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Siacoin News

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  • A Mining Monopoly and Siacoin Battle! August 16, 2018
    submitted by /u/luckyslow [link] [comments]
  • Siacoins disappeared in Sia-UI/correct address not showing up. Help! August 15, 2018
    Hey guys, a while ago I lost all of my siacoins. If anyone could help me I would greatly appreciate it. a little backstory: last transaction was made in December of 2017 Had some problems signing into Sia, was not able to sign in and access it until July of 2018(was able to sign in […]
  • Coindesk: Coders Renew Efforts to Fork Mining Giant Bitmain Off Siacoin Blockchain August 14, 2018
    submitted by /u/in-cred-u-lous [link] [comments]
  • Hyperspace Airdrop? August 14, 2018
    Hey Guys, not sure if many people remember about the Hyperspace airdrop that was announced a month or 2 ago (not by the Sia team), just checking to see if anybody actually received any coins from it? Link for reference submitted by /u/HiHoeMan [link] [comments]
  • Sia featured on Thriller Crypto August 14, 2018
    submitted by /u/ThrillerPodcast [link] [comments]
  • [Video] Sia Weekly Update - Week of August 5 August 13, 2018
    submitted by /u/sia-steve [link] [comments]
  • StoragePedia: An Encyclopedia of 5 Blockchain Storage Platform August 13, 2018
    An In-depth Comparison of all major Distributed Storage Platforms submitted by /u/vasa_develop [link] [comments]
  • Sia should really focus on some media advertising !!! August 13, 2018
    Im a media director of few bussineses and i love siacoin and everything ! But guys u got some mistakes on media that u can improve with really low budget . Im willing to help ! free just to contribute this is really the future world guys ! just cmooooooon !!!! submitted by /u/2easy4mee [link] […]
  • 8/12/18 Development update for week of 8/5/18 August 13, 2018
    Courtesy of /u/tbenz9. 1 Nebulous repositories were updated. 0 issues were created, 1 was closed. 0 PRs were merged. GitLab user ChrisSchinnerl had code contributions into a Nebulous repository this week in support of the new Sia file format expected in version 1.4.0. All members of the Sia team have spent the last week assisting […]
  • Sia API for file sharing website or uploader August 12, 2018
    i have a question about your file sharing using sia hosting or sia API, i'm really stuck with this, can you help me because this project will be amazing but i'm stuck at this, it's similar file sharing too, Sia APi is really difficult for me. cause i'm plan to using 1000T for my company […]

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What Is Siacoin ?

SIACOIN is a decentralized cloud storage platform that is built using the blockchain technology. It hopes to change the game for the big cloud storage companies like Amazon, Google and Microsoft. It’s basic working principle is that whenever a user plugs in and wants to store certain files on the cloud, the file is divided into many tiny bits, then these tiny pieces are multiplied, encrypted and sent across its network to be stored  over dozens of nodes.

SIACOIN aims that with its entry into the Cloud Storage industry, we will see prices for cloud storage slashed to a fraction for the user. An example being that storage on the big cloud storage providers costs $10 to store 1TB while on the SIACOIN network that will only cost $2!

SIACOIN is a product of Nebulous Inc from Boston, led by David Vrick and Luke Champine

Practical Uses
SIACOIN’s only use is in the practical realm of things, being the liberalization of cloud storage. With SIACOIN, a user stands to gain many benefits to their cloud storage experience among which are:
 Affordability: Prices of using cloud storage will crash with SIACOIN. This is only possible because instead of chunking up a file at a single storage facility, SIACOIN will chop it to pieces, multiply it and send the very tiny encrypted pieces of it to its miners and individual storage providers.
 Privacy: With SIACOIN the user’s file are only accessible to them alone and not anyone else! Unlike the traditional cloud storage companies where your file is open and at their mercy. After being encrypted and sent on the cloud, the user is the only person that has the key to recall their file, reassemble it and decrypt it for use.
 Uninterrupted Access: The fact that the file is multiplied and sent over dozens of nodes means that the user has several backups instead of just one. Downtime is extremely unlikely unless the whole network is shut down which is virtually impossible due its decentralized nature. Therefore the user has uninterrupted continuous access to their file whenever the need arises.

There are presently just over 26 Billion SIACOINs mined with a total of 48 billion expected to be the maximum cap for the cryptocurrency. SIACOIN is mined using industry standard ASIC miners that are used in mining other cryptocurrencies as Bitcoin and Ethereum. The mining is veered towards SIACOIN though the use of software that is available on their site for download.

Notes for Investors
SIACOIN is one of the cryptocurrencies with very real world applications and aims to serve a very real need for cheaper and more private cloud storage. Both its attractive prices and high encryption will likely win it a large following. However, it remains to be seen if there will be further blockchain start-ups pursuing the same industry. SIACOIN looks set to become one of the key players before any competitors begin to emerge.
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