Siacoin

Siacoin is the native cryptocurrency of Sia, a decentralized cloud storage network whose mainnet launched in 2015. On Sia, storage contracts logged on the blockchain are formed between users who want to rent storage space (renters) and providers offering disk capacity (hosts). Files are encrypted on the client side, split into pieces and distributed to different hosts using error-correcting codes, so that the data can be recovered even if some hosts go offline.

SC is used by renters to pay hosts; hosts in turn lock SC as collateral in contracts and can lose that collateral if they are found not to be storing the data. Sia has its own proof-of-work blockchain, and its mining uses an algorithm based on the Blake hash family. Software development for the network is carried out by the non-profit Sia Foundation.

On Lzzo.com, the Siacoin price is presented as a US dollar reference calculated from the Binance USDT pair and Coinbase's USDT/USD conversion; it is for information only.