What is midsif? Introducing MAID digital currency
Midsafe digital currency (MAID), the native coin of the project with the same name, which aims to Internet decentralization It was launched in 2006. The developers of this project claim that the initial idea of Midsafe was conceived when there was no Bitcoin yet. The content distributed on the Midsafe network is based on a peer-to-peer (P2P) network, and we are going to talk more about Midsafe and the MAID currency in the rest of this article.
Introducing Midsafe digital currency
Midsafe currency on April 22, 2014 by David Irwin Presented in Scotland. He has previously held various positions in various companies such as Ayrsoft Ltd, Alba Networks (as CEO) and Ayrshire (as a business consultant).
Midsafe Coin using Prohibition Proof Algorithm (Similar to Bitcoin’s proof of work), is trying to maintain the infrastructure of the internet in order to reward users in exchange for using their computing power. In fact, this project wants a decentralized internet named “Network SAFE” and it does this with inactive computing power in order to perform the usual operations of internet servers. The MidSafe project can even be considered a distributed data storage and transmission system that is developed and developed with the help of its sponsors.
Currently, Midsafe digital currency is available in both Omni Layer (MAID) and Ethereum ERC-20 (eMAID) protocols.
How the SAFE network works
The SAFE network is possible by means of normal nodes whose implementation is in the hands of normal users Self-management and self-correction has As the size of the SAFE network increases, this network can do its tasks more independently. In fact, this system never stops its optimization and always encrypts.
Features of the Midsafe project
Those who are responsible for the management of the Midsafe project have created some special features for it, which we will discuss below:
1. Self encryption: The files that are placed in the Midsafe network are all encrypted and become different parts. No one can access the information of these files except their owner, and therefore their contents are unreadable for other users.
2. Decentralized system: The files that are in the Midsafe network can be stored on all devices in all parts of the world. In fact, it is not possible for files to be compromised in this network, and you are witnessing a completely safe system in Midsafe.
3. Data availability: Duplicate copies that exist in the network are always protected and not destroyed. When the users are offline, the Midsafe network takes this data to another place and therefore the data and information are preserved forever.
What are the advantages of midsafe?
In the following, we discuss some of the most important advantages of Midsafe:
- Ability to use the network anonymously
- Having strong communication against censorship
- Having serverless data
- Low and zero transaction fees
- Data driven
- high security
Midsafe digital currency wallets
If you intend to store Midsafe digital currency, for this purpose, you can get Trezor One and Trezor Model T wallets that support this digital currency. Also, currently MAID currency can be bought, sold and stored in some exchanges, among which we can mention the wallets of Bittrex, HitBTC and P2PB2B exchanges.
The future of Medsafe digital currency
Despite Midsafe’s innovations, there are still many challenges facing this project, among which we can mention encouraging the progress of the program, solving technical problems, etc. But the founder of this project, David Irwin and his team, have proven many times that they can overcome the challenges ahead. However, the Midsafe digital currency project, which has taken a step towards the decentralization of the financial system, can be called an innovation with a decentralized framework that we will probably see its growth in the future.
What is midsif writing? Introducing the MAID digital currency for the first time on the Wallex blog. appeared.