Review on Siacoin by Özgün A
Siacoin is the name of the future storage system
It is a decentralized storage system. However, these storage areas are on the blockchain. SiaCoin pays its users rent for the gaps in their hard drives. Those who want to buy cloud storage services also use the hard drives of other computers by encrypting.
In this sense, it innovates on cloud storage systems. It wants to compete with systems such as Google drive and dropbox.
If the purpose of the market launch is to compete with such big companies, it is really difficult. You are new and people don't trust you yet.
Siacoin combines unused storage spaces to create massive storage pools. In other words, it does not depend on a single center.
The past experience of the Siacoin team is quite good. However, Siacoin has a lot of competitors.
Well, this question comes to mind.
Siacoin is a crypto currency, how will people who do not know crypto coins yet use this system?
That's the whole point. The problem starts here. This is why I think Siacoin cannot compete with google drive or dropbox. Those who want to buy Google drive or dropbox can buy it very simply. But how will those who want to buy Siancoin follow, frankly, this raises doubts.
Pros
- Those who sell warehouse space can ask for the fee they want
- There are a number of security measures to protect users
- You can sell your unused HDD space
Cons
- This project may not be legally accepted by governments
- It has a very complex structure, the system is likely to collapse
- Their rivals in this field are very strong
