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Alpha 3 Update

MaidSafe
Alpha 3 Update

The SAFE Network is a self-configuring and autonomous network designed to manage all our data and communications without any human intervention and without intermediaries. In the past, it has been likened to a cyber brain, complex in nature and requires all component parts to all work in unison to achieve our vision of digital privacy, security and freedom for all.

No need to reinvent the wheel
It has never been our intention to invent everything ourselves, although this has quite often ended up being the case. SAFE Network features like Self Authentication, Self Encryption and Disjoint Sections are testament to that fact. However, we have always worked to reuse or repurpose existing technology if it worked well within the network design. No need to reinvent the wheel if you don’t have to!

In fact, one of the SAFE Network’s fundamental structures is Kademlia, a Distributed Hash Table (DHT) designed by Petar Maymounkov and David Mazières in 2002 that ‘specifies the structure of the network and the exchange of information through node lookups’. Our network design has required us to upgrade the original Kademlia design and introduce Disjoint Sections as mentioned above, but being able to take a design standard and repurpose it saves considerable resource and time.

In order for the network to reach an agreed state and to achieve consensus, members (nodes) of the network vote and democratically agree on a network state. These votes take the form of messages and may determine who has authority to access a file or to store a piece of data for example. Disjoint Sections requires an algorithm that asynchronously accumulates and orders the messages it receives from its members. This has been a challenging issue for our engineers to overcome and has in part required MaidSafe to release so many iterations and test networks (around 25) to this point.

Ordering algorithms
We have spent a lot of time working in this area and have looked at many state of the art ordering algorithms in addition to working on our own. We have found a few that are very promising and could be adapted and one that we feel will work well within the SAFE Network. We believe this to be significant in that it would radically simplify our code, save a lot of development time and minimise the number of future testnets. This would enable us to reach our future milestones (the next of which is Alpha 3) much more rapidly and with much greater confidence as we can focus on the network’s unique features rather than dealing with the complexity of our existing approach which requires us to handle order related issues individually.

Unfortunately the solution we have found conflicts with our own open source ethos and is in fact closed source. We are currently working on a solution to this issue and while this effort is ongoing we will respect the developers license and keep the consensus ordering mechanism closed source and in a private repository as a temporary measure to enable the rest of the team to complete the Alpha 3 features.

We will never launch the Network with code that is closed source – so please be assured this is only a staging point on the road to achieving that result. This is an area that has caused us much internal debate but ultimately we have made the decision that we feel gets us to a full release more quickly. In essence, we believe the prospect of the end result justifies the route – and as the pressure builds across society for a solution to the status quo (as evidenced by the current Facebook/Cambridge Analytica story), our role remains the same as it has ever been – to create a system that is free to everyone to use around the globe in which each individual has the opportunity to gain full control of his or her digital rights.

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Bitcoin Price Finally Recovers to $15,000, Factors For Another Surge in 2018

Subsequent to a major correction that occurred on December 17, the bitcoin price has struggled to recover to $15,000, remaining stable in the $13,000 region.

Analysts Optimistic

From December 22 to January 2, with the exception of December 27, the price of bitcoin has remained below $14,000 for nearly two weeks, sparking concerns from long-time investors and analysts.

Some cryptocurrency researchers and investors have predicted the price of bitcoin to fall below $10,000, prior to regaining momentum and surging towards $20,000 and establishing a new all-time high. While many investors have predicted the price of bitcoin to surpass $40,000 in 2018 by achieving a trillion dollar market valuation, analysts have claimed that the price of bitcoin would likely suffer a big correction before initiating a rally.

bitcoin could be at $40,000 at the end of 2018. It easily could. There’s a big wave of money coming, not just here but all around the world. What’s different about these coins than other commodities … there is no supply response here. So it’s a speculator’s dream in that as buying happens there’s no new supply response that comes up,” said Novogratz.

In late December however, Novogratz stated that he has halted his cryptocurrency hedge fund because of the market conditions. He stated that the price of bitcoin could drop to $8,000 in the short-term as a result of a major correction.

“We didn’t like market conditions and we wanted to re-evaluate what we’re doing. I look pretty smart pressing the pause button right now,” Novogratz added.

Fast forward two weeks, a major correction has not occurred and the momentum of bitcoin has started to build up with a staggering 15 percent increase in value within the past 24 hours.

Given the recent rally of bitcoin, analysts have started to express optimism towards the mid to long-term price trend of bitcoin throughout 2018. The integration of bitcoin by some of the largest financial institutions in the global market including the New York Stock Exchange (NYSE) and Chicago Board Options Exchange (Cboe) have also triggered the demand for bitcoin from investors in the traditional market.

Most recently, billionaire entrepreneur and investor Peter Thiel invested a massive amount of money in bitcoin, demonstrating his confidence over the entire market entering 2018.

Potential Factors For Surge

Analysts are particularly optimistic in regard to the filing for six bitcoin exchange-traded funds (ETFs) by NYSE and Cboe, as the introduction of ETFs will further increase the liquidity of bitcoin especially for accredited investors in the traditional finance sector.

Despite its recent price slump, investment in bitcoin by key players within the finance sector such as Peter Thiel demonstrate that the cryptocurrency has the potential to increase by large margins throughout 2018, especially if it can improve in terms of scalability and market infrastructure.

The post Bitcoin Price Finally Recovers to $15,000, Factors For Another Surge in 2018 appeared first on NewsBTC.

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