What is Safe (SAFE)?
SAFE is the native token for the Safe blockchain network. Safe aims to become the largest and most secure private digital currency application and payment platform. It can be used for making safe private payments, safely issuing and managing digital assets, and voting. Besides, it has the Safe Game application, which is a blockchain detection service that is environmentally friendly, and Safe consultation, which includes blockchain solutions for enterprises.
The Safe blockchain utilizes the Delegated Proof-of-Stake (DPoS), which is a variation of the classic Proof-of-Stake (PoS) to achieve high transaction capacity. This consensus mechanism is faster than the majority of its alternatives. Additionally, it takes little time to set up a block, which improves the network's scalability. The use of DPoS enables the Safe blockchain network to achieve its goal of green and environmental protection with less electricity and storage consumption.
The project also focuses on privacy by providing optional sender-hiding and receiver-hiding features. These features enhance the security of the platform. It also offers cross-chain bridge services that enable transaction services to happen between various blockchain networks.
Safe Network also offers an open-source and decentralized wallet, SafeWallet. The wallet supports 8 blockchains and multiple DEXs. The wallet also supports various special functions of Safe Network such as SAFE lock-up, and SAFE cross-chain.
The network is aiming to introduce other services in the future to make the ecosystem more comprehensive for cryptocurrency users. They are planning to incorporate USDT within the Safe network to enhance the decentralized exchange of USDT with SAFE tokens and other on-chain assets.
Another product planned for the future is Supernodes. This product is responsible for producing blocks, validating contracts, and instant transactions. The node operators will earn rewards for supporting the network.
Furthermore, the project will also introduce Asset Management, which will allow private assets to be issued and managed from chain cross-chain to the SAFE network, as well as assets issued by SAFE cross-chain to other chains.
Lastly, Safe also plans to introduce Safecode, which is compatible with EVM, common APIs, SDK, and various development tools.
Use Cases of SAFE Tokens
The SAFE crypto asset has various use cases. It supports payment and remittance systems on the network. You can pay for various services on the platform using SAFE. Additionally, users can earn rewards and promotion benefits via SAFE crypto.
If you plan to acquire Safe crypto assets, note that the SAFE price varies frequently. You can check out the Safe price chart above to see its current or previous value.
Who Founded Safe?
SAFE was founded by the SAFE foundation in Singapore. The development team prioritized privacy and secure payment. The project has a history of 8 years. It has gone through four major iterations: Safe 1.0, 2.0., 3.0, and 4.0, which was launched and tested in 2022. There is little information about the LINK founders and team.
Tokenomics of SAFE
The initial number of Safe coins was about 40 million on January 20, 2018. However, as of January 2023, there are 29,6 million tokens set as the total supply. The number differs because there is no max supply set and SAFE crypto is hedged against inflation by a token burn mechanism. This strategy keeps in check the number of assets in circulation, preventing the SAFE price from deteriorating.
Users can earn Safe tokens as a reward or purchase them from exchanges. The current Safe price is available on the live price chart above.
