Review on Siacoin by Mr Benji

Name: Siacoin
Item: Siacoin
Rating: 4

June 22, 2019

Siacoin

Siacoina mining
Siacoin is a crypto-proof Proof of Work, which means that the mining process takes place in it. The cryptographic algorithm in SC is Blake2b, currently used only in this cryptographic. Until October 31, 2018, SC could be excavated using ASICs from Bitmain (AntMiner A3) and Innosilicon (SiaMaster S11), and from software version 1.3.6 only using GPUs (graphics cards) and ASIC Obelisk SC1 excavator.

The average block time is 10 minutes, similar to BTC.

Siacoin is crypto-inflationary,in order to reduce inflation, the Proof of Burn algorithm is used, which requires the hosts (providing storage space) to destroy from 0.25% to 2.5% of their profit.

Proof of Storage: 
To start sharing your own disk space for other users, you must first create a full node wallet using the Sia UI application, with a balance of at least 2000 SC. The minimum free disk space for a host is 100 GB. Next, the user sets fees for the receipt and storage of data, while his offer appears in the list of nodes. If the network user decides to rent a host disk space, the host receives a fixed remuneration in SC for that.
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Updated 5 years ago

Rating has not been changed

Sia Roadmap 2019 Update-
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1) In the short term, they want to achieve 
-User Experience Improvements
-Developer Features
-Infrastructure
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2) In the long term
- file sharing and to enable multi-device file systems.
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