Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

What is Siacoin (SC)?

Siacoin basic info

Name:Siacoin
Ticker:
Introduction:

What Is Siacoin?

Siacoin is a decentralized cloud storage platform that leverages blockchain">blockchain technology to facilitate secure, private, and affordable data storage solutions. Founded in 2013 by developers David Vorick and Luke Champine, Siacoin aims to be the backbone storage layer of the internet, offering a viable alternative to centralized cloud storage services like Amazon and Google. The platform operates on a peer-to-peer network, eliminating the need for intermediaries and ensuring data privacy and security.

Siacoin is a fully automated ecosystem comprising renters, hosts, and miners, overseen by a dedicated team of developers. The network is built upon the principles of privacy and security, with features that prevent third-party access to stored data. Siacoin's open-source protocol utilizes data sharding techniques and redundancy to enhance data obfuscation and retrievability, making it a highly affordable and reliable data storage solution.

Resources

Whitepaper: https://sia.tech/sia.pdf

Official Website: https://sia.tech/

How Does Siacoin Work?

Siacoin operates through a unique system where anyone with extra storage space on their computer can become a host, offering storage solutions to renters in a contractual agreement. The platform employs file sharding technology, where files are split into multiple segments and distributed globally to various storage providers. This process not only accelerates transfer speeds but also ensures data redundancy, preventing single points of failure.

Before being uploaded to the network, files are encrypted using Siacoin's Threefish algorithm, guaranteeing that only the data owner can access the stored information. This encryption process stands as a stark contrast to conventional cloud storage providers, where encryption is not always the default option, and keys are often held by the service provider.

Siacoin's network is underpinned by smart contracts that facilitate agreements between hosts and renters. These contracts detail the storage duration, pricing, and other parameters, with hosts required to provide regular proofs of storage to maintain transparency and trust within the network. Payments within the ecosystem are facilitated using the SC token, fostering a seamless transaction process.

What Is SC Token?

The SC token, or Siacoin, is the central currency powering the Sia network. This utility token facilitates transactions within the marketplace, with renters using SC to pay for storage space and hosts receiving payments in SC for offering their services. Siacoin also features a secondary token known as Siafunds, which serves as a revenue-sharing mechanism within the network. Siafund holders receive a portion of Siacoins as rewards upon the completion of contracts, fostering a sustainable ecosystem that encourages continuous growth and development.

Siacoin's Impact on Finance

In the broader financial landscape, Siacoin stands as a testament to the transformative potential of blockchain technology. By offering a decentralized and encrypted storage solution, Siacoin is paving the way for a new era of data security and privacy. Its innovative approach to cloud storage not only challenges the dominance of established players but also presents a more affordable and secure alternative for individuals and businesses alike.

Furthermore, Siacoin's decentralized nature promotes financial inclusivity, allowing anyone with extra storage space to earn passive income through the network. As the demand for secure and private data storage solutions continues to grow, Siacoin is poised to play a significant role in reshaping the financial dynamics of the digital age..

What Determines Siacoin's Price?

In the dynamic world of cryptocurrency, the Siacoin price today is influenced by a myriad of factors that potential investors keenly observe through meticulous Siacoin (SC) price analysis and detailed Siacoin technical analysis. One of the primary determinants of the evolving Siacoin price prediction is its utility within the Sia network, a decentralized cloud storage platform. The current Siacoin value is closely intertwined with its role in facilitating transactions within the network, where it functions as the medium of exchange for various services and features. Users looking to secure data storage on the Sia network acquire the necessary space utilizing Siacoin tokens, thereby driving demand and potentially influencing the Siacoin price in USD or Siacoin price in BTC.

The Siacoin market cap, significantly noted at over 160 million SC tokens as of this writing, remains a critical factor that experts scrutinize when crafting Siacoin investment strategies. Investors and enthusiasts often maintain a close watch on the Siacoin price history and Siacoin price graph to gauge the potential Siacoin future price, formulating informed decisions based on trends and patterns noticeable in the Siacoin daily price fluctuations.

Moreover, developments within the Sia network and its affiliated platforms, like Skynet - a decentralized file-sharing and content delivery platform built atop Sia - can significantly influence the Siacoin price forecast. Innovations and upgrades within the network, as highlighted in the latest Siacoin news, can encourage increased user engagement, potentially driving up the demand and, consequently, the SC token price. As the network undergoes transformations to offer enhanced features and security measures, it could boost investors' confidence, reflecting positively on the Siacoin price predictions for 2023 and beyond. Like any other cryptocurrency, it remains essential for potential investors to conduct comprehensive research and analysis, staying updated with Siacoin historical data and market trends to make well-informed decisions regarding their Siacoin investment.

Show more
Current price:
All-time high:$0.1117
All-time low:$0.{4}1131

SC supply and tokenomics

Circulating supply:57,740,390,000 SC
Total supply:57,769,785,000 SC
Max supply:0 SC
Market cap:$240.24M
Fully diluted market cap:$240.37M

Links

Buy Siacoin for $1Buy SC now

What is the development prospect and future value of SC?

The market value of SC currently stands at $240.24M, and its market ranking is #178. The value of SC is widely recognized by the market. When the bull market comes, the market value of SC will likely continue to increase.

Moreover, if SC can play a greater role in practical applications, such as Siacoin builders fully leveraging the potential of SC, partnering with more businesses, and increasing its user base, the long-term value of SC will be significantly enhanced.

What will the price of SC be in 2025?
Based on SC's historical price performance prediction model, the price of SC is projected to reach $0.005106 in 2025.
What will the price of SC be in 2030?
In 2030, the SC price is expected to change by +2.00%. By the end of 2030, the SC price is projected to reach $0.01444, with a cumulative ROI of +222.37%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of SC and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is SC worth investing or holding? How to buy SC from a crypto exchange?

If you want to buy SC, the following information may be helpful for your investment decisions:
In the last 7 days, the price of SC has fallen by -10.15%, leading to negative returns for most SC investors. The market is currently pessimistic about the price trend of SC.
It is important to note that the current price of SC has retreated by -96.28% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether SC is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in SC or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of SC, if you want to buy or sell SC, you can consider Bitget for your trading needs. The best place to buy SC is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Siacoin has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Siacoin. Here's a step-by-step guide on how to buy Siacoin on Bitget.

How to get Siacoin through other methods?

Using cash to buy Siacoin is not the only way to obtain Siacoin. If you have the time to spare, you can get Siacoin for free.
Learn how to earn Siacoin for free through the Learn2Earn promotion.
Earn free Siacoin by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Siacoin airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Siacoin through Bitget Convert, Bitget Swap, or spot trading.

What is Siacoin used for and how to use Siacoin?

The use case of Siacoin may expand as the crypto market and the project itself develop. Currently, you can use SC to achieve the following goals:
Arbitrage by trading SC: Since SC is a frequently traded cryptocurrency, the price of SC is always fluctuating. Earn more SC by buying low and selling high on the exchange. Bitget spot market provides a variety of SC trading pairs to fully meet your needs.
Earn by staking SC: You can also generate income through financial management methods such as staking SC or lending SC. Bitget Earn offers a variety of financial products designed to help you earn more income from your SC.
Send or pay SC: If you want to give SC to your friends, a charity, or a fundraiser, or you want to pay someone with SC, you can quickly and easily send SC to the recipient through their payment address.
You can also go to the official website of the Siacoin project to learn more about the use cases of SC. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Siacoin Wiki

Learn more about Siacoin

Learn about other cryptos

Recently added coin prices

More
A selection of recently added coins

Trending coin prices

More
Assets with the biggest change in unique page views on Bitget.com over the past 24 hours

Where can I buy Siacoin (SC)?

Buy crypto on the Bitget app
Sign up within minutes to purchase crypto via credit card or bank transfer.
google download badgeios download badge
Trade on Bitget
Deposit your cryptocurrencies to Bitget and enjoy high liquidity and low trading fees.