What is Siacoin (SC)?

Siacoin (SC)

Siacoin (SC) is the blockchain based, decentralized private cloud service running on blockchain technology. Sia storage platform uses underused hard drive capacities connected to each other to create a marketplace that is more reliable and accessible at a lesser cost than traditional cloud storage providers. SC will be used to pay for cloud storage also there would not be a single point of failure and therefore the uptime will be maximized. The decentralized cloud storage is expected to be cheaper than cloud service providers such as Amazon S3.

Siacoin (SC) takes digital files, splits them into pieces and then encrypts and distributes them the file-holders own their own keys, no third parties can access their data or control their files. Sia, as a concept, was first dreamt up at HackMIT, an annual student-run hackathon, back in 2013 and was officially launched in June of 2015; it is now backed by Boston-based firm Nebulous Inc, whose self-proclaimed mantra is: ‘Re-decentralizing the Internet’




Siacoin (SC)

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