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What is Sia Project?
Sia uses blockchain technology to enable distributed network to reach consensus in a secure and trustless way. It allows individuals to rent out their hard drives and make money. In today’s market, being a major cloud storage player requires having centralized datacentres and huge infrastructure space while Sia decentralizes the hardware requirement using distributed network. The long term goal of Sia is to be the backbone storage layer of the Internet
Key Features of Sia
- Privacy – Sia offers complete privacy by splitting apart, encrypting and distributing the file across the decentralized network. Since the user holds the key, nobody can access the access from outside the company
- Less cost – Storing 1TB on Sia costs about $2 per month, compared with $23 on Amazon S3. Sia provide a calculator in it s website to calculate savings
- Redundancy – Sia stores tiny pieces of your files on dozens of nodes across the globe. This eliminates any single point of failure and ensures highest possible uptime, on par with other cloud storage providers.
- Rental Marketplace – Since it creates a decentralized storage marketplace, the hosts compete for getting customers. Hence, the prices available are competitive and might be lowest possible (we should also consider other cloud rental space providers!!).
Sia is going to have a hard fork at the end of the month (tentative January 31, 2018). “This hardfork activates at block 139,000”
Sia Coin Rating (By: Coincheckup.com)
|Total Score analysis Rating||64.65%|
|Social Media Activity||55%|
|Open Communication Channels||100%|
The market is showing strong positivity for the coin and optimistic about it to reach 2x of its value by the end of this month. The coin has already given around 50% return in last two days. (Jan 3 – Jan 5)