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 provider such as Dropbox or Amazon. The project aims to lower the cost of data storage and improve privacy by encrypting and splitting files across multiple independent hosts before they are stored. It is designed for anyone who wants to store data or earn income by contributing storage capacity.

Sia runs on its own Layer 1 blockchain that uses the Blake2b proof-of-work consensus algorithm, producing a new block roughly every 10 minutes. When a client wants to store a file, their data is encrypted and fragmented, then distributed across multiple host nodes under smart-contract-based storage agreements recorded on the Sia blockchain. Siacoin is the medium of exchange inside this system: clients pay hosts in SC under these contracts, and miners receive SC as a block reward for securing the network.

Fee revenue on Sia flows from storage clients to the host nodes that provide capacity, with SC serving as the payment token; the protocol itself does not retain a centralized fee stream, so there are no protocol-level fee figures stored for this asset. Because 100 percent of the circulating supply of 49,751,295,000 SC has already been issued and there is no recorded maximum supply cap, dilution overhang sits at 0 percent and the fully diluted valuation equals the market capitalization of approximately 43,356,077 USD at the time of this snapshot. The absence of a protocol fee stream means fee-based valuation measures used elsewhere on this site are not applicable here.