Before Buying Siacoin, WATCH THIS ! SC Token 2021 Target Price Prediction

Sia is a decentralized cloud storage platform similar to well-known centralized storage providers, but the storage space that is rented is provided by a network of peers, rather than a centralized entity. Sia uses smart contracts on the blockchain to set up transactions between nodes (or storage providers) and their customers. Before data is stored, the data is encrypted and uploaded to different hosts.

The creators of Siacoin are David Vorick and Luke Champine of Nebulous Inc. The long-term goal of the Sia Storage Platform is for Sia to become the main storage layer of the Internet.

The founders of the Sia network believe that individuals and institutions should not be indebted to large corporations. Sia is designed to promote and protect the freedom of the users.

Siacoin offers data storage that is cheaper and more reliable than centralized data providers.
The code for the Sia network is completely open source and many people have contributed to Siacoin's software.

Siacoin has a development plan over three phases. First, they want to focus on sharing files between Sia users, allowing Sia users to share files on the platform without having to remove it from the cloud, while increasing network utilization. Second, they want to improve partnerships, reaching large companies, like Netflix and Dropbox to become their storage and distribution framework. The ultimate and long-term goal is to broaden the horizon to share files with non-Sia users and support mobile wallets.

Siacoin is a utility cryptocurrency that is used by both users and decentralized storage hosts. Users buy storage capacity from hosts, using Siacoin and hosts pay Siacoin into any file contract as collateral.

The advantages of the Sia network are that it is more secure than traditional file storage systems (like Amazon or Netflix) as the data is automatically encrypted before being uploaded to the network. The data is spread across multiple hosts so no single entity can be a point of failure.

When data is uploaded, it is split into 30 segments and each of these segments is split to a different host. Using a technology called Reed-Solomon erasure coding, files are split redundantly, and just 10 of these 30 segments can be used to fully recover a user's files.

The Sia blockchain enables this to be a marketplace for data storage that is established and without an intermediary or central authority. On the Sia network, no person or organization can censor or deny access to data, not miners, not developers, not any government.

source: ➡️ https://www.coingecko.com/en/coins/siacoin
source: ➡️ https://sia.tech/

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🔥 FINANCIALS
Total Market Capitalisation: $ 394M
24 Hour Trading Volume: $ 83M
Circulating Supply: 49.9B
Total Supply: ∞

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🔥 TIMESTAMPS
Intro 00:00
Chart 00:15
Financials 00:39
Technology 00:53
Vision 01:15
Technology Continued 01:49
Pricing & Cost 02:47
Siacoin Uses 03:27
Smart Contracts 03:45
Price Prediction 04:10
News 04:35
Support The Channel 04:53

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DISCLAIMER:
I am not a financial adviser and my opinions are entirely my own. One should evaluate their options and inform themselves prior to investing in any market, and should only invest after discussion with their financial adviser. I am not a financial adviser and my statements should not be taken as financial advice.

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