Siacoin

About Siacoin

Siacoin (SC) is the native cryptocurrency of Sia, a decentralized cloud storage platform launched in 2015 by David Vorick and Luke Champine. Rather than relying on centralized providers, Sia allows users to rent unused storage space directly from peers using blockchain-based smart contracts. Files are encrypted, split into fragments, and distributed across multiple hosts before upload, enhancing security and redundancy. SC tokens are used to pay for storage and compensate hosts. The platform positions itself as a more affordable and privacy-focused alternative to traditional cloud storage services like Dropbox or Google Drive.