Siacoin (SC)

$0.002262 (34.67%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
52 $94,586,100.00 $5,263,880.00 41,817,000,000 SC 78 34.67% -0.23% -$0.78

Exchange Pair Volume (24h) Price
Upbit SC/BTC 78,517.00 0.0000002600
Bittrex SC/BTC 78,517.00 0.0000002600
Poloniex SC/BTC 54,993.00 0.0000002700
Upbit SC/KRW 66,081.00 2.6000000000
Kraken SC/EUR 107,368.00 0.0021200000
Kraken SC/XBT 39,486.00 0.0000002723
Upbit SC/USDT 20,897.00 0.0022274900
Bittrex SC/USDT 20,954.00 0.0022334900
Upbit SC/ETH 14,821.26 0.0000121100
Binance SC/BNB 29,389.00 0.0001226000
Bittrex SC/ETH 14,967.78 0.0000122000
Kraken SC/ETH 16,559.84 0.0000122700
Kraken SC/USD 16,194.01 0.0022800000
Poloniex SC/USDT 1,438.65 0.0023128300
Binance SC/BTC 520,783.00 0.0000002700
HitBTC SC/BTC 54,694.00 0.0000002684
Huobi Global SC/BTC 44,619.00 0.0000002690
OKEx SC/USDT 48,071.00 0.0022300000
Binance SC/ETH 84,117.00 0.0000121500
Huobi Global SC/ETH 11,293.84 0.0000121100
OKEx SC/BTC 19,603.94 0.0000002690
CHAOEX SC/ETH 6,759.22 0.0000121200
Bittrex SC/USD 671.71 0.0021600000
Livecoin SC/BTC 206.09 0.0000002800
XT SC/SXC 7,269,110.00 0.0158410000
QBTC SC/CNYT 2,664,046.00 0.0159230000
XT SC/USDT 1,450,337.00 0.0022905100
XT SC/BTC 705,352.00 0.0000002700
Digifinex SC/BTC 309,626.00 0.0000002700
Lbank SC/BTC 159,464.00 0.0000002600
CoinAll SC/BTC 52,172.00 0.0000002690
Digifinex SC/ETH 58,620.00 0.0000120900
OKEx SC/ETH 1,494.33 0.0000121000
CoinEx SC/BCH 3,256,550.00 0.0000100000
CoinEx SC/BTC 142,412.00 0.0000002706
Vbitex SC/VB 244,926.00 0.0164000000
Upbit Indonesia SC/BTC 187,785.00 0.0000002600
Upbit Indonesia SC/USDT 109,902.00 0.0022274900
Upbit Indonesia SC/ETH 77,300.00 0.0000121100
OKEx Korea SC/USDT 0.00 0.0022300000
OKEx Korea SC/BTC 0.00 0.0000002690
SouthXchange SC/BTC 114.61 0.0000002700
OKEx SC/OKB 10.70 0.0010300000
BuyUcoin SC/INR 36,546.00 0.1590000000
OKEx Korea SC/ETH 0.00 0.0000121000
BigONE SC/BTC 0.00 0.0000002662
Livecoin SC/ETH 0.00 0.0000000000
Livecoin SC/USD 0.00 0.0000000000
C-Patex SC/BTC 0.00 0.0000002000
SouthXchange SC/LTC 0.00 0.0008488000
SouthXchange SC/USD 0.00 0.0031000000
SouthXchange SC/DOGE 0.00 0.9999883000
SouthXchange SC/USDC 0.00 0.0013370000
SouthXchange SC/BCH 0.00 0.0000100000

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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