What is Siacoin?

What is Siacoin?

What is Siacoin that adds a whole new dimension to Blockchain technology?
Today, cloud computing technology is an important part of our lives. Whether we will share a paper with our friends, we will look at the paperwork sent by the client, or simply get a backup of our Whatsapp messages, the technology we use will be cloud computing. Here, using Siocoin blockchain technology, we are confronted with a whole new project for cloud storage, Sia!

The main aim of Siacoin is to prevent high-paying people from keeping their files in the data centers of central companies. You can continue to keep your data in "reliable" companies such as Google, Amazon, Dropbox, but let's not forget that in the past few years, personal photos of people who are not familiar with "iCloud hacklendi" news have leaked to the internet and that your files are in danger at any moment. At this point, the Sia project, which also introduced blockchain technology, allows people to store their files on different users' computers. In short, we can say that Siacoin has emerged as a payment method for cloud storage solutions.

How does Sia technology work?
First of all, users who want to host files on their computer will download the program called Sia UI to their computers and become ready to store files by becoming integrated with the system. Customers who want to keep their files in the Sia network then download the Sia UI again and select the files they want to keep in the cloud and set a fee. This fee then goes to the account of the users on the network called "I store this file on this money" and the files of the customer are encrypted and divided into thousands of pieces and stored on those users' computers. Thus, the customer pays low fees and stores their files in a cloud network where they can access them at any time, and users can earn by renting the space they do not use on their computers.

What if the user closes his computer?
The developers of the Sia project have thought about this and have developed the client's cipher to encrypt and then divide it into thousands of pieces so that each piece can be stored on multiple users' computers in order to avoid such situations. Let's explain the situation with an example for a clearer understanding.

As a customer, you want to store a video you have recorded on the Sia network. You have installed the program, selected your file, indicated the amount you paid in Siacoin and confirmed. Then the program encrypts your video and divides it into 100 parts in encrypted form. Later on the network finds users who say "I am saving this file" and sends these encrypted fragments to 1000 different users. Thus, even if a piece is stored on 10 different users' computers and a computer is disabled in the system, it is still possible to access your files. Also, since the files are encrypted and partly gone to different users, users who store your videowon parts will never reach it. This technology also makes it hard for malicious people to access your videotape because you need to copy 100 tracks from the network and then decrypt and merge them, which is almost impossible.

What is important in the Sia project?
Among the other blockchain solutions, the most important reason why the Sia project stands out is the fact that it is an application that is currently running on this project. So right now you can stop reading this article and download the Sia UI program to store your files, or you can save money by renting the storage space you do not use on your computer. Unlike the Sia project, the vast majority of blockchain projects are currently only in the intellect and are hard to find a product that works in the middle. That's why Sia is leaving the other projects and Siocoin is getting more and more valuable every day.

You can also specify your views about Siacoin in the comment field!