Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers. The only difference is Sia uses blockchain to facilitate transactions Nodes provide storage to clients using the Sia blockchain as contracts. Before storing the data, the data is encrypted into many pieces and uploaded to different hosts.
Siacoin is created by David Vorick and Luke Champine of Nebulous Inc. As the traditional storage platforms are higher in cost, more expensive and data is not well protected. Siacoin promises to offer secured storage transactions with smart contracts which is more affordable and reliable. Moreover, it is completely open source which means many individuals have contributed to Siacoin’s software hence there will be an active community building innovative applications on top if the Sia API.
In 2018, Siacoin aims to introduce file sharing and be the go-to cloud storage platform for companies. Their goal is divided into 3 time frames which are short-term, medium-term and long-term development. Short-term development focuses on file sharing between Sia users. This allows Sia users to share files in the platform without having to take it off the cloud while increasing network utilization. Medium-term development’s goal is to enhance partnerships. This means reaching out to large companies like Netflix and Dropbox to hopefully be able to be their storage and distribution framework. Lastly, long-term development aims to expand its horizon to share files with non-Sia users and support mobile wallets.
Where is Siacoin available for purchase?
You can exchange SC tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading Siacoin is Poloniex, notably the SC/USDT pair, which saw a trading volume of $ 2,74 MLN. in the past day. Additionally, HTX and Binance are popular alternatives for trading tokens.
What is the highest value Siacoin (SC) has ever reached?
Siacoin (SC) reached its peak price at 0.09286 $ on 06 January 2018, approximately 8 years ago ago. Presently, the current price is -96.52% lower than this all-time high.
What is the historical minimum price for Siacoin (SC)?
The minimum price reached for Siacoin (SC) was 0.00001262 $, documented on 28 December 2015, more than 10 years ago. In comparison, the current price is 25,445.24%, it above this historical low.
What is the fully diluted valuation of Siacoin (SC)?
The fully diluted valuation (FDV) of Siacoin (SC) stands at $ 183,66 MLN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of SC tokens. The realization of this FDV might take several years depending on the emission schedule of SC tokens.