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  • Sia, Hyperspace, Sia Classic, and Sia Prime - a "Who's Who?" of forks ahead of 10/31/18 October 17, 2018
    Disclaimer: I own Obelisk SC1 units and stand to profit financially from Sia's upcoming mining algo change. I received a portion of Hyperspace's 'community contributors' airdrop. I operate a mining pool for Hyperspace, and intend to launch a mining pool for Sia Prime. I benefit or expect to benefit financially from pool operation. I hold […]
  • Withdrew from Polo, nothing on the new SIA txid, nothing October 17, 2018
    Hey guys, so I did x2 test withdrawals from Polo using the new SIA UI and used my old wallet and whatnot, proceeded to do so and then nothing, when to explore.sia to see the address or the txid and found nothing. What did I do wrong?? Also can u erase the saved wallet address […]
  • Everything you need to know about the upcoming fork October 17, 2018
    Hey guys! There's been a lot of info around our upcoming fork, and I wanted to get it all in one place for everyone. The following links cover the reasons behind the fork, what exactly you need to do to be ready, and other info provided over the course of the past two weeks. The […]
  • Two weeks ago I posted the miners would come together to form Siacoin Classic and was downvoted to hell. Three days ago it was what’s next...? October 17, 2018
    A 51% attack on the new Siacoin chain is inevitable post hard fork as miners have more resources than the Sia/obelisk/nebulous dev team...which should terrify the renters and hosters. This will justify the reversion to Siacoin Classic. submitted by /u/MorrisMustang [link] [comments]
  • Online wallet October 17, 2018
    Hi there. Is there any secure online wallet? Thank you submitted by /u/cryptog [link] [comments]
  • SIA Fork October 17, 2018
    Hi all, What's the fork? Is this will affect the stored coins in the exchanges? What should i do to avoid loosing my coins? submitted by /u/moadrahal [link] [comments]
  • Sia v1.3.6 is ready! Download now. October 16, 2018
    Sia v1.3.6 has been released. This release contains a hardfork which activates on October 31st, just a few weeks away. All users who want to stay on the Sia network need to upgrade prior to the hardfork date. All major exchanges will be participating in the hardfork. This hardfork rejects the Bitmain and Innosilicon hardware, […]
  • [Video] Sia Weekly Update – Week of October 7 October 15, 2018
    submitted by /u/sia-steve [link] [comments]
  • Announcing SiaPrime - A Sia fork open to all blake(2b) ASICs with a focus on 2nd layer/marketing October 15, 2018
    This post represents a further chapter in wrestling with the role and impact of ASICs on the Sia protocol/platform. These issues began in mid-2017 and continue to impact the project and community. The core development team made a decision to favor a specific ASIC based on decentralization due to diverse sales across a large number […]
  • I left storj for similar reasons October 14, 2018
    When storj and sia first came out I was heavily interested in both. I thought they were such great projects I left storj after it was clear the devs were only after money. They stopped working on decentralization and the network became increasingly centralized. They kept promising they would decentralize it “later”. In the meantime, […]

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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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