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What is Siacoin all about
Because blockchain has an element of digital storage to it, storage which can be well protected and distributed, there is a need for a solution that offers this as a service, and this is where Siacoin comes into play.
Siacoin sets out to allow any computer running it to rent out unused hard drive space to users looking to store files. It has been branded as an “AirBnB for hard drives, and takes on the idea of cloud storage, but through blockchain rather than cloud computing. Thus, rather than relying on centralized companies, like Amazon or Google, the trustless blockchain is available to manage the storage solutions.
Siacoin’s use of distributed storage is a novel one as the way in which data is stored, and secured, is by slicing files into tiny pieces, so only a small portion of each is stored on any one hard drive. The files are also encrypted, so network users can be confident their data is safe from unauthorized access.
The network holds an impressive 2 petabytes (2,256 terabytes) of space, with roughly 333 node operators actively securing the network.
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SC Questions & Answers
What is the price of Siacoin today?
Current price of Siacoin is 0.00520300 Euro.
How much did Siacoin cost at its highest?
We saw the highest spike in the price of Siacoin on 2018-01-06, at 0.07720300 Euro.
What will the Siacoin price be in 90 days?
On the basis of our short term price prediction we expect that the cost of Siacoin is likely going to reach between €0 and €0.00330132 in 3 months.
How much will Siacoin cost in 1 month time?
Using our prediction algorithm, we suspect that the cost of Siacoin will reach anywhere between €0 and €0.00330132 in 1 month time.
How popular are topics related to Siacoin on online?
51072 people were participating in discussing Siacoin on Reddit in the last 2 days. Siacoin's Twitter profile is currently followed by 146558 people.
What will Siacoin be worth in half a year?
Long term projections are very difficult, however based on our price prediction algorithm we estimate that the value of Siacoin will be between €0 and €0.00330132 six months from now.
How is the SiaCoin blockchain different?
This blockchain is not too dissimilar to Bitcoin’s, of course, the major modification is one that allows it to efficiently store and exchange files.
How does Sia keep files secure and safe?
Because the files are scattered among different nodes, no single node can access them. Even if a malicious actor somehow got the renter’s private key, all they would have is a fraction of the file stored.
How does the SiaCoin token work on Sia?
Siacoin is the currency of the Sia network and is used by renters to pay hosts in to utilize their hard drive space, and hosts are paid out only after they’ve proven they are storing the file in question.
What does Sia hope to accomplish?
Sia is taking on rather big competition in cloud storage services, but with the blockchain technology at its base, it does have a lot of efficiencies that cannot be offered without it. However, there is still a lot of growing and adoption that needs to happen.
10 days Siacoin price forecast
Long term Siacoin price prediction