Siacoin[SC]
Siacoin is a decentralized blockchain-based cloud storage platform.
Siacoin is a decentralized blockchain-based platform developed by David Vorick and Luke Champine in 2015, aimed at providing secure and cost-effective cloud storage. Unlike centralized services like Google or Amazon, Sia offers a decentralized alternative that empowers users with greater control over their data. The project is backed by billionaire investor Jim Pallotta, and its name, "Sia," is inspired by the ancient Egyptian god of perception.
Sia operates on a global decentralized network, enabling users to securely store data across multiple hosts worldwide. This decentralized model not only reduces storage costs but also enhances privacy, making it an attractive alternative to traditional cloud storage providers. By distributing data across various hosts, Sia ensures that user data is less vulnerable to centralized failures or breaches.
At the core of Sia’s functionality are smart contracts, known as file contracts, which manage the storage agreements between users and hosts. These contracts, typically set for 90 days, require hosts to prove that they are actively storing the data through a mechanism called Proof-of-Storage (PoS). When hosts successfully verify the storage of data, they are rewarded with Siacoins, creating an incentive-driven ecosystem.
Sia operates on a global decentralized network, enabling users to securely store data across multiple hosts worldwide. This decentralized model not only reduces storage costs but also enhances privacy, making it an attractive alternative to traditional cloud storage providers. By distributing data across various hosts, Sia ensures that user data is less vulnerable to centralized failures or breaches.
At the core of Sia’s functionality are smart contracts, known as file contracts, which manage the storage agreements between users and hosts. These contracts, typically set for 90 days, require hosts to prove that they are actively storing the data through a mechanism called Proof-of-Storage (PoS). When hosts successfully verify the storage of data, they are rewarded with Siacoins, creating an incentive-driven ecosystem.
Data ServiceCloud ServicesDePINProof Of Work (PoW)
Current price
24h:10.03%Market cap
Trading volume 24h
Fully diluted market cap
All time high price
93.84%All time low price
45,233.17%Token supply
0 SC (0%)
57.77B SC (100%)
$0
$0.0057
$0
$329.49M
57.74B SC (99.95%)