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sIAcOIN sc cryptocurrency

An Ultimate Beginner's Guide to Siacoin (SC) Cryptocurrency. What is your opinion about the cryptocurrency Siacoin?

 

 

Siacoin (SC) is a decentralized private cloud service that delivers storage on the blockchain. Sia, as it is more commonly known, takes digital files, splits them into pieces and then encrypts and distributes them. Because the file-holders own their own keys, no third parties can access their data or control their files..

 

 



 

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Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network.

Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.

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Sia is a platform for decentralized cloud storage. By allowing the formation of storage contracts with peers, Sia permits its users to store data across a wide network of participants in a secure, private, reliable and fault-tolerant manner. Contracts define the conditions under which a storage provider keeps user data, and require the provider to periodically submit proof of storage to reassure the client that their data is in safe hands. These contracts are stored on the blockchain such that they are publicly auditable..

 

 

 



 

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