Name: Siacoin [SC] - The First Decentralized Storage Platform
Price Info - https://www.coinmarketcap.com/currencies/siacoin/
Siacoin is billed as 'your decentralized cloud', this coin makes a good use case for the idea of the service of decentralized storage. There are many issues with delivery of any form of blockchain storage, not the least of which is availability, unlike with a centralized cloud company.
Siacoin is a decentralized storage platform that is secured with smart contracts. The Sia Platform uses underutilized hard drive capacity for those who want to rent that space to store their data. It is more reliable because it is not centralized, and it’s rentable at a lower cost than traditional cloud storage providers.
Sia is reinventing cloud storage. Our technology connects users who need file storage with hosts worldwide offering underutilized hard drive capacity. Blockchain technology secures their data and enables improved economics for users and hosts.
The Sia blockchain allows this marketplace to run without an intermediary. Sia secures storage transactions with smart contracts, creating a more reliable and affordable offering when compared to traditional cloud providers. No one person or organization can censor or deny access to data—not miners, not developers, nor any government. We believe Sia’s distributed, decentralized storage technology is stronger, more secure, more efficient, and more equitable for the entire ecosystem.
Sia believe that neither individuals nor institutions should be beholden to large corporations. Sia was created to promote and safeguard users’ freedoms. It’s our attempt to bring decentralized storage built on blockchain technology to the mainstream without sacrificing price or performance.
Sia's long term goal is for Sia to become the backbone storage layer of the Internet.
Nebulous, Inc. was established in 2014 and launched the Sia Storage Platform in 2015. Based in Boston, Nebulous is funded by Raptor Group, First Star Ventures, Fenbushi Capital and INBlockchain.
1. David Vorick - CEO, Cofounder, Core Developer.
2. Luke Champine - Cofounder, Core Developer
3. Chris Schinnerl - Core Developer
4. Zach Herbert - VP of Operations
5. Steve Funk - Head of Support
On block 139,000 in January 2018, SiaCoin hardforked to fix the new difficulty algorithm, lending it more speed, scalability, and stability.
Siacoin is currently working on adding the ability to recover files using only your wallet seed, the ability to share files (P2P) with other Sia Platform users as well as enhancing their UI (user interface) to make the platform easier and more accessible to the average person
For Q1 2018, Some features to be released includes: Faster File contracts upgrade, recover files using only wallet seed, and sharing files with other Sia users.
Blockchain technology is demanding new, innovative business models. When designing the Sia network, Sia worked to ensure that incentives are focused on long-term product development and growth.
This effort led them to build two complementary cryptocurrencies: Siacoin and Siafunds. Siacoin is a utility token that allows users to buy and sell storage space on the Sia network. It was never used for fundraising, and is mined via proof-of-work on ASICs to ensure security and decentralization.
Siafunds pay out a real-time transaction fee from all storage-related payments on the network. This means that, if you hold one of the 10,000 Siafunds in existence, you receive a piece of this transaction fee as users pay for storage space.
Because Siafunds only generate revenue when users pay for storage, holders are incentivized to take a long-term view and directly contribute to product development and growth.
Up to 750 Siafunds were made available to qualified investors through a modified Dutch auction, which took place in March 2018.
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