Siacoin (SC)

$0.026751 (-32.3%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
86 $1,278,790,000.00 $129,714,000.00 47,803,000,000 SC -- -32.3% -13.23% $8.64

Exchange Pair Volume (24h) Price
HitBTC SC/BTC 5,423,285.00 0.0000006044
Binance SC/USDT 31,119,566.00 0.0271980000
VCC Exchange SC/USDT 13,677,696.00 0.0271580000
Kraken SC/USD 11,072,319.00 0.0272900000
OKEx SC/USDT 23,038,643.00 0.0271800000
Upbit SC/KRW 28,882,889.00 33.6000000000
Binance SC/BTC 9,132,700.00 0.0000006100
Kraken SC/XBT 1,125,867.00 0.0000006059
Gate.io SC/USDT 523,102.00 0.0271050000
Kraken SC/EUR 7,117,907.00 0.0225400000
Huobi Global SC/USDT 5,278,743.00 0.0270970000
VCC Exchange SC/BTC 1,134,131.00 0.0000006100
Bittrex SC/USD 1,692,433.00 0.0270700000
Huobi Global SC/BTC 2,021,413.00 0.0000006028
Bittrex SC/BTC 1,394,755.00 0.0000006000
OKEx SC/BTC 8,476,554.00 0.0000006040
MXC SC/USDT 248,732.00 0.0271400000
Kraken SC/ETH 293,588.00 0.0000077800
Poloniex SC/BTC 454,764.00 0.0000006100
Poloniex SC/USDT 466,943.00 0.0270942700
Atomars SC/USDT 51,915.00 0.0271720000
VCC Exchange SC/ETH 326,073.00 0.0000077600
Binance SC/ETH 1,047,549.00 0.0000077500
XT.COM SC/USDT 1,847,118.00 0.0271648700
BKEX SC/USDT 454,910.00 0.0272700000
Binance SC/BNB 317,440.00 0.0000511000
Huobi Global SC/ETH 241,311.00 0.0000077900
BiONE SC/USDT 2,496,957.00 0.0270600000
Digifinex SC/ETH 838,539.00 0.0000077400
WazirX SC/INR 763,802.00 2.2490000000
CoinEx SC/USDT 100,736.00 0.0272002300
Bittrex SC/ETH 345,146.00 0.0000078100
Bittrex SC/USDT 356,312.00 0.0275406900
BiKi SC/USDT 105,036.00 0.0270860000
BigONE SC/USDT 6,653.54 0.0269600000
Atomars SC/ETH 4,904.17 0.0000078200
BigONE SC/BTC 4,263.79 0.0000005992
WazirX SC/USDT 433,567.00 0.0272000000
Upbit SC/BTC 100,539.00 0.0000005900
Gate.io SC/ETH 11,808.38 0.0000077870
Digifinex SC/BTC 1,545,888.00 0.0000005781
XT.COM SC/BTC 1,166,624.00 0.0000006140
SouthXchange SC/BTC 376.78 0.0000005980
Upbit SC/USDT 17,203.68 0.0275000100
SouthXchange SC/TUSD 4.83 0.0270503800
SouthXchange SC/USD 20.32 0.0265630000
SouthXchange SC/BCH 4.12 0.0000246900
SouthXchange SC/LTC 20.70 0.0000922400
SouthXchange SC/PAX 0.27 0.0255890600
Hotbit SC/USDT 3,690.38 0.0271000000
CoinEx SC/BTC 5,761.97 0.0000006003
Hotbit SC/ETH 134.08 0.0000082531
Upbit Indonesia SC/BTC 90,968.00 0.0000005900
BitBNS SC/INR 8,787.18 2.2790000000
SouthXchange SC/DOGE 5.67 0.0539165900
SouthXchange SC/DASH 9.42 0.0000842100
SouthXchange SC/USDC 10.16 0.0243390000
C-Patex SC/BTC 18.67 0.0000006400

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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