What is Sia?
Sia is a new way to store data and it's going to be huge in the future!
What makes it different to existing cloud storage?
I know many people would have the question:
why not use Dropbox or Google Drive?
Well I have one word that makes you forget the question: security
In 2012 about 67% of user accounts with password where leaked.
Quite shocking right?
With Sia your data isn't being saved in one place.
Here's a little explanation how the data is stored:
- Your files are being split into multiple pieces
- Your files will be encrypted
- Your files will be distributed over a fast growing decentralized network*.
Since your private key is not stored on a server with milions of keys from milions of users you don't have to worry about your keys being hacked.
You have your key so this means you own your data.
Could anyone host my files?
Everyone can be a hoster. If you want to lend 500GB, than you can integrate your 2TB NAS server into the Sia network and start earning Siacoins. Due to the redundancy concept of Sia, the files which are stored on ones persons server, will be stored on another server at another place as well. Only the person who uploaded the file(s) into the cloud will be able to read it like I said, only the owner of the data has the key.
Cheap costs
I think this is an awesome idea to share not used data to people who need it.
And because the data is unused the price of using it is a lot lower then when you buy data from a datacenter.
Datacenters have to pay a lot to their servers and they need to invest in new hardware all the time.
With Sia there is no need to put money into hardware because the hardware is everywhere and the they have a lot of time to improve software.
TRUST
Well you still remember what I told about DropBox?
DropBox only told their users that emails had been leaked.
With Sia all of this is not posible, and the security will continue to get stronger and stronger every second of your life.
Conclusion
Sia has some huge potential, very sure about that.
Companies will be the bigest customers because for a company data is very important.
Not only will Sia face their competators like DropBox and Google Drive, but it will have some huge potential in the back-up market aswell.
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