ASIC cards threaten the network security, cryptocurrency developers concerned.
Siacoin is explained as a digital decentralized storage platform. It provides an access to encrypted storage in the blockchains public ledger where user can hold any information he’d like. It’s very easy to define Siacoins idea. Siacoin takes common centralized cloud storage like DropBox or Amazon and distribute it to the shared decentralized network.
Siacoin aims to make a free market-based network by providing hosts with a huge options pack, lie setting your own prices, advertising, compensations in the case of losing information and an ability to choose whether to provide storage to a client. To encourage hosting Siacoin compensates hosts job with Siacoin token – SC coin. If all the terms of client and hosts are agreed upon, file contract is drafted so while info is stored in host server, all the info about that transaction is kept in Siacoins blockchain.
- Facebook Registers New Fintech Firm in Switzerland
- Circle Releases Another Attestation Report on Stablecoin USDC’s USD Reserves
- Coinbase Earn Now Available to the Public in Over 100 Countries
- Russian Sberbank Demands Client Provide Data on Cryptocurrency Revenue
- Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 17