Altcoin

2018 Belongs to Siacoin (Sia), Raised $1.5 Million Fund, More Listings, New Features

Siacoin (Sia) – As data becomes more and more invaluable resources in the world today, Siacoin, a blockchain technology is making all effort to appreciate data at all cost by securing and handling data safely away from manipulation and hacking. Among the most silent altcoins in the crypto world making huge impact is Siacoin. Siacoin, according to its website is a “decentralized storage platform secured by blockchain technology”.

“The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable, with lower cost than traditional cloud storage providers”.

Siacoin Made It In April

The data storage blockchain technology, in a blog post on its medium page tagged “Sia Community Update — April 2018” mentioned that the month of April was a tremendous one for the altcoin has it was able to sell 231 coins and raised $1.5 million funds through Tokenized Securities Offering (TSO).

“Sia has long been one of the leanest projects around. We’ve run on a tight budget for a long time, and have one of the most advanced projects in the blockchain space to show for it. The Sia Storage Platform is also one of the most actively developed projects — and that’s been with only three developers and the contributions of our amazing community”, said in the blog post stated.

“With this capital we’ll immediately expand the dev team. In fact, we’ve already hired our fourth developer Matt and brought on Jacob to assist with Nebulous operations (more on them soon)”.

Steve Funk, head of support for Sia in the post said the development team has learnt a lot through the process and with the fund, they are looking forward to hiring more persons for the team in coming weeks, this will definitely increase the pace of developments.

Funk added that the listing of the altcoins on exchanges, also in the month of April, has expanded and new features have also been launched.

Listing

Even though Siacoin is not a well-known altcoin in the market, it has been able to achieve some outstanding developments like listing on some reputable and well-known platforms around the world.

At present Sia has been listed on 12 exchange platforms across the world, amongst which CoinEx, Bittrex, bitbns, CoinSwitch, Upbit, hitBTC, and some other six lie.

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Since exchanges are meant for the trading of altcoins, and they have got more users than each coins on its own in the market. Definitely, the introduction of a coin on an exchange will give it more recognition and usability.

“Our exchange options have never looked better. Over the past couple of weeks Bittrex has added a new trading pair, Siacoin to USDT. Upbit has activated the Siacoin to KRW (Korean Won) pair as well as enabled their SC wallet for deposits and withdrawals”, the post reads, stating that the team is making all effort to get more listing as time goes on.

New features

Added to the April developments and upgrade is the introduction of new features that placed the Cryptocurrency a step ahead of its previous stand in the crypto world.

Included in the new features are:

  • Additional logging: created to clamp down bugs and increase users’ visibility.
  • Contract fees: permits users to see a breakdown of their expenditures.
  • Other features include; io.ReadSeeker, and Rollback.

Other developments stated in the release are the graduation of the altcoin’s Twitter account to over 100,000 followers, and YouTube channel reaching its first 1,000 subscribers.

Latest Developments

Tagged “the only fully decentralized storage platform in the business”, Siacoin continues to add more and more to itself in order to gain anchor in the space so that it does not get swayed away by the market forces.

In a latest post which the altcoin released on medium, the lead developer of Sia, David Vorick aired that in about 8 weeks from now, the team will be launching a Cryptocurrency ASIC manufacturing company called Obelisk.

“One of the reasons we started Obelisk was because we felt that coin devs in general had a very poor view into the mining world, and that the best way to understand it would be to get our hands dirty and bring a miner to market,” Vorick averred.

Siacoin (Sia) Chart source coinmarketcap.com

Siacoin In The Market

Ranked 35th in the market according to Coinranking, Siacoin, as at the press time was priced $0.0213 with a market cap of over 732 million Dollars. In the last 24hrs, Siacoin experienced a 1.39% drop in value, and the last 7 days was also ushered with a 17.55% value fall while in the last 30 days, the value of the Siacoin rose by 23.04%. At present, the market might seem bearish for Siacoin, and maybe a less known Cryptocurrency in the market, but its moves and development as signalling a big change for the altcoin in the crypto space.

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