confirmations occurring at network speed (in seconds). On SAFE, the transactions are not chained, only retaining the existing and previous owner, and therefore providing each users with complete anonymity.

The winner will be chosen by both MaidSafe and the SAFE Network community members. MaidSafe will judge the opening round, reducing all entrants to a short list of no more than six. The SAFE community members will then judge the final round, picking the winner by voting on the community forum.