Siacoin

SC Rank #479

$0.001035▲ 1.87%24h

Low $0.001008High $0.001039

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Market cap$51.49MRank #479

Fully diluted value$51.48M

Volume (24h)$2.39MVol / Mcap 4.64%

Circulating supply49.75BSC

Total supply49.75B

Max supply∞no hard cap

All-time high$0.0929Jan 5, 2018

All-time low$0.00001262Dec 27, 2015

What is Siacoin?

Storage contracts

Sia connects people renting storage with hosts providing unused disk capacity. Renters encrypt files before distributing their data across multiple hosts. Sharding and redundancy allow files to be reconstructed from stored pieces. Blockchain contracts define storage duration, payments and proof requirements. Hosts earn SC for providing the contracted storage.

Siacoin and mining

SC funds storage purchases, host collateral and blockchain transactions. Sia uses proof-of-work mining to produce blocks. Its monetary policy has no fixed maximum supply. The mining reward declined from its original level to 30,000 SC per block. A separate foundation subsidy also creates 30,000 SC per block, paid at longer intervals.

Software and development

The Sia Foundation supports development of the open-source network. Its renterd software manages storage uploads and retrieval for users and applications. Hostd helps storage providers administer capacity, contracts and revenue. Walletd tracks balances and prepares transactions without holding signing keys. Storage payments depend on contract fulfillment rather than a fixed yield for simply holding SC.