Siacoin SC

$0.0201
Market Cap $ 695.283 MM
24h Volume $ 11.303 MM
Chg. 24h: 5.10%
Algo. score 3.6/5  (#105)
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Siacoin project purpose and description

Siacoin clarity of purpose

Siacoin purpose and aspects

Data storage, Distributated storage

Siacoin categories

Data 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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