SIAcoin (SC)

An interesting newcomer to the blockchain and decentralized currency system is SIA. SIA has created a sharing economy platform, allowing users to rent out their unused hard drive storage, and enabling those hard drives as the cloud-based exchange network. SIAcoin is the currency of the SIA network, and renters pay hosts in exchange for storage.

SIAcoin (SC) To USD | SC Conversion Calculator

What is SIAcoin (SC)?

SIA’s system allows users to designate unused hard drive storage as nodes within a decentralized blockchain. SIA actually splits all data accumulated across the “rented” user devices, preventing any single hard drive from holding all of your data. User data is instead split into 30 pieces, each of which is encrypted and distributed to different hosts. This creates a helpful failsafe where if one hard drive fails, the stored data is not compromised. Uniquely, the user who interacts with Siacoin holds a private key, ensuring that they maintain full ownership of their files.

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About SIAcoin (SC)

SIA’s main strength is its distinction from traditional cloud-based storage groups where centralized cloud servers are vulnerable to hacking. SIA’s unique system of a global user-based blockchain is a much stronger preventative for data loss. Siacoin is also an excellent choice for entrepreneurially minded users. Users themselves determine the price for renting out their unused hard drives, thus creating a miniature economic climate that ensures competitive prices and affordable rates.