MaidSafe’s SAFE Network in 90 seconds

Yes, the one featured on Silicon Valley.

The MaidSafe team is reinventing the internet. The SAFE Network will replace corporate servers (like Facebook data centers) with a peer-to-peer network (or “p2p”, like file torrenting), where all of humanity’s data can be spread out and securely backed up across everyone’s computers using spare storage space.

A working Alpha version is already available.

It was invented a couple years before Bitcoin was announced, and it doesn’t use blockchains at all — so there are no scaling problems (websites and data actually get faster as more people use and cache them); coin transactions are instant (rather than simply “fast”); and there are never any transaction fees for sending coins.

It’s free to browse this new internet — currently using the Peruse browser available here, and likely with a simple browser extension in the future — but you’ll pay a nominal amount (fractions of pennies) for uploading data. You’ll also get paid for hosting other people’s data; assuming you offer up enough storage, the fees cancel out and you end up with unlimited cloud backup for all of your files.

The coolest thing, in my opinion, is that people who create apps for this network will get paid simply based on the usage of those apps. To quote a recent new hire:

When we no longer pay for technology with our personal information and our attention, it allows for something remarkable: the worth of a product is based on its utility — what it can do for society — not on its ability to exploit people’s intimate data.

Want to learn more? Dive deep with this explanation if you’re familiar with Bitcoin terminology, otherwise watch this 2-minute video. Then head over to their subreddit.

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