Dear friends, as we talked in the first part now we will cover the news and next steps that the Sia project will take !
Let's go !
First things first :
Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network. Anybody with siacoins can rent storage from this network, and hosts are paid for their contributions. A combination of smart contracts, erasure coding, and encryption ensure secure, private,
and reliable decentralized storage
https://coinmarketcap.com/currencies/siacoin/#social
Right now they are finding themselves at rank14 on coin market cap with a token price of : $0.018516
On Twitter they posted on 20th June that the OBELISK SC1 that is supposed to be the first ASIC built for Sia mining according to the official tweet from Sia Tech (@SiaTechHQ). There are no more details revealed at this point, though more information should be made available by the end of the week.
We will have to see in the near future what SiaCoin will actually announce and what their upcoming Obelisk SC1 will offer, but the initial user feedback is not that positive as one would expect. Switching to ASIC mining can actually result in negative results with GPU miners moving away switching to other altcoins and not getting into ASIC mining SC.
What is an ASIC ?
An ASIC. or application-specific integrated circuit, is basically a microchip that's specifically designed to process one kind of thing. BTC ASICs came around first, and had the ability to dwarf the hashrate of existing GPUs while staying more power efficient. Nowadays BTC mining farms are built on ASIC technology, and other SHA-256 based coins can be mined on ASIC hardware as well.
ASICs are sold often times as essentially little compact PCs ready to plug in, set up and mine. They also come in USB dongles. At the time of this article it seems that the prebuilt units are quite hard to come by, and are selling for a premium used.
Another post on their blog by Zack Herbert their VP of OPS commented that the problems with the main exchanges were removed
"For the past month we’ve been working closely with Poloniex and Bittrex to fix wallet issues that were preventing deposits and withdrawals. It appears things are now starting to function as expected. Bittrex withdrawals have been working for several days, and Poloniex is clearing out its backlog of failed withdrawals. Most new Poloniex withdrawals are successful, and many users are receiving withdrawals from weeks ago.
Thank you all so much for your patience and support as we worked with the exchanges to fix the issues. In this post, we will explain what went wrong, how we responded, and what we are doing to make sure these issues don’t reoccur anytime soon."
What is next in the near future for Siacoin ? I will paste their roadmap for you to have a look!
But as Zack Herbert commented one week ago their next steps will be :
"We’ll be increasing the size of the transaction pool from 2mb to 5mb, with the ability to automatically grow further if there are large quantities of high-fee transactions. We will also be creating a fee market, similar to Bitcoin, so that miners can prioritize transactions based on fees. With the upgrades implemented, the Sia network should be able to safely scale by an order of magnitude.
These scalability upgrades are a main priority, and will be included in the v1.3.0 Capricorn release later this month, along with other important features like remote file repair — which will allow Sia serve as a viable cloud backup solution. In order to experience these scalability upgrades, a large portion of Sia users will need to upgrade to v1.3.0 upon its release.
Once again, thank you all so much for your patience and support in this time of extreme growth!"
Sia is one of the few blockchain companies that are very open and straightforward about their road map (Sia's looks quite promising). Within the next release (this month), the company says it will have a working simple file-sharing system live on its platform.
We will see how it handles itself along the road against STORJ and MaidSafe the other competitors for a piece of the cloud storage pie.
I will comeback later this day with the report about STRATIS
Have fun and good luck out there my dears !!!
DISCLAIMER : The post has been prepared solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this post do not constitute investment advice and independent advice should be sought where appropriate