Siacoin (SC)

$0.002782 (-3.45%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
79 $125,031,000.00 $2,266,730.00 44,950,200,000 SC -- -3.45% 1% $0.10

Exchange Pair Volume (24h) Price
Binance SC/BTC 457,110.00 0.0000002100
Kraken SC/USD 17,903.97 0.0026900000
Upbit SC/KRW 156,707.00 3.0500000000
Kraken SC/XBT 18,366.44 0.0000002075
Kraken SC/EUR 17,146.87 0.0022700000
Binance SC/USDT 197,454.00 0.0026990000
HitBTC SC/BTC 264,449.00 0.0000002068
Huobi Global SC/BTC 82,284.00 0.0000002076
Digifinex SC/ETH 106,133.00 0.0000066100
Binance SC/ETH 55,779.00 0.0000065900
Binance SC/BNB 22,717.00 0.0000887000
Huobi Global SC/ETH 55,023.00 0.0000066000
BKEX SC/USDT 132,728.00 0.0027000000
Bittrex SC/ETH 5,011.50 0.0000065900
Bittrex SC/USD 1,995.40 0.0027000000
Hotbit SC/USDT 3,873.94 0.0027157200
BigONE SC/BTC 17,962.21 0.0000002078
BigONE SC/USDT 18,293.50 0.0027300000
Hotbit SC/BTC 3,867.30 0.0000002109
VCC Exchange SC/BTC 53,119.00 0.0000002100
Bittrex SC/BTC 18,580.01 0.0000002100
VCC Exchange SC/USDT 98,384.00 0.0027010000
VCC Exchange SC/ETH 17,185.40 0.0000065900
Poloniex SC/BTC 5,389.61 0.0000002000
Kraken SC/ETH 4,196.80 0.0000066700
WazirX SC/USDT 305.56 0.0027000000
Bittrex SC/USDT 4,182.27 0.0027466400
Digifinex SC/BTC 203,835.00 0.0000002100
Poloniex SC/USDT 2,297.98 0.0027240000
Atomars SC/USDT 3,274.18 0.0026880000
Atomars SC/ETH 938.23 0.0000066300
CoinEx SC/USDT 11,348.20 0.0027105200
Atomars SC/BTC 4,080.39 0.0000002000
Upbit SC/BTC 358.47 0.0000002000
Livecoin SC/BTC 315.85 0.0000002100
OKEx SC/USDT 106,701.00 0.0028200000
OKEx SC/BTC 325,081.00 0.0000002180
OKEx SC/ETH 24,843.00 0.0000069000
XT SC/BTC 8,268.53 0.0000002054
CoinEx SC/BTC 7,295.50 0.0000002015
CoinEx SC/BCH 4,095.35 0.0000099848
XT SC/USDT 62,327.00 0.0026613600
Upbit Indonesia SC/BTC 1,447.71 0.0000002000
BitBNS SC/INR 72.17 0.2050000000
OKEx Korea SC/BTC 40.73 0.0000002300
CoinAll SC/BTC 1.02 0.0000002190
SouthXchange SC/BTC 0.50 0.0000002100
Livecoin SC/ETH 25.57 0.0000070100
Livecoin SC/USD 3.58 0.0029900000
SouthXchange SC/PAX 1.50 0.0026287300
Upbit SC/USDT 4.81 0.0034962800
SouthXchange SC/TUSD 0.25 0.0027773200
SouthXchange SC/USD 0.25 0.0027370000
SouthXchange SC/DASH 0.09 0.0000377700
SouthXchange SC/BCH 0.03 0.0000113700
SouthXchange SC/DOGE 0.02 1.0421135600
Upbit Indonesia SC/USDT 128.25 0.0034962800
LBank SC/BTC 12.78 0.0000003300
C-Patex SC/LTC 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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