MAID will be feeless and instant?

MAID will be feeless and instant? Or no, thanks.

5 Likes

Maidsafe coin is the proxy token for Safe Network Token. Upon release of the network Maidsafecoin will be exchangeable for SNT which will be used as the fuel of the network.

Safe Network Token will be both feeless and and instant.

You can earn Safe Network Token by becoming a farmer. A farmer will provide hard drive space, CPU and bandwidth. When the data you hold is downloaded by users you can earn SNT.

You pay with SNT to store data on the network. Pay once for life.

The network will also Pay the Producer. This means that a percentage of all SNT are reserved for paying the producers of apps. So the more your app is used the more you will be payed. This is a paradigm shift because it allows a business model that rewards success but does not rely on mining and selling peoples personal data. IMO its a powerful idea that integrates an economic money printing idea into the network.

18 Likes

SNT already exists

Yep - I think we are going to have to find another ticker

2 Likes

I still dont understand, when network will be finish, then for example I want send maid or whatever will be called to another person or exchange, then will be feeles and instant? Thanks

Yes, no fee. Instant is little subjective but yes, imagine seconds not minutes.

1 Like

The concept is to have feeless transactions, but it is not prooven to keep spam attacks under control.

2 Likes

Remember though, the process is

  • Client gets signatures for all Elder
  • Client aggregates those
  • Client sends the xfer request (signed).

This is a wee process that is work for the client, it also prevents them sending zillions of transactions as this forces one at a time. So there is an element of spam protect.We will have to see how well it does though in practice. In any case it prevents spamming transactions at least.

15 Likes

This post was flagged by the community and is temporarily hidden.

3 Likes

I believe it’s already taken (twice)

Is it taken in the Safe network? Because if it is occupied in someone’s private database that exists today, but tomorrow this database will disappear, what do we care?


Privacy. Security. Freedom

1 Like

lets say that it will doesnt works. Is sufficient then to works with fees…? Is for example NANO currency similiar to no fee network? Because they havent fees and they has problems.

They are now trying to replace their PoW with new system.
The problem with PoW they had was in not perfect design, where after few days of 50tps the less powerfull PR nodes (the one they confirm transactions) were overflowed and the network could not reach consensus. Once some transaction was not confirmed the next following could not be neither. There is a way how to confirm all missed transactions, but because the attack last for many days, no timestamp and easy way which transaction confirm first it is slow process to choose same transactions by PR nodes at a same time to reach consensus again. Most transactions of real users are confirmed already with doing PoW again, but it is not a way for other 15M transactions mostly from the spammer.
The system can confirm few hundreds transaction for sort time, but only about 50tps for many days. This is already changed with quick update, but they are in position to choose if continue with PoW or abandon it forever.

2 Likes

This post was flagged by the community and is temporarily hidden.

If it’s a problem, perhaps we could introduce a small POW that the client must solve for each TX. This would be like Back’s original hashcash proposal to reduce email spam.

3 Likes

We have that in our resource_proof crate. So easy to test that one out.

1 Like

btw, BitMessage uses POW as an anti-spam mechanism. Here is a research paper that describes it, and proposes improvements.

1 Like

How will this pan out when some people are using low end phones and others are using 8 or 12 core computers. The effect will hardly be felt by the big computer compared to the phone if we wish to keep the process smooth for every user’s experience

1 Like