Siacoin (SC)
| Market Cap | $0.00000000 |
|---|---|
| Trading Volume | $8.6989 |
| Volume / Market Cap | – |
| Total Supply | 1,222,333,444 SC |
| Max Supply | 1,222,333,444 SC |
Siacoin is currently trading at $0.002587, after a price change of 3.19% in the last 24 hours.
Ranked as cryptocurrency #7305 by capitalization today, SC market cap is valued at $0.00000000. SC trading volume reached $8.6989 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on SC coin price prediction page.
What is Siacoin?
Sia is a decentralized cloud protocol where peers rent data storage to each other. The platform uses storage contracts that define the data to be stored and the price quoted by the solution provider. The terms of consensus are captured on the Sia blockchain. The contract compels the service provider to regularly send proof that they still store the data until the contracted period expires. The storage contracts are secured on a blockchain for a trustless environment.
Sia uses a multi-signature scheme to reduce complexity and attack services. The protocol also extends transactions to generate and implement the storage contracts. Contracts, proofs, and updates are the extensions used in the process. The files kept on the Sia Network are divided into 30 encrypted segments, and each part is uploaded to a distinct host for redundancy.
SC is the native token powering Sia. There are 49.67 billion SC tokens, a total supply of 49,675,042,992, and no maximum supply available. SC is used to pay for the storage solution by the clients and fixed in a smart contract by the hosts as collateral.
Sia was launched in 2015 founded by David Vorick and Luke Champine.