secure: everything is encrypted, both in storage and flight
private: you leave no traces
It covers:
storage
communication
possibly: computing (later)
It’s both:
a platform:
a program (the vault) running on your computer
a set of protocols by which nodes on the network discover each other, communicate, agree on what’s true and what’s accepted, etc
a framework: an open API to build apps that use the platform
It also includes a currency:
it can facilitate arbitrary payments:
private: no chain of transactions; you only know who paid you, not who paid them
real-time: no “confirmations,” just an atomic transfer of ownership
scalable: there’s no global limit on transactions per second (e.g. implied by the size and frequency of blocks on a blockchain, which limits bitcoin transactions to about 7/s currently)
it incentivises good behavior (e.g. providing consistent storage capacity) through “farming” (proof of resource)
it discourages the abuse of resources, because things cost money (the less the free space, the more it costs)
In short, it’s pretty comprehensive compared to anything else currently out there.