What is Siacoin Crypto Currency?A brief description of Siacoin.
Sia is a decentralized cloud storage platform that intends to compete with existing storage solutions, at both the P2P and enterprise level. Instead of renting storage from a centralized provider, peers on Sia rent storage from each other. Sia itself stores only the storage contracts formed between parties, defining the terms of their arrangement.
The purpose of Siacoin
Data storage, Distributated storage
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.
More information can be found in the Siacoin whitepaper https://www.sia.tech/whitepaper.pdf
Other Siacoin facts
- Trading symbol: SC
- Governance: Centralized > Hierarchical
- Open source: Yes
- Product status: Fully working product
- Consensus method: Proof of work
- Emmission rate: No new tokens created
- Transactions per second: n/a
- Total Supply: N/A
- Release date: 2015-03-17
Usefull Siacoin links
- Siacoin’s Website
- Siacoin pricing data & fundamental Siacoin information
- Siacoin’s Website
- Siacoin official blog
- Siacoin’s Bitcointalk Forum
- Siacoin’s Reddit Forum
- Siacoin’s block explorer
- Siacoin’s Alexa site stats
- Siacoin’s official forum: Unfortunately we don’t have this data available.
- Siacoin’s Github code repository:
- Siacoin’s roadmap:
- Siacoin’s team page: https://www.reddit.com/r/siacoin/comments/4o1tu4/we_are_the_sia_core_team_aua/
- Siacoin’s whitepaper: https://www.sia.tech/whitepaper.pdf