There have not been much mention of the SAFE Network on this blog. Even though the safecoin was one of the primary cryptocurrencies I would have liked to focus on throughout the website, I have decided not to write much about it. It is likely because there is not much going around with safecoin these days. Yet, I have now decided to focus about one tiny aspect of SAFE Network that is worthy of noting. It concerns the SAFE Exchange Coin, which was supposed to run on the SAFE Network and serve as a decentralized exchange of assets within the network.
According to the latest proposal (whose voting ends November 5th), the SAFE Exchange protocol would run on a different blockchain, if the proposal gets accepted. This means that the SAFE Exchange would not depend on the SAFE Network and would run independently from the SAFE Network blockchain. Voting could be performed by SAFE Exchange Coin holders who hold their own private keys.
SAFE Exchange’s functioning on a new network could be good news, because the SAFE Network has been in development for years, with very little work done to produce actual results. It still does not seem that the SAFE Network is fully functional and out of beta. Perhaps the SAFE Exchange’s new network would result in a stable blockchain which fulfills the description of what the SAFE Exchange Coin is about based on the whitepaper of this coin. The implementation of a new blockchain does carry its own risks, as it is not too clear yet how the new blockchain would utilize the safecoin elements in its exchange of the SAFE assets once available. Yet, there is still reward if the new blockchain would meet the expectancy of the SAFE Exchange success.