6M USD+ have been invested in MaidSafe IPO. Yet there is so far no proper explanation of the Proof-of-Resource concept available anywhere, which would be the case if such major breakthrough was for real.
So investors basically handed away their money without much due diligence based on the sheer assumption that because the project has existed for so long and there is a lot of code, what they claim is possible has to be possible. How naive.
Topic: [MaidSafe] SafeCoin Proof-of-Resources concept: vaporware? (Read 2510 times)
http://en.wikipedia.org/wiki/MaidSafe - Wikipedia.
https://www.youtube.com/watch?v=HUHtfkvurFM - Meeting in September.
https://www.youtube.com/watch?v=wGbL_5Gsy9M - Post IPO.
https://www.youtube.com/channel/UChDck5R_C9i6XTrS66tbwOw - General Youtube.
https://github.com/dirvine David Irvines Development.
https://github.com/maidsafe - MaidSafe Developments.
https://www.youtube.com/watch?v=HUHtfkvurFM - Meeting in September.
https://www.youtube.com/watch?v=wGbL_5Gsy9M - Post IPO.
https://www.youtube.com/channel/UChDck5R_C9i6XTrS66tbwOw - General Youtube.
https://github.com/dirvine David Irvines Development.
https://github.com/maidsafe - MaidSafe Developments.
The code is available on GitHub, I believe. Could that be what you're looking for?
The whole MaidSafe/SafeCoin project relies on a concept called "Proof-of-Resources" that is supposed to prevent cheating and serve as a base to distribute incentives. This concept is central. If there is any flaw in it or worse if it is only a vaporware idea that hasn't been worked out yet and MaidSafe fails to come up with something that works, the whole project is doomed and (Maid)SafeCoins worthless. Actually, imagining that one could mathematically verify something like local resources of every node in a way that can't be cheated is downright mindboggling given the level of infrastructure and bandwidth limitations it takes for Bitcoin to merely guarantee that there is no double spend.
The claims of MaidSafe around Proof-of-Resource are extremely bold and should be taken with uncompromising skepticism until a mathematical proof is provided. Yet, I haven't seen any technical explanation of how the concept is supposed to work or any proper debate around it. MaidSafe website and posts are full of grandiose claims without the slightest element of proof or even explanation. Looks very fishy to me.
Has anyone come across something that looks like a proper explanation of Proof-of-Resource at the algorithmic or game-theory level? Please don't post again that nonsense "Why is MaidSafe secure" blog post from MaidSafe founder: this is hollow handwaving without any explanation.
(edit: title update)
The claims of MaidSafe around Proof-of-Resource are extremely bold and should be taken with uncompromising skepticism until a mathematical proof is provided. Yet, I haven't seen any technical explanation of how the concept is supposed to work or any proper debate around it. MaidSafe website and posts are full of grandiose claims without the slightest element of proof or even explanation. Looks very fishy to me.
Has anyone come across something that looks like a proper explanation of Proof-of-Resource at the algorithmic or game-theory level? Please don't post again that nonsense "Why is MaidSafe secure" blog post from MaidSafe founder: this is hollow handwaving without any explanation.
(edit: title update)
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