These Guys Are Creating A Whole New Internet Using Bitcoin And They Are Having Surprising Success (2024)

What if you were to give the internet a makeover, changing it so that it's absolutely safe from hackers and government snooping, but is still good for app developers and for sharing information?

And the MaidSafe SAFE network was born, brainchild of David Irvine (who is CEO) and Nick Lambert (COO.)

These Guys Are Creating A Whole New Internet Using Bitcoin And They Are Having Surprising Success (1)

MaidSafe

The plan is to use the existing internet but not store your data on servers in data centers such as done by Google, Yahoo, Facebook, and every other big internet company today.

Instead, everyone who joins this network would turn their PC into part of the network, allowing bits and pieces of encrypted data to be stored on all PCs.

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This is, actually, somewhat similar to how the World Wide Webwas originally designed.

Earlier this month, after eight years work on the underlying technology, the team opened things up to developers.

And 500 of them flocked to MaidSafe. That's how many have registered to create applications built for the SAFE network.

They funded their new network by selling their software, something called safecoins. They accepted bitcoins in payment and something called "mastercoin,"a "programmable money layer" that lets anyone create their own cryptocurrency.

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By their calculation, they sold $6 million worth of software in 5 hours, when converting the mastercoins and bitcoins into U.S. dollars.

These Guys Are Creating A Whole New Internet Using Bitcoin And They Are Having Surprising Success (2)

MaidSafe

Is there really that much interest in a new kind of internet?

We asked Irvine to explain:

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Business Insider: Are you trying to change the internet or build something completely separate and different?

David Irvine: We are providing the infrastructure that enables application developers to build all the applications and services that exist on the Internet today, but doing so in a way that removes the need for servers or data centers of any kind.

The servers and data centers are replaced by users' computers, which are contributing their unused resources to make up this new decentralized internet.

This change in architecture has many advantages including: Total anonymity (no ability for third parties to eavesdrop); Security (data is only ever stored or in transit as encrypted shards and only the users knows the passwords to decrypt data, plus no servers mean there is no central point to attack) and Better performance, (the network speed increases as more users join the network, popular data gets faster, rather than slower in today’s server-centric architecture);

It also gives us a web that cannot be censored by any government or third party (the SAFE network does not use DNS [Domain Name System, the system that controls website addresses and URLs).

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BI: What kinds of things can you use this new internet for?

DI: You can have every service that currently exists on the centralized internet (with servers and data centers) on the decentralized SAFE network. So you can have social networks, video sharing, file storage and sharing, websites, email, VoIP (Skype), etc., with all the advantages mentioned above.

What really excites us, though, is what can be achieved with a trust-less, server-less, autonomous global network. Services such as global federated news (where users throughout the world vote on news stories and they are read the news in their own language by an avatar) become possible. This would potentially rid the world of propaganda. Worldwide global voting systems would also be possible, enabling free elections without the possibility for corruption.

Can you explain the security part a little better? How does this work?

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DI: When a user stores files on the network, for example, the network automatically splits the file into chunks, encrypts and then obfuscates them (we call this self encryption) so all that is left is encrypted data shards.

These shards are then stored at random locations through the network by the network. There is no human involvement at any time. So no person, MaidSafe included, knows where any users data resides and we don’t know who our users are.

As users turn their computers off the data shards are constantly changing (the network automatically recreates these shards in order to maintain a minimum of 4 live copies of data at anytime). Once the network reaches critical mass, we would need to lose power to all 4 continents to have the potential to lose data.

BI: You said you sold "$6 million worth" of your software in 5 hours. Can you tell us more about that?

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DI: Yes, that is absolutely correct — we sold 10% of safecoins, the cryptocurrency of the SAFE network. The remaining 90% will be available as the network goes into beta testing around September 2014. Participants of the crowd sale contributed in cryptocurrency only, bitcoins and mastercoins.

The Mastercoin team partnered with MaidSafe on this project and the sale of the coins.

These Guys Are Creating A Whole New Internet Using Bitcoin And They Are Having Surprising Success (2024)

FAQs

Should I be worried about a sextortion email? ›

It can be worrying when you first receive a sextortion email, but please follow the appropriate steps to ignore them, and do not send money or bitcoin to the 'professional hackers'. However, there may be personal circ*mstances where sextortion can be real.

Why do I get spam emails from myself that I didn't send? ›

Email Spoofing is a type of cyberattack in which a spammer sends an email that appears to come from a legitimate email address, such as your own. The aim is to trick the recipient into thinking that the email is genuine and to click on a link or download a file, often containing malware or phishing scams.

Can you get hacked by opening an email? ›

The good news is that there's usually no harm in simply opening an email. When you open an email, your device, and the application you use to read the email will process any content it contains. It is possible for emails to contain malicious scripts which can be triggered by the simple act of opening an email.

How do hackers send emails from my account? ›

Just like you do, if a spammer gains access to the username/password of your email account, they can log in and use your email server to send emails. This is how most spam is sent. Any server can send emails and code can make the reply address say anything.

How to spot a bitcoin scammer? ›

How To Spot Cryptocurrency Scams
  1. Offers that guarantee large future gains.
  2. Offers that involve “free” money, bitcoins or tokens.
  3. Offers with time limited offers or countdown timers on them.
  4. Messages that offer you jobs or opportunities out of the blue.
  5. Deals that are too good to be true, no one gives out free money.
Feb 16, 2024

What happens if you ignore sextortion emails? ›

In some cases, ignoring sextortion may encourage the perpetrator to leave you alone and move on to another victim. But in other scenarios, the sextortionist may escalate their harassment—and in some extreme cases, release or publish the sensitive materials. Simply put: you should never ignore sextortion.

Can I stop my email from being spoofed? ›

As an ordinary user, you can stop email spoofing by choosing a secure email provider and practicing good cybersecurity hygiene: Use throwaway accounts when registering in sites. That way, your private email address won't appear in shady lists used for sending spoofed email messages in bulk.

What happens when you mark an email as not spam? ›

Check the box next to the email to select it. Click the “Not spam” button at the top of the page. This will move the email from the spam folder to your inbox. If you want to prevent this from happening in the future, you can add the sender's email address to your list of contacts.

How do I stop fake emails being sent? ›

Get Free Scam Protection
  1. How to stop spam emails.
  2. Report the email as spam.
  3. Block spam email addresses.
  4. Use an email alias.
  5. Change your email privacy settings.
  6. Unsubscribe from unwanted newsletters or mailing lists.
  7. Check if your email is on the dark web.
  8. Use a secondary email address.
Aug 31, 2022

What happens if you open a bad email? ›

If you open an email from a scammer without interacting with it, it won't infect your machine, but the scammer will be able to gather data to use for targeted cyber attacks. For example, the scammer may be able to gather your IP address, the Operating System (OS) that you use and your location.

Do spam emails know if I open them? ›

Scammers will be able to tell that you opened an email if you download any attachments or click on any links (which you should never do), or if your email client automatically loads any images that are embedded in the message.

What happens if you open a suspicious PDF? ›

In reality, the file is a form of malware, and if you agree to the update, you'll launch that malware. Once launched, it quickly scans your device, collects your sensitive information, and sends it to the cybercriminals. This malware helps the scammers start off the new year with their ideal gift—your personal data!

What is the most hacked email provider? ›

The Most Hacked Email Providers

Overview: Yahoo Mail has been one of the most targeted email providers in recent years. It experienced massive data breaches in 2013 and 2014, affecting billions of accounts.

Can someone hack my bank account with my phone number? ›

Once they gain control of the phone number, they can intercept SMS messages containing one-time passwords (OTPs) used for bank account verification. This can potentially enable unauthorized access to accounts if the bank relies solely on SMS-based 2FA (two-factor authentication).

Has a sextortion email been real? ›

Most genuine sextortion emails include real evidence. A sextortionist may attach an explicit image, video, or screenshots of your actual messages and correspondences with them. If the email lacks specific proof of the sexual incident in question, it is likely a bluff.

Do sextortion blackmailers follow through? ›

The good news is that most extortionists don't follow through and there are a few key reasons why. If a sextortionist actually publishes the images or video they lose all leverage they had. They will more than likely lose any chance they had at collecting their ransom.

Do blackmailers give up if you ignore them? ›

Blackmailers commonly give up when their victim does not respond. In most cases, it is not in their best interest to continue blackmailing you—and most are not motivated to follow through on their threats.

Should I report an extortion email? ›

Report all suspicious contacts to the Federal Trade Commission (FTC), or by calling (877) IDTHEFT. Contact your local law enforcement or Federal Bureau of Investigation (FBI) Office.

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