Welcome to the New Safecoin

The Safecoin project and community have always been focused on putting security first to achieve real adoption in blockchain.   In fact we believe that any credible blockchain, De-Fi, dApps solution worth doing should build that solution on a secure foundation because we are ultimately dealing with digital money.   In March of 2018, a Komodo-based version of Safecoin was launched which at that time offered some of the most secure and private technology in terms of focus and innovation (ie., dPOW).     Late in 2020, we evaluated two things:

• Our Remaining Roadmap (most of it had been completed)
• The state of blockchain technology

We discovered that we had one final remaining critical item on our Roadmap, to build a secure and on-chain DEX capable of widespread adoption.    Looking across many disruptive technologies that have recently emerged, we saw an opportunity to create  a decentralized on-chain platform which functions with similar performance to a centralised exchange while providing a non-custodial and decentralised experience.   We also discovered that bitcoin itself no longer had the best finality (time required for a transaction to become irreversible) and could not compete with current technology in terms of speed, performance, and capabilities (lacking turing complete smart contracts).    As such, dPOW itself which inherits these properties from bitcoin, also became out-dated for the use cases we sought.

After months of research, development, and testing, Safecoin has Re-launched with a 1:1 fair swap to a new chain based on a Solana codebase.   Solana achieves record breaking performance through solving fundamental consensus, and thus security issues, around the concept of time in decentralized systems, through Proof of History.   It comes as no surprise to us that the world's most performant blockchain reached these achievements through solving security problems.

The result is a vastly more secure and performant blockchain:

• Sub-second finality (PoH), versus previous 10-60 minute finality (dPOW, limited to finality of bitcoin technology)
• Consensus Timestamped transactions - This solves a major barrier in decentralized systems and is part of a larger conversation.  One example of what this does is it eliminates front-running in decentralized exchanges and liquidity pools
• >100,000 TPS, versus ~15 TPS (achieved through multi-threading and many other advancements)
• Secure Rust-based code
  
• Highly performant WASM and Solidity Smartcontracts
• On-chain Tokens with an ERC20 Ethereum Bridge

We didn't just stop there.   We also improved the Solana code as well to provide a "Community Edition" of Solana more suited to worldwide adoption:

• We reduced ledger size to ~ 2 TB/Year, from Solana's ~160 TB/Year through improvements in consensus, storage, and compression
• We removed KYC gates from the Solana code as we rightly should.  No KYC is required for staking or validators or any other use of the new Safecoin blockchain
• We launched the chain on a completely fair launch proof of work store of value with no IEO, no ICO, no sales of any kind (existing Safecoin ledger)

In doing so, we believe we have introduced the world's most Performant and Decentralized Community blockchain (by making improvements in the feasibility of its decentralization).    This is our vision of what real worldwide blockchain adoption looks like.    We already have an incredible amount planned, and we are hard at work on SafeSwap, a decentralized on-chain exchange which will operate on top of the new Safecoin in the very near future.


Original Thread:  https://bitcointalk.org/index.php?topic=2838370

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Does this project continue? I see very quiet in this thread.