Siacoin (SC)

$0.002053 (1%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
68 $85,854,200.00 $1,173,740.00 41,817,000,000 SC 80 1% 1.17% -$0.02

Exchange Pair Volume (24h) Price
Bittrex SC/BTC 34,512.00 0.0000002000
Binance SC/BTC 91,039.00 0.0000002000
Poloniex SC/BTC 24,882.00 0.0000001900
Bittrex SC/USDT 7,873.69 0.0020729800
Binance SC/BNB 8,144.50 0.0000765000
Binance SC/ETH 22,515.00 0.0000106300
Bittrex SC/ETH 11,162.79 0.0000107300
Poloniex SC/USDT 1,954.27 0.0020699000
Upbit SC/BTC 34,536.00 0.0000002000
HitBTC SC/BTC 225,692.00 0.0000001987
OKEx SC/USDT 2,604.91 0.0020600000
Upbit SC/KRW 51,498.00 2.4700000000
Digifinex SC/BTC 86,024.00 0.0000001900
Upbit SC/USDT 7,190.32 0.0020520100
Huobi Global SC/BTC 26,326.00 0.0000001990
CoinAll SC/BTC 27,987.00 0.0000001990
Upbit SC/ETH 11,152.65 0.0000107200
Digifinex SC/ETH 17,877.72 0.0000107500
OKEx SC/BTC 5,206.65 0.0000001990
Huobi Global SC/ETH 4,072.51 0.0000106700
CHAOEX SC/ETH 8,548.26 0.0000106700
Bittrex SC/USD 378.40 0.0020100000
SouthXchange SC/BTC 19.32 0.0000002000
QBTC SC/CNYT 1,830,537.00 0.0149250000
XT SC/SXC 1,322,618.00 0.0142750000
XT SC/USDT 1,317,465.00 0.0020316500
XT SC/BTC 754,146.00 0.0000001986
Lbank SC/BTC 120,229.00 0.0000001800
OKEx SC/ETH 12.87 0.0000108000
CoinEx SC/BCH 369,033.00 0.0000068200
CoinEx SC/BTC 22,568.00 0.0000001938
Livecoin SC/BTC 143.53 0.0000001900
Vbitex SC/VB 246,631.00 0.0161000000
SouthXchange SC/USD 0.00 0.0020000000
BigONE SC/BTC 1.09 0.0000001800
OKEx SC/OKB 8.81 0.0006900000
BuyUcoin SC/INR 31,938.00 0.1400000000
C-Patex SC/BTC 0.00 0.0000002300
SouthXchange SC/PAX 0.00 0.0013370100
Livecoin SC/USD 0.00 0.0000000000
Livecoin SC/ETH 0.00 0.0000000000

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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