Siacoin SC

$0.0111
Market Cap $ 397.179 MM (#35)
24h Volume $ 11.803 MM
Chg. 24h: 6.02%
Algo. score 3.7/5  (#81)
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Siacoin project purpose and description

Siacoin clarity of purpose

Siacoin purpose and aspects

Decentralized Data Storage

Siacoin additional differentiation against competition

Today, being a major cloud storage player requires having datacenters, building trust within the market, reaching customers, and competing with giants such as Amazon, Google, and Microsoft. Breaking into this market is a multi-billion dollar endeavor.   Sia changes that, by enabling small, efficient datacenters to sell their storage without market trust and without a marketing budget. Sia lowers the barrier to entry, and in doing so creates a wealth of cheap storage for its users. Anyone with an Internet connection and a cheap source of storage can make money.

Siacoin categories

Data storageDocument storage

Short description

Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.

Abstract

The authors introduce Sia, a platform for decentralized storage. Sia enables the formation of storage contracts between peers. Contracts are agreements between a storage provider and their client, defining what data will be stored and at what price. They require the storage provider to prove, at regular intervals, that they are still storing their client’s data. Contracts are stored in a blockchain, making them publicly auditable. In this respect, Sia can be viewed as a Bitcoin derivative that includes support for such contracts. Sia will initially be implemented as an altcoin, and later financially connected to Bitcoin via a two-way peg.

Link to Roadmap: https://sia.tech/roadmap https://trello.com/b/Io1dDyuI/sia-public-roadmap
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