Siacoin
| Siacoin | |
|---|---|
| Denominations | |
| Plural | siacoins |
| Ticker symbol | SC |
| Development | |
| Original author(s) | David Vorick and Luke Champine |
| White paper | "Sia: Simple Decentralized Storage", 2014-09-14 |
| Implementation(s) | gitlab |
| Initial release | 2014 |
| Code repository | https://gitlab.com/NebulousLabs/ |
| Website | sia |
Search Siacoin on Amazon.
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Siacoin is the digital payment system for the open-source and public digital storage system Sia. Sia is a blockchain-based cooperative digital storage and data retrieval method.[1][2] It is made by Skynet Labs, formerly called Nebulous and is based on the bitcoin protocol with modifications made to enable it to efficiently and securely store files by allowing users to rent unused hard drive space.[3] A blockchain file contract is used to establish parameters of the host-renter relationship like price and uptime commitments. It is a decentralized storage system that aims to provide more robust and more affordable data storage than traditional cloud storage providers, with transactions made using SC, the blockchain’s native currency. The blockchain is based on proof-of-work.
The project was launched in 2014 and is ranked in the top 100 in terms of Market Cap.[4] As of 2020, Sia has a network capacity of more than 2 petabytes (2,256 terabytes), with roughly 333 node operators actively securing the network. It currently hosts some 766 terabytes of files.[3]. It has raised over $9 Million to date from firms including Bain Capital Ventures, Bessemer Venture Partners, A.Capital, Collaborative Fund, Dragonfly Capital Partners, Hack VC, INBlockchain, First Star Ventures and others.[5][6]
Controversy[edit]
In September 2019 Sia and Nebulous reached a settlement $225K over its $120k token sale with the SEC. As a utility token, Siacoin was not required to be registered as security; however, there were issues found with Sianotes and Siastock which the SEC found to be securities.[7][8][9]
See also[edit]
References[edit]
- ↑ "Investors poured millions into a storage network that doesn't exist yet". Ars Technica. Retrieved 2017-08-11.
- ↑ "Salon's Monero mining project might be crazy like a fox". TechCrunch. Retrieved 2018-02-13.
- ↑ 3.0 3.1 "What is Siacoin? (SC)".
- ↑ "Siacoin price, SC price index, chart, and info". Retrieved 2021-02-017. Check date values in:
|access-date=(help) - ↑ "Startup Behind Siacoin Storage Platform Raises $3M, Rebrands as Skynet Labs". Retrieved 2021-02-021. Check date values in:
|access-date=(help) - ↑ "Sia Network Raises $3.5 Million From Bain Capital to Become Crypto Hulu". Retrieved 2021-02-021. Check date values in:
|access-date=(help) - ↑ "SEC Charges Data Storage Company for Unregistered Offering". Retrieved 2019-09-30.
- ↑ "Boston-based Nebulous, makers of the Sia network for decentralized data storage, has settled with the U.S. Securities and Exchange Commission (SEC) over an unregistered securities offering and conversion scheme". Retrieved 2019-10-01.
- ↑ "In the Matter of Nebulous, Inc" (PDF). Retrieved 2019-09-01.
External links[edit]
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