And even you got the data, the network cannot decode it so any fork could not decode it. That is done on the user’s computer. And so all data has to be downloaded then uploaded on the new network. Even the vaults cannot read the private data, even if they wanted to
I had the same question, so thanks for asking. I have a separate, but related question. I heard that the SafeCoin will be principle currency if the network, but at a very later stage other existing currencies may come in - I assume for purchasing ‘things’ rather than space. Any info on how this may work? It’s is as simple as you can purchase something from a site hosted on the SafeNetwork, transferring Bitcoins to the vendor as a purchase or donation, or something more integrated?
Most likely these other coins will be set up using data objects (likely to be appendable data) with an application to handle the transfers. If its done using them then there will be some cost of safecoin for the writing to the network done in the process
As others have said, it’ll be possible to make all kinds of tokens on the Safe Network that can be transferred at very low cost, near instantly, and with huge transaction volume capacity.
My hope is that developers will figure out a way of having Safe Network connected full-nodes for various blockchains that can ‘lock up’ other crypto assets on their respective blockchains, and issue Safe Network proxy tokens for them. The proxy tokens would be able to be ‘withdrawn’ by burning the tokens on the Safe Network in response to the full nodes.
So far, nobody has laid out how this could be done securely, but I’d be very interested to hear if anyone has potential solutions (possibly some kind of coordinated, anonymous multi-sig arrangements with private keys hidden in the Safe Network until they’re needed).
You will be able to send/recieve and buy goods and services with the future created Maidsafe Safecoin. On the SAFE-network you won’t need other cryptos other than Safecoin, even if it is possible. The future created Safecoin will not only be good for buying storage.
Thanks everyone for the descriptions of how it may be envisaged. I think most if not all transactions, storage or otherwise, will be better using SafeCoin. However, and perhaps controversially, perhaps there will be advantages of using non-SafeCoins for purchases of products - one strangely being that using alt-coins will be less private, and there may be occasions, when making transactions, that people choose and want to prove that they have made this transaction openly, and not fully confidentially. I appreciate that I am verging off one of the core principles of the safe network, but I think there will be occasions when people want to transact on the network where they want to show / demonstrate / prove that they have nothing to ‘hide’ or are doing nothing nefarious. Just a thought.
Because in a social media network where anyone can have as many accounts as they want, a globally recognized endorsement requires a token of some value to be permanently attached to the content in question (this is also known as “burning” a token). If the token could be taken back then there would be no cost for the endorser which would make the gesture worthless. If it would go to the recipient people could simply endorse their own content without limit.
Using SafeCoins for permanent burning seemed like a bad idea because SafeCoin is supposed to have a fixed supply, and burning SafeCoins at scale could disrupt SAFE’s farming algorithms. Back then the degree of divisibility of SafeCoin was also up in the air.
Thank you for replying, but I’m afraid I still don’t understand. I wasn’t around when PDC was launched and I hardly know anything about the project. I guess I’ll just have to read some more if I want to understand it better.
This is going a bit off topic, but has there been any development in Project Decorum? A social platform on SAFE sound like a great idea, but the site