What Is Siacoin (SC)?

The information offers you a transparent understanding of the functioning of Siacoin (SC) – one of many greatest P2P cloud storage platforms with a market for cloud providers.

Siacoin (SC) is a peer-to-peer (P2P) blockchain-based community that capabilities as decentralized cloud storage. It relies on community contributors to supply storage providers and hire extra bandwidth for Siacoin customers in addition to shoppers. Siacoin customers and community contributors have the chance to hire space for storing from each other within the Siacoin group. This selection offers a extra cheaper and environment friendly choice in comparison with centralized cloud storage suppliers.

Sia has a community capability of over 2 petabytes (which is roughly 2,256 terabytes), as of 2020. It additionally has roughly 333 node operators actively securing the community. As of July of 2021, Siacoin hosts about 766 terabytes of information.

Siacoin Workforce and Growth

David Vodrick and Luke Champine based Siacoin again in 2013. At the moment, each the builders had been college students of pc science on the Rensselaer Polytechnic Institute in New York. The duo first conceived the concept for a decentralized file storage community at a hackathon that occurred at MIT in 2013.

The next yr, David and Luke established Nebulous Inc., backed by $750,000 in funding from financiers comparable to Xiaolai Li and Procyon Ventures. Earlier than engaged on Sia, David Vorick had beforehand labored on tasks just like the Bitcoin Core, which is the foremost software program utilized by nodes on the Bitcoin community.

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