Review on Siacoin by Pedro O. Alvino M.
Decentralized storage
For a project that currently has acceptable performance, its idea is to provide a blockchain infrastructure for an open and decentralized market for cloud storage. With Sia, anyone can rent storage space, host files, or participate in the network.
To do this, manage transactions on the network, Sia uses its own cryptocurrency, called Siacoin (SC). Like Bitcoin, Siacoin is a digital currency, but is specifically designed for use within the Sia network, in order to buy or sell decentralized cloud storage space
Pros
- All files on the Sia network are cryptographically secure and can only be accessed by the tenant
- Lower-range storage fees than traditional cloud storage platforms.
- It serves as an open market.
- It is in the top 100 crypto assets
- Very accessible.
Cons
- It may not adapt to future conditions in terms of hardware capacity.
- Numerous competitors in the market.
