What is SiaCoin?
The idea of Sia was originally discussed at HackMIT 2013. What if you can use the unused storage space in the world and merge it for a global free market for data?
How does SiaCoin work?
Sia uses the capacity of blockchain technology to reach distributed networks in a safe and trustless way. Cryptographically secured smart contracts ensure the encryption and transfer of data without disturbing a third party in any way.
Sia is a new approach to cloud storage platforms. Instead of all data centers owned and operated by a company, Sia opens the slotted holes and allows everyone to make money by renting out their hard drive. Data integrity is protected with redundancy and cryptography.
What does SiaCoin want to achieve?
The promise of Sia is a decentralized network of data centers that together form the world’s fastest, cheapest and safest cloud storage platform. Today it is important to have data centers, create market confidence, reach customers and compete with giants such as Amazon, Google and Microsoft.
Breaking into this market is a multi-billion dollar attempt. The long-term goal of Sia is the backbone storage layer of the internet. We believe that data must be free. We strive to free the unused parts of the world and build the largest storage super server on the planet.