What is a Safe Exchange Coin?
Safe Exchange Coin (SAFEX) provides a marketplace that allows its users to buy and sell goods and services. The platform allows users to take advantage of a full suite of anonymous systems associated with the blockchain that the company calls “Chille”.
The goal of the project is to provide a platform that protects citizens’ rights from criminals and over-zealous states that spy on their citizens. This system is designed with simplicity and accessibility. The project asks the community to join as volunteers, developers, investors and followers to create a new paradigm for the internet and the commerce that takes place on it.
About the Project
The project team is regularly active in Slack, but it is a very new community with only 131 members. The team members are very active in the Bitcointalk forum, but not many people outside of SAFEX know about the project.
Several developers work in the background on the development of the front and back ends. One of the developers is Daniel Dabek from the MAID team. The SAFEX team publish weekly updates on their progress and promotional materials.
The Safe Exchange Coin
SafeExchangeCoin is another type of digital currency. It is not based on PoW or PoS. It’s more like investing in a stock and expecting dividends. Instead of refining block rewards, SAFEX’s owners can expect a percentage of the transaction fees generated by their own blockchain called Chille.
Chille will be a decentralized marketplace. The parallel work on the Chille blockchain has already been carried out. Although few people know about Safex, it has received good reviews due to its core team and development activities. Users get prompt answers to questions and nothing but professional enthusiasm can be seen from the project team.
If you look behind the scenes on your average low cap crypto project, you’ll find little or no access to the core team, no development updates, a few detailed roadmaps and usually just one developer. A look behind the scenes of Safe Exchange Coin is another story.
The core team is led by David Dabek, an experienced blockchain developer from the MAID core team. Each week, the team delivers development updates. The roadmaps for Safe Exchange Coin and Chille show in detail what has been achieved, what is being developed and what the future holds.
It’s obvious that Daniel knows what he’s doing and what investors want. His experience sets this project apart from the other small-cap currencies.
If users hold the Safe Exchange Coin and the coins are minted or embossed, SAFEX owners will automatically receive a first share of the Chille blockchain, so users will tend to keep the coins to get these bonuses.
There are over 2 billion coins so you should not expect the price to ever reach 50k sats, but coins with similar counts can reach 500 sats or even higher, as in the case of BitShares (BTS). Do some research and if you can get started for a reasonable price, many consider this a good opportunity.
Possibilities of the Token
Safe Exchange Cointokens provide a way of subscribing to the blockchain network. Any user activities that are intended to be permanent and are linked to a digital pseudonym or suchlike must be licensed through the use of the SAFEX tokens.
There are 2,147,483,647 SAFEX tokens that serve SAFEX as important utilities. At this time (January 2018), the SAFEX tokens will exist on the Bitcoin blockchain, but they will migrate to their own blockchain during the launch phase of the SAFEX blockchain.
About the SAFEX Tokens that Currently Exist on the Bitcoin Blockchain
The origins of the SAFEX project began with the token being instantiated and traded on the Bitcoin blockchain. The token follows the Omni protocol and is identified by the #56 in the series of assets and its name is Safe Exchange Coin. The initialization of the SAFEX blockchain allows Safe Exchange Coin holders to transfer their Bitcoin-based tokens to the SAFEX blockchain.
Only SAFEX tokens that have been transferred to the SAFEX blockchain have the right to mine and set up accounts.
Migration From the Bitcoin Blockchain
The migration of SAFEX from the Bitcoin blockchain marks the launch of the SAFEX blockchain. All SAFEX tokens on the Bitcoin blockchain are routed through a one-way burn function and credited to the SAFEX blockchain.
They will exist forever on the newly-established SAFEX blockchain. SAFEX tokens are used to set up accounts in the SAFEX network and are required to create a profile on the network via a pseudonym.
This can be used to create brand recognition to maintain a consistent identity. This identity would be useful in establishing a reputation and to find a particular user on the network for an interaction.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.