Sia Coin (SC)- Complete Guide
In the world of Cryptocurrency, What if you’ll get paid just by renting free space of your computer? What if you can store your data in the cloud for just 2USD per month? Isn’t it amazing?
Siacoin project has many benefits like the storage problem will get solved plus anybody can earn some amount of money from it,
The motto of Sia is “No sign-ups, No servers, No trusted third parties, and it is based on one of the first blockchain technology, Bitcoin.
These are some features of Sia, In this article, we’ll know about Sia Network and its token SC.
Well, I got to know about it a few years back when I went to Meghalaya, an Indian state with lush green forest and beautiful scenic views famous for its rainfall, as we reached Meghalaya’s capital Shillong, the rain was at its peak.
We all were happy just to see the forests, waterfalls, mountains and all that rains pouring onto them were icing on the cake, they were so beautiful that I couldn’t stop taking photos.
The Storage problem in our phone and cloud storage.
I remembered, it was the 4th day of my journey and suddenly I realized that all my hard drives were full of videos and photos, and there was no enough space available.
So I decided to upload all my files on cloud storage, and to do that two names came into my mind, Google cloud and Amazon cloud services,
I’ve searched about them, they were all good except few issues like increase demand, hacking risk, data mismanagement, etc.
And I m not gonna lie,
For me, the main problem was their price. They were all quite expensive, and I was looking for something simple and cheap.
So, I kept searching.
What is Sia and Siacoin?
After spending some time on the internet I got to know about the Sia network and its coin named Siacoin SC.
One thing that caught my attention was the line from Sia network’s websites
“NO Signups, no servers, no trusted third parties.”
How can it be possible?
In past, I’ve encountered various blockchain technologies like Bitcoin, Ethereum, Zcash, Zilliqa, and that much I know that they are working in a decentralized manner to provide security and privacy to the users.
But cloud storage without any centralized servers!! That was something new to me.
I was curious to know more about it and also how it will store my videos in clouds without any servers.
After reading from Sia, what I found out was astonishing,
What is the use of Sia?
In Sianetwork,
- Any running computer on the internet can rent out its free hard drive spaces and in return, those computers will get Siacoin as a reward,
- Any users who are looking to store their files can use this hard drive as their cloud storage at only 2USD per month.
All I wanted was a simple and cheap method and Siacoin lived up to my expectations.
I thought “this is nice. I can store my data into Sia network in just 2USD/TB per month.”
But one side of my mind was searching for the answers like
- How does it’ll do such a big job?
- What about privacy and security?
- What if the host turns down his system?
- How can I get access to my file?
To answers these questions myself, I read few articles on the internet.
How Siacoin works?
It is like cutting an apple into many slices and distributing it to various peoples, just like that
Sia network,
- Breaks our files into many small slices,
- Encrypt each one of them,
- Send them to various hard drives so that each hard drive handles a very smart portion of those files.
- It also creates many copies of that slices and sends them to various hard drives so that if 20 or 30 hosts are offline still users will able to retrieve it back.
Amazing isn’t it.
I was filled with joy because now I can store all my videos into a cloud without any fear,
So, after doing all this research my eyes were all tired and I went to sleep but, I suddenly remembered that I’ve also a computer system at my home, what if I can turn it into the host and rent out its free space to Sia. I can also earn rewards from it.
How Sia Network can be used?
This blog post was originally published here
