Bitcoin vs Safecoin comparison chart


#1

I would like to see a Bitcoin vs Safecoin comparison chart. I don’t know if Maidsafe (the company) is making or has one but it would be very convenient to use when people ask why Safecoin is better or different than Bitcoin.

Maybe someone in the community with the right skills wants to do this ?


Not user friendly?
#2

I think this sounds like a good idea @Melvin. I feel that we should focus on showing that bitcoin and safecoin (digital cash) are complimentary rather than competing so it might be good to position both coins as being different rather than better/worse. Just my opinion though


#3

Not a chart but I just made some notes and thought they’re relevant so here they are:

SafeCoin

David Irvine explains… “User Defined data” of a SafeCoin can hold a file/directory (no blockchain bloat issues cos SafeCoin confess with its own storage, accessible to everyone, free, all the time - nothing to pre-download as in bitcoin-QT).

SafeCoin can be used for anything, such as bets, shares, trades, smart contracts etc." ----> SAFE is bitcoin/Ethereum on steroids!
See my post and David’s reply here

Safecoin are held differently to immutable data chunks (to be documented):

“Coins are held as group data and maintained by that group, so not distributed like immutable chunks, but managed more like structured_data_versions.” ~ David Irvine (forum post)

Safecoin Differentiators

Safecoin is a secure decentralised currency secured by cryptography and a decentralised network, with similar characteristics, but wholly different technology

  • Secure (Safecoin is at least as secure as bitcoin. For example, the famous bitcoin “51% attack”, would require at least 75%, and even then have only limited vulnerability.)
  • Truly Anonymous (No blockchain - only anonymous ids are recorded, and only the current and immediately preceding owners ids are retained.)
  • Massively Scalable (Instant transactions regardless of transaction volume - no blockchain bottleneck.)
  • Accessible (Anyone with a computing device can obtain Safecoin simply by joining the network and farming by sharing bandwidth and disk space with the network, whereas this was only feasible with bitcoin during the early days and now a small number specialised “miners” earn almost all the bitcoin available. On SAFE network, farming capability will remain much more evenly distributed even as the network matures and farming rates decline. See @fergishpost).

These factors have very significant implications for the widespread adoption, application and longevity of Safecoin as opposed to other crypto currencies which are, in the case of bitcoin and other blockchain based currencies for example, severely hamstrung by deficiences in several of the above areas.


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#4

Hmmm I’m not really for the comparison blablabla
But it’s super important to hear how Safecoins work. I thought it was just a simple thing, but BOY WAS I WRONG…

If you got fiat currency you should convert it all into Safecoins, because it’s priceless


#5

Easy

This is Bitcoin

This is SafeCoin


#6

You forgot to show the diagram of what the SAFE network would be, that’s a challenging one given your previous diagrams! :smiley: