Siacoin (SC)

by research goldshell   December 2, 2022   REPORT

66 | A Marketplace for Decentralized Cloud Storage.

Sia aims to offer a decentralized cloud storage infrastructure. Sia connects users who need file storage to a distributed global network of hosts, willing to offer under-utilized hard-drive capacity.

The Sia blockchain allows this marketplace to run without intermediaries. Sia secures the storage transactions with a set of smart contracts, creating a (supposedly) more reliable and affordable offering when compared to traditional cloud providers.

The Sia network runs on a Proof-of-Work (PoW) consensus algorithm.

The SC token is used to pay for storage services offered on the platform.

As at Oct 31th 2022, the total and maximum token supply of SC is 51,477,015,000 The current circulating supply is ∞.


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