Siacoin
SC
Crypto
Decentralised Networks
USD 0.0055-1.46%
Siacoin
UMushroom community rating:
About
Decentralised Networks
CategoryProof Of Work
Consensus MechanismL1
L1/L2DeFi
Sub-cateegoryn/a
Ecosystem2015
Year of creation
Description
Siacoin (SC) is a Decentralised Networks crypto coin. The coins can be earned through the process of mining. Siacoin`s origin block was generated on 2015-08-26. More information can be found at https://sia.tech/.
Key Technical Advantages:
Decentralized Storage Contracts: Sia enables the formation of storage contracts between peers, wherein a storage provider agrees to store a client's data and submit proof of continued storage at regular intervals. The provider is compensated for every proof they submit and penalized for missing a proof. Blockchain-Based Proof System: These storage contracts, along with their proofs, are stored in a blockchain, making them publicly auditable. This approach allows network consensus to be used to automatically enforce storage contracts. It also means that clients do not need to personally verify storage proofs. Redundant Storage Across Multiple Hosts: To ensure high data availability and quality of service, Sia recommends storing data redundantly across multiple hosts. This is especially useful when dealing with untrusted hosts. The use of erasure codes can enable high availability without excessive redundancy. Transaction Structure: SiaÕs transaction structure significantly differs from Bitcoin's. Instead of using a scripting system for transactions, Sia employs an M-of-N multi-signature scheme for all transactions. This reduces complexity and potential attack surfaces. Integration with Bitcoin: Sia was initially implemented as a blockchain-based altcoin with planned future support for a two-way peg with Bitcoin. This integration with Bitcoin is aimed at leveraging the financial ecosystem of Bitcoin while providing unique functionalities of Sia. Content summarized by AI chatbotSource:
https://sia.tech/sia.pdfKey figures
-21.3%1Y
-62.4%3Y
319%5Y
Performance
0/ 01D
0/ 01M
0/ 01Y
Highs/ Lows
31.08.2022
USD 0.09
All Time High
5.89%
% of All Time High
-98.99%All Time
-83.80%1 year
Max drawdown
#230
Ranking by Market Cap
328.84 M
Market cap (USD)
0.00%
% of Market
900.444 B
Category Market Cap (USD)
0.04%
% of Category
57769785000
Circulating Supply
57740391700
Liquid Supply
99.95%
Liquid/ Circulating Supply
N/A
Not Available Currently
Max Supply
N/A
Not Available Currently
Circulating/ Max Supply
45483342
Volume Traded
19.82%
Volume Traded/ Market Cap
Ratings & reviews
Performance:
0.00
Innovation:
0.00
Society:
0.00
Nature:
0.00
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