Today we will talk about what Siacoin (SC) is, what is Siacoin good for, why the Siacoin project came out, how to load Siacoin, how to get Siacoin, the Siacoin project, Sia-based applications, Siacoin mining, and the features of Siacoin.
Today we will talk about what Siacoin (SC) is, what is Siacoin good for, why the Siacoin project came out, how to load Siacoin, how to get Siacoin, the Siacoin project, Sia-based applications, Siacoin mining, and the features of Siacoin.
Siacoin is the currency of the Sia project, the decentralized cloud storage platform. The aim of the Sia project is to make the data storage market more efficient and more affordable by using blockchain technology.
The Siacoin project was launched due to potential security vulnerabilities, storage issues and high costs in companies providing cloud storage services. It became the center of attention in the international arena, especially considering the storage costs and security problems.
Unlike traditional cloud-based service providers, Siacoin encrypts and distributes your data across the entire network. Thus, the control of your data is in your hands from companies and third parties. Also, since you are in control of all private keys in your possession, any third party cannot access your data without your consent.
Sia platform is 90% cheaper when compared to known cloud storage platforms. For example, 1TB of data storage in Amazon S3 costs $23 per month, while you can store the same size of data in Sia for 1-2 dollars per month. Especially when compared to the crashes and vulnerabilities of traditional cloud-based services, Sia's efficient and secure storage services allow many people to use it in decentralized data storage projects.
Compared to traditional cloud storage services, Sia platform backs up your data and sends your data to different storage points around the world. Thus, the system does not crash from a single point and your uptime increases significantly.
Generally, companies that offer cloud-based storage services do not reveal their codes to anyone. But Siacoin's software, like other blockchain projects, is open-source platforms for everyone to see. In this way, many software developers can offer more effective and innovative solutions to the community through the Sia API.
You can access the data storage market using the Sia blockchain platform. Data storers in this market try to offer the lowest price they can give to store your data. You pay your monthly fees in Siacoin. Finally, Siacoins can be mined and you can trade with your Siacoins in different areas.
Siacoin's platform, Sia, can be easily downloaded from the internet, unlike most blockchain projects. In short, you can go to the website of the Sia platform and install the version you want according to the operating system on your computer, in the download now option. If you want to install the developer version, you need to install Sia UI first and then Sia Daemon.
The Sia platform supports the media platform SiaStream and the Free Internet Foundation's Skynet platforms. As the media service owned by the Sia platform, SiaStream charges a monthly fee for the data you store. Compared to apps like Netflix and Amazon Prime, your data is completely under your control and all services are much cheaper for you.
Siacoin can be purchased either from the platform itself or from listed exchanges in exchange for certain means of exchange. If you want to buy from the platform, you will be subjected to a simple but lengthy verification process. If you are going to buy from the stock market, you can trade from popular exchanges such as Binance, HitBTC, Kraken and Huobi Global.
Two different pools are used for mining Siacoin. These are divided into Luxor and SiaMining. While SiaMining is the first and largest mining pool for Siacoin, you can hold all the Siacoins you produce. But if you mine in Luxor, some of your profits go to the developers of the Sia platform as a reward.
