1.60%

Market Change

$2 243 849 580 664.90

Total Market Cap

$365 508 519 293.52

Total Volume

15008

Cryptocurrencies

60 GWEI

62 GWEI

71 GWEI

Ethereum gas price

52.40%

BTC Dominance


Siacoin (SC)
Siacoin

SC -5.74%

24h Change

$1 488 579 138.95

Market Cap

$324 789 557.76

24h Volume

$0.0316

Current Price

Tech Specs

Last historical data: 2021-01-22T08:14:02.000Z

Decimal places: 0

Algorithm: Blake2b

Prooftype: PoW

Country origin: US

Genesis date: 2015-06-06

Liquidity score: 43.029

Publi interest score: 0.013

Community score: 43.565

Developer score: 84.624

Coingecko score: 53.495

Market cap rank: 97

Coingecko rank: 41

Alexa rank: 144998

Bing matches: 0

Siacoin (SC)

Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers.

The only difference is Sia uses blockchain to facilitate transactions Nodes provide storage to clients using the Sia blockchain as contracts.

Before storing the data, the data is encrypted into many pieces and uploaded to different hosts.

Siacoin is created by David Vorick and Luke Champine of Nebulous Inc.

As the traditional storage platforms are higher in cost, more expensive and data is not well protected.

Siacoin promises to offer secured storage transactions with smart contracts which is more affordable and reliable.

Moreover, it is completely open source which means many individuals have contributed to Siacoin’s software hence there will be an active community building innovative applications on top if the Sia API.

In 2018, Siacoin aims to introduce file sharing and be the go-to cloud storage platform for companies.

Their goal is divided into 3 time frames which are short-term, medium-term and long-term development.

Short-term development focuses on file sharing between Sia users.

This allows Sia users to share files in the platform without having to take it off the cloud while increasing network utilization.

Medium-term development’s goal is to enhance partnerships.

This means reaching out to large companies like Netflix and Dropbox to hopefully be able to be their storage and distribution framework.

Lastly, long-term development aims to expand its horizon to share files with non-Sia users and support mobile wallets.

Siacoin is a blockchain based distributed storage platform.

The platform enables buying and selling of computer storage on an open and decentralized market.

The Siacoin token functions as the native currency on the platform.