Siacoin (SC)

$0.001549 (3.24%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
71 $64,793,900.00 $1,613,150.00 41,817,000,000 SC 30 3.24% 2.32% -$0.05

Exchange Pair Volume (24h) Price
Bittrex SC/BTC 12,266.98 0.0000002100
Poloniex SC/BTC 14,683.40 0.0000002000
Kraken SC/EUR 11,999.11 0.0014000000
Upbit SC/KRW 20,643.00 1.9500000000
Binance SC/ETH 14,605.17 0.0000102000
Kraken SC/XBT 6,228.60 0.0000002060
Bittrex SC/ETH 6,572.21 0.0000103000
Kraken SC/ETH 1,789.28 0.0000102400
Binance SC/BTC 194,651.00 0.0000002100
HitBTC SC/BTC 72,127.00 0.0000002023
OKEx SC/BTC 128,782.00 0.0000002040
CoinAll SC/BTC 118,302.00 0.0000002040
Huobi Global SC/BTC 16,855.28 0.0000002050
OKEx SC/USDT 7,691.96 0.0015400000
Binance SC/BNB 6,934.47 0.0000980000
Atomars SC/ETH 617.44 0.0000102800
Poloniex SC/USDT 112.45 0.0015000000
Kraken SC/USD 1,761.87 0.0015300000
Huobi Global SC/ETH 1,792.72 0.0000103900
Bittrex SC/USD 3,076.88 0.0015200000
Bittrex SC/USDT 229.00 0.0015250000
Livecoin SC/BTC 195.18 0.0000002000
Upbit SC/BTC 689.40 0.0000002200
QBTC SC/USDT 7,226,462.00 0.0015900000
XT SC/USDT 531,476.00 0.0015353200
XT SC/SXC 438,391.00 0.0108100000
XT SC/BTC 403,813.00 0.0000002029
Digifinex SC/BTC 179,959.00 0.0000002000
CHAOEX SC/ETH 3,863.90 0.0000101900
CoinEx SC/USDT 28,235.00 0.0015311400
Digifinex SC/ETH 10,819.24 0.0000101900
OKEx SC/ETH 817.13 0.0000101000
Atomars SC/BTC 2,872.47 0.0000002100
Upbit SC/USDT 144.97 0.0017000000
CoinEx SC/BCH 631,439.00 0.0000073400
CoinEx SC/BTC 26,988.00 0.0000002055
Upbit Indonesia SC/USDT 249.40 0.0017000000
Bvnex SC/USDT 33,820.00 0.0729300000
OKEx Korea SC/USDT 0.00 0.0015400000
OKEx Korea SC/BTC 0.00 0.0000002040
SouthXchange SC/BTC 2.97 0.0000002100
LBank SC/BTC 17,116.38 0.0000002000
OKEx SC/OKB 97.06 0.0005600000
SouthXchange SC/DASH 0.00 0.0000283300
Upbit Indonesia SC/BTC 3,339.91 0.0000002200
OKEx Korea SC/ETH 0.00 0.0000101000
BigONE SC/BTC 0.00 0.0000002000
Livecoin SC/USD 0.00 0.0000000000
SouthXchange SC/DOGE 0.00 0.8579999500
C-Patex SC/BTC 0.00 0.0000002200
SouthXchange SC/TUSD 0.00 0.0001000100
BuyUcoin SC/INR 36,581.00 0.1600000000

Background

Sia is a platform for decentralized cloud data storage, getting built by a team at Boston-based Nebulous Inc., founded in 2014. The aim is to provide a platform that allows for peer-hosted storage of files, without the need for a single centralized entity. Sia itself would store only the storage contracts formed between the parties. In the platform, files of individual users will be broken up and spread across a number of storage providers, known as hosts. These hosts will need to provide proof of file storage on a regular basis in order to receive payment and not be penalized. Payment is in the form of Siacoin and penalties involve the host losing Siacoin collateral that was put up. The proofs provided by hosts are available on the Sia blockchain for verification by miners, who also receive payment in the form of Siacoin for their verification work. Instead of pre-mining a certain amount of Siacoin, Nebulous intends to generate revenue from a fees on all contracts. This is done through the existence of so-called siafunds. When a contract is created, 3.9% of the contract fund is removed and distributed to the holders of siafunds. Nebulous Inc started off holding 88%, with the remainder held by early crowd-fund backers of Sia.. Siafunds can be transferred to other addresses but not used as payments on the platform.

Technology

Sia is being built as a derivative of Bitcoin, with the additional required support for the creation and enforcement of contracts. These contracts contain a number of items of information including a hash, duration of the contract, frequency of challenges and payment parameters including the reward for a valid proof and for an invalid or missing proof. If a valid proof is provided during the required window an automatic payment goes to the host. If the proof is missing or invalid the coins are sent to a “missed proof” address, likely an unspendable address. Hosts will be able to advertise themselves in different ways, e.g. as highly reliable, requiring a higher price and with higher penalties for losing files, or as less reliable, with lower prices but with lower penalties for losing files. The intention is for this to result in an optimized, efficient market place.



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