What makes SiaCoin (SC) different from most of the other cryptocurrencies is because it is also a cloud storage platform. Employing a smart contract orientation, it is a cloud storage facility but definitely different to that of Google Drive, Dropbox, iCloud, Amazon S3 and other cloud platform storage services as it uses the decentralization capabilities of the blockchain technology. This makes it arguably the most secure data storage system available to date.
Individuals, companies, and organizations can now store their sensitive data into this advanced system platform. The data stored is then scattered to available spaces from within the system and can only be accessed by the main user unless he specifies otherwise. Officially, SiaCoin (SC) is the only cloud-based data storage provider which utilizes a decentralized blockchain platform. Storage space is then rented for a very minimal fee or if one has extra space, it can be rented out for some profits. All transactions are processed using only SC tokens at the moment.
Granting secured and independent access to the user, no other third party can have access to it. SiaCoin’s data storage fees are also much lower when compared to another platform with the same services or purpose. For a terabyte of space, only around $ 2.00 USD is charged making it not just a secure platform but also very affordable.
Due to this feature, its price is expected to increase in the market as people become more interested to acquire of this basic need. By the time of writing, it has a market price of $ 0.019781 USD with a market cap of $ 683.86 million. The total volume traded the last 24 hours was $ 16.61 million with 34,752,231,680 SC in circulation.
Invest In The Real Estate Of The Crypto World
As formerly mentioned, SiaCoin (SC) is a decentralized cloud-based storage system. But the catch is, similar to that in the physical world, you can rent or rent out storage spaces. In the real world, when we buy idle land with intentions of making it an investment for the business, we speculate that after some time, the property’s vicinity would have developed and will be busy. By then, we can have the option to rent out or sell our property. Such is the case with SiaCoin. You can either be a tenant who rents, a landlord, or a land developer who buys and sells the property for good profit. This makes it very attractive to investors and traders of not only digital currencies, but to those who are interested in investments in general.
Analysts say that these are good signals for the long run as secured data storage is not just an option anymore. In this modern world we live in, it has become a must and securing your data using the blockchain platform in a decentralized manner is as safe as it can possibly go. It is definitely a game changer.
As with any enterprise and the clients’ interests as well, protection and safety is a primary concern. SiaCoin’s digital ecosystems have very effective measures to guarantee data security. They can divide data copies itself and scatter them amongst many storage providers or hosts. This assures not only security but better retrieval functions as well. Storage clients and providers from with the digital system also have a “file contract”. Again, similar to a rental contract in the real world, details are agreed upon but encrypted on Sia’s platform.
What Lies Ahead In SiaCoin’s Platform Development
As with all cryptocurrency platforms, the developers at SiaCoin is on a constant effort to improve its network. Amongst the factors and features, they want to improve more include making transactions faster, making file recoveries more efficient, enhancing file sharing properties between users, providing access for a fragment or partial file downloads, improvements in their UI/UX functions and others more. The team also have plans to integrate video streaming since videos would most probably be a bulk of the files uploaded by many. Users can also grade hosts putting them on black or white lists when necessary. Another outstanding feature they are working on is to upscale file support to sizes bigger than 10 terabytes with a single file transaction or process. They also have plans to incorporate mobile systems support for lighter clients and mobile accessibility.
Why Choose SiaCoin Against Google Drive, Amazon S3 Or Dropbox
Since data cloud storage services seem to be on top of SiaCoin’s agendas in terms of providing good or better service to the market, many would ask, “Why to choose Sia?”. The reasons are clear and simple. First and foremost would be its security features. None of the other platforms use blockchain encryption technology and decentralization for their services. In the world of data storage systems, using it was unheard of and ground-breaking. Next would be affordability. With as little as $2 USD a month for a terabyte of data, it provides services at perhaps only a tenth of a fraction of what the others give. And then there is ultimate privacy. Unlike other data storage providers which can access user files at will, SiaCoin’s platform only allows access to the user who has the private key. No one else could access the files unless the key was given. This gives the user complete and absolute control over his or her stored data.
Security, affordability, privacy and an investment in the real estate of cryptocurrencies; these are more than enough reasons to convince most that SiaCoin is not your regular digital currency. It is slowly forging its mark on the crypto world’s foundations itself. With the intent of offering a must-have service in today’s world which is more efficient, and giving the option for users to earn extra profit by means of renting out their vacant storage slots, it is almost certain that it will not only survive but prosper in the years to come.