Siacoin (SC)

$0.011992 (21.7%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
96 $580,080,000.00 $53,288,900.00 48,373,900,000 SC -- 21.7% -6.52% -$2.60

Exchange Pair Volume (24h) Price
HitBTC SC/BTC 1,352,062.00 0.0000003272
Bitcoin.com Exchange SC/BTC 1,367,269.00 0.0000003278
Binance SC/BTC 2,036,020.00 0.0000003100
Upbit SC/KRW 11,593,011.00 14.9000000000
Binance SC/USDT 7,006,334.00 0.0123060000
Kraken SC/USD 2,045,480.00 0.0128400000
Kraken SC/EUR 1,442,215.00 0.0108600000
VCC Exchange SC/USDT 947,201.00 0.0127450000
Gate.io SC/USDT 109,819.00 0.0124020000
Binance SC/ETH 2,501,367.00 0.0000053900
OKEx SC/USDT 6,584,996.00 0.0128400000
XT.COM SC/BTC 318,593.00 0.0000003147
XT.COM SC/USDT 4,884,623.00 0.0127610600
Huobi Global SC/BTC 248,284.00 0.0000003246
Huobi Global SC/USDT 875,945.00 0.0127000000
Bittrex SC/BTC 119,590.00 0.0000003200
Kraken SC/ETH 59,180.00 0.0000055900
Bittrex SC/USD 164,156.00 0.0127300000
VCC Exchange SC/ETH 300,363.00 0.0000054000
Digifinex SC/BTC 378,502.00 0.0000003252
OKEx SC/BTC 1,533,952.00 0.0000003270
Digifinex SC/ETH 525,063.00 0.0000055800
Binance SC/BUSD 138,852.00 0.0121200000
Poloniex SC/USDT 44,117.00 0.0126609900
Binance SC/BNB 124,139.00 0.0000393000
Poloniex SC/BTC 32,860.00 0.0000003100
BKEX SC/USDT 198,813.00 0.0120600000
Huobi Global SC/ETH 37,806.00 0.0000055700
Bittrex SC/ETH 17,004.31 0.0000055500
Bittrex SC/USDT 102,272.00 0.0126698500
WazirX SC/INR 112,220.00 0.9721000000
WazirX SC/USDT 17,207.87 0.0122100000
Upbit SC/BTC 6,851.99 0.0000003300
BigONE SC/USDT 812.79 0.0126500000
CoinEx SC/USDT 21,960.00 0.0127724600
Gate.io SC/ETH 10,226.15 0.0000054190
VCC Exchange SC/BTC 121,192.00 0.0000003100
BiONE SC/USDT 894,434.00 0.0128900000
SouthXchange SC/BTC 23.36 0.0000003190
Upbit SC/USDT 2,993.01 0.0123960000
SouthXchange SC/USD 0.32 0.0124340000
SouthXchange SC/USDC 10.19 0.0125170000
SouthXchange SC/DOGE 1.02 0.0601610400
SouthXchange SC/DASH 0.21 0.0000859000
Hotbit SC/ETH 413,650.00 0.0000055041
Hotbit SC/USDT 3,384.73 0.0125866500
BigONE SC/BTC 30.41 0.0000003251
CoinEx SC/BTC 10,730.15 0.0000003258
SouthXchange SC/LTC 0.03 0.0000914600
SouthXchange SC/TUSD 0.02 0.0117133900
Kraken SC/XBT 761,174.00 0.0000003274
Upbit Indonesia SC/BTC 6,928.25 0.0000003300
BitBNS SC/INR 5,978.68 0.9470000000
MEXC Global SC/USDT 82,674.00 0.0123430000
SouthXchange SC/BCH 0.08 0.0000250000
SouthXchange SC/PAX 0.02 0.0119930700
C-Patex SC/BTC 0.00 0.0000003200

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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