Siacoin

Siacoin is the native token of Sia, a decentralized cloud storage network launched in June 2015 that allows individuals to rent unused hard-drive space to others in exchange for payment. Rather than uploading files to a company-controlled server, users store data across a distributed network of independent hosts, with the goal of making storage more private and less reliant on centralized providers. The project targets both individual users and businesses that want an alternative to traditional cloud storage services such as Dropbox or Amazon S3.

Sia runs on its own proof-of-work blockchain using the Blake2b hashing algorithm, producing a new block roughly every 10 minutes. When a client wants to store a file, the data is first encrypted and split into many fragments that are distributed across multiple hosts, with the terms of each storage arrangement encoded in a smart contract on the Sia blockchain. Siacoin is the medium of exchange within that system: clients lock coins into contracts to pay hosts, and hosts post collateral in Siacoin to guarantee they will serve the data for the agreed period.

Fee revenue in the Sia system flows between storage clients and hosts rather than to a central protocol treasury; clients pay hosts in Siacoin for fulfilled storage contracts, and hosts earn those coins as compensation for providing space and bandwidth. The data stored here does not include a protocol-level fee stream, so fee-based measures such as protocol revenue or fee yield are not available for this asset on this site. With no maximum supply defined and 100 percent of the circulating supply already issued as of the point-in-time reading, there is no remaining scheduled emission creating dilution overhang, which is reflected in the dilution overhang figure of 0.0 percent.