Siacoin Price & Charts

Loading data ...

Siacoin News

RSS Reddit

  • WARNING - Scammer on official sia twitter tweet April 19, 2018
    submitted by /u/VoskCoin [link] [comments]
  • Help missing seed words April 19, 2018
    I wrote down my seed on some paper and split it up but I lost the last words, the ones used for the checksum. I have the first 24 words, how do I work out the checksum words? submitted by /u/Lucifer1903 [link] [comments]
  • buying siacoin directly from sia wallet? April 18, 2018
    Currently, it's is too complicated to buy siacoin for renting and hosting. I have to buy BTC, ETH, LTC or BCH from Coinbase and transfer it to Bittrex and buy siacoin and trasfer it to siawallet. Can sia dev add new feature to sia wallet for buying siacoin directly with credit card? submitted by /u/hongya81 […]
  • Fun with Sia and Docker April 18, 2018
    submitted by /u/mtlynch [link] [comments]
  • Could Sia Hosts be used to host VM's, websites or even torrents? April 18, 2018
    I know that sia is mainly going to be a direct competitor to places like Amazon or dropbox but could they also be used to host storage for VM's, torrents and websites? It would be interesting to see something like this happen because It would be huge for torrents. submitted by /u/IntelligentCollar [link] [comments]
  • Innosilicon releases Blake2b, Blake256 miners that mirror Halong offerings April 18, 2018
    submitted by /u/tracerxhi [link] [comments]
  • If I transfer 1000SC from and exchange to my personal wallet, is it considered a taxable event? April 18, 2018
    submitted by /u/q_Entropy [link] [comments]
  • Sia wallet UI April 18, 2018
    So not sure if this is a regular question people are asking or not. But does anyone else think the Sia Wallet UI is just awful. The Sia wallet is just ugly. It also kills my CPU everytime i load it just to connect to the blockchain. I mean if you want mass adoption and […]
  • How does the proof of storage work exactly? April 17, 2018
    Sia/types/filecontracts.go We can see here the FileContract struct, when a contract is created this is included in a transaction and written in the blockchain. The StorageProof struct is created and included in a transaction and submited to the blockchain for every proof of storage. What I don't undertand is the FileContractRevision, does it update the […]
  • Who is in charge of host scoring? April 17, 2018
    I mean, in this a descentralitzated enviorment each host gets a score according to many parameters such as uptime, prices, remaining storage, etc. How does Sia maintain this information? Which element of the network cares about that? Where is the information stored? submitted by /u/erbak [link] [comments]

RSS Twitter

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.
Twitter: no official handle