Siacoin Cryptocurrency Review – the Future

Siacoin Cryptocurrency Review – the Future. Siacoin brings the blockchain technology into the cloud storage space. Instead of building massive servers that cost a lot of money to maintain, they are actually building a network of people that anyone can join and lend out their free space to others and make some money.

Sia was created by David Vorick and Luke Champine of Nebulous Inc, a VC-funded startup in Boston. The idea of Sia was originally conceived at HackMIT 2013.

Siacoin looks to disrupt the cloud-storage industry with a truly decentralized data storage option. Instead of a centralized static server address, the Sia network offers decentralized blockchain storage.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Siacoin Cryptocurrency Review – the Future

Siacoin’s wallet is the only way to store SC, and the currency is used to power transactions in the Sia ecosystem. Essentially host servers are providers and client servers are users. Users compensate hosts in Siacoin for hosting user data in a free-market crypto-economy.

There are currently more than 1.1 petabytes of storage available on the Sia network from which only 2% is currently being used. If Sia would manage to get at least a single big company on board that available space would quickly disappear, which would mean a higher demand for space, then the price of the Siacoin would skyrocket, because more people would be buying coins to be able to rent out their space.

Sia’s unique p2p storage model could disrupt the cloud industry just like the transportation industry was disrupted by ride-sharing platforms like Uber.