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SC Price
$0.00695
-0.99%
Market Cap
$396M
24H Volume
$14.96M
Circ Supply
56.99B

SC Market Stats

  • Price $0.00695
  • 1H Change +0.08%
  • 24H Change -0.99%
  • 7 Day Change -17.45%
  • 30 Day Change -23.33%
  • 1 Year Change +81.41%
  • All-Time High $0.11171
  • % From ATH -93.77%
  • ATH Date Jan 6, 2018
  • Launch Date May 14, 2015

Siacoin Info

Sia is a decentralized data storage platform that revolutionizes cloud storage by creating a trustless marketplace for direct transactions between buyers and sellers. Here is a concise description of Sia with subheadings:

Overview:

Sia, pronounced as “sigh-uh,” leverages cryptography to establish a trustless cloud storage ecosystem, enabling secure interactions between parties without intermediaries, borders, vendor lock-in, or surveillance. It aims to restore the original ethos of the Internet.

Functionality:

  • Decentralized Storage: Sia operates on a decentralized network where files are encrypted, fragmented, and distributed across nodes globally, ensuring high uptime and eliminating single points of failure.
  • Data Ownership: Users retain full control and ownership of their data, as no third party can access or restrict access to stored files.
  • Cost-Efficiency: Sia offers significantly lower storage costs compared to traditional cloud providers, with storing 1 TB of data costing around $1-2 per month, a fraction of the cost of mainstream services like Amazon S3.

Features:

  • Open Source: Sia’s software is entirely open source, attracting contributions from top software engineers and fostering a vibrant community of developers and businesses.
  • SiaShare: An encrypted file-sharing software utilizing Sia’s decentralized storage network for secure file storage and sharing.
  • S3 Compatibility: Works seamlessly with Sia and any S3-compatible storage provider, enhancing flexibility and interoperability.

Community and Development:

  • Foundation: Sia is maintained by the Sia Foundation, welcoming global contributors through its Grants program to enhance the platform.
  • Ecosystem: It thrives on a diverse ecosystem of data storage enthusiasts, open-source software, and commercial storage platforms, fostering innovation and growth.

In essence, Sia represents a cutting-edge solution in cloud storage, offering privacy, security, cost-effectiveness, and decentralization to users seeking a modern and efficient data storage alternative. For more detailed information, you can visit Sia’s official website.

Siacoin Technical Info

  • Blockchain Own Blockchain
  • Consensus Proof of Work (PoW)
  • Block Time 10 minutes
  • Hash Algorithm Blake2b
  • Org. Structure Centralized
  • Development Status Working product
  • Open Source Yes

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All images, branding and wording is copyright of Siacoin. All content on this page is used for informational purposes only. CryptoSlate has no affiliation or relationship with the coins, projects or people mentioned on this page. Data is provided by CoinMarketCap and TradingView.