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  • Malicious Traffic from following process is blocked C2/Generic-A February 20, 2019
    Got this while syncing SIA-UI, and it sure doesn't make me feel secure to continue using this SIA-UI, which BTW is sycing since 4 days already and still not finished!! The destination folder was app/Sia/siad Do i have to worry about remote server control or malware?? submitted by /u/samideluxe89 [link] [comments]
  • Using SC to sell files February 18, 2019
    I don't seem to find anything on that but I'm interested. What about the option to make files available when spending SC on that. For example: I create wallpapers and offer some for a little amount of money as kind of a option to donate. Yet I need a cheap way to store the files, […]
  • Sia Weekly Update – Week of February 10th February 18, 2019
    submitted by /u/sia-steve [link] [comments]
  • Sia 1.3.7 Install Error on MacBook Pro February 17, 2019
    When I try to install 1.3.7 Sia on my MacBook Pro I get an Error: ​ unexpected fault address 0x28ab14008 ​ Quite a bit of code follows this but I think this is the just of the error. Has anyone experienced this? I have searched the threads in r/siacoin with no luck. submitted by /u/nikkyflipps […]
  • Development update for the week of February 10th February 17, 2019
    File repairs MSevey added several MRs related to the file repair process and the detection of their health: * An overall cleanup of the code (link) * The new index of file health created for 1.4.0 is now presented through the API and siac * Multiple bug corrections: ignoring deleted files and correcting the timestamp […]
  • Sia VS Storj VS Filecoin, anyone mind going through the differences? February 16, 2019
    ​ How is the tokenomics working? Can you use the service without downloading an .exe to your computer? What are the current capabilities in term of total space for the whole network? Average price for storage per GB? Number of average daily users? If you do not have answer to these specific questions and have […]
  • Using Sia to store Photo Library February 15, 2019
    Hello r/Siacoin, I initially got involved in this community early last year looking for a solution to store about 1 TB of photos in an efficient way. Sia as a platform grabbed my attention. However after some good efforts getting file sizes to where they should be and the uploads started I was unsuccessful due […]
  • Current Sia Network Security Situation February 15, 2019
    submitted by /u/cryptomic [link] [comments]
  • How to do incremental backup? February 15, 2019
    I currently use Borg backup to do incremental and deduplicated backups. I also used to replicate the backups to CrashPlan before the service ends up. Now, I think Sia could be a very interesting solution for off-site backup. After some tests, I am wondering if there is any solution (eventually interfaced with another software) to […]
  • PPIO Testnet Release | PPIO CLI/SDK, Demo DApp now available to download February 15, 2019
    submitted by /u/Fujima4Kenji [link] [comments]

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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