Siacoin

Siacoin is the native token of Sia, a decentralized cloud storage network launched on 6 June 2015 that allows individuals and businesses to rent unused hard-drive space from other participants rather than from a centralized company such as Dropbox or Amazon. The project aims to address the cost and data-privacy concerns associated with traditional cloud storage by replacing a central intermediary with a peer-to-peer marketplace secured by a blockchain. Clients who need storage and hosts who supply it interact directly through the Sia network.

Sia operates as a Layer 1 proof-of-work blockchain using the Blake2b hashing algorithm and produces a new block roughly every 10 minutes. When a client wants to store a file, the data is first encrypted and then split into many pieces that are distributed across multiple storage hosts, with the terms of each arrangement encoded in a smart contract on-chain. Siacoin is the medium of exchange within this system: clients lock it into contracts to pay hosts, and hosts stake it as collateral to demonstrate commitment to fulfilling those contracts.

Fee revenue in the Sia ecosystem flows between storage clients and hosts rather than being collected by a central protocol treasury, so there is no protocol-level fee stream captured in this data set. Clients pay hosts in Siacoin for storage services, and hosts earn those coins upon successful contract completion. Because no protocol fee is recorded here, fee-based valuation ratios that this site might calculate for other assets are not applicable to Siacoin. The circulating supply stands at roughly 49.75 billion SC, representing 100 percent of issued supply with no remaining dilution overhang, and there is no published maximum supply cap.