Siacoin Cryptocurrency Review – About SC! At the time the Siacoin project was launched, it worked as a revolutionary technology. The platform offers a private, highly secured, and cost-effective cloud storage.
Siacoin is a cryptocurrency and a decentralized blockchain-based platform. The concept isn’t too complicated. The platform rents storage space and pays users with Siacoin tokens for using it. The project was officially launched on 28th August 2015.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
With centralized storage, there is always the possibility of failure and the chance of misuse of unencrypted data in order to reap higher business profits. Therefore, the company has come up with the idea of collecting a large amount of storage space and coupling it with blockchain to offer encrypted and decentralized cloud storage. It ultimately eradicates the requirement of centralized data centers.
Due to the fact that it is a decentralized platform, there is no need for strong servers to store the data. Anyone can rent its computer storage to the Siacoin network and get paid for that. Respectively, if someone prefers to use the platform storage must pay cryptocurrency tokens.
SC is a special currency that utilizes this network for executing file storage contracts on the Sia blockchain. All the decentralized payments on the networks have been done by SC. It enables you to do things that are not possible with traditional online payments or Bitcoin. SC can be acquired in exchanges or through mining.
At the moment, the Siacoin cryptocurrencies are available to be kept only on a desktop version of the wallet, used on Linux, Mac, and Windows operating systems. All you need to do is enter on Siacoin’s official website and install the wallet. The wallet is called Sia-UI Wallet.
