Siacoin Cryptocurrency Review – A Beginner’s Guide

Siacoin Cryptocurrency Review – A Beginner’s Guide
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Siacoin Cryptocurrency Review – A Beginner’s Guide. The company, Sia, provides decentralised storage whereby your files are broken up into smaller parts, encrypted, and stored on a network of multiple computers (nodes) provided by other participants in a peer-to-peer model.

Sia project offers a private, decentralized and secure cloud-based storage platform hosted on the blockchain for a fraction of the price of other popular storage platforms such as Dropbox, Amazon S3, and Google Drive.

iqoption Siacoin Cryptocurrency Review - A Beginner’s Guide

iqoption Cryptocurrency Review

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Sia describe their service as being up to 10 times cheaper than traditional providers like Dropbox and Amazon Web Services. They also cite their model as being more secure with greater redundancy, owing to the fact that customers own private keys to their data which is not stored completely with any single entity.

Sia has the potential to disrupt a multibillion dollar industry, namely the storage of the world’s files in a way that is more private, more secure, and more cost effective than ever before. With no need for a central bank of severs on which to store data, Sia could absolutely revolutionize the cloud storage industry by utilizing blockchain technology to allow for peer-to-peer file storage.

You are not able to purchase SIA COIN with “Fiat” currency so you will need to first purchase another cryptocurrency using a bank transfer or debit / credit card purchase and then trade that for SIA at an exchange which lists the token.

Siacoin looks like it could be an interesting project. Peer-to-peer storage could very well be the future of file storage as our respective cyber footprints grow larger with each passing year.

Siacoin Cryptocurrency Review – A Beginner’s Guide

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