Crypto Review – Siacoin

Siacoin is one of the players in the decentralized storage space. The cloud storage industry is massive and
Sia hopes to put a dent on the big players like Microsoft, Google and amazon cloud storage who
currently are dominating the cloud storage industry.

What Sia does is breaks the data to be stored and encrypts it and send it across the distributed channels for
storage. Anyone with a hard disk and an Internet connection can store the encrypted packet of data, which
can be retrieved by the original user and its decrypted and used. The data on the
sia cloud storage network can be accessed and stored anywhere in the world.

There are two components that set apart from other decentralized storage STORJ, IPFS on the pricing
side and the file contract side.

Siacoin is cryptocurrency exchange that is used in the network for the payment of the storage facility.
However, the bigger question is do we really need their own token? Sia is issued on the btc exchange
blockchain where they issue the smart contracts and with some specific details that lay it out but it seems
like a reasonable enough reason for a separate btc bitcoin currency.

There are 26 billion or so Siacoins now and there will eventually be around 48 billion by the year 2023.
The faster mining is a bit of a concern now but they seem to be gaining adoption at a decent clip and as
the current price of 2k Sia coin per terabyte per month when all 48 billion coins are mined they will have
a capacity of 24.23 exabytes, which seems to be a pretty huge sia cloud storage at least for the time being.
The next step Sia is looking forward is to rope in big partners, which will make the system usable and
give more trust to the market investors. With this development, the ethereum exchange traders will also
be keenly looking forward for further investments in coin miner Sia and watch out its coin price.