Siacoin ( SC )
Siacoin project started as an idea back in 2013 at HackMIT, which is a hackathon hosted at the Massachusetts Institute of Technology. The idea is simple, allow anyone to rent out their storage space and in return reward them for their contribution.
Today’s cloud storage services are mostly centralized and the data is stored on a third party server. With Siacoin, the storage would be decentralized as each user would contribute their own share of resources.
Sia’s main objective is to introduce storage into the shared economy. Sia’s team believes that it is possible to free the unused storage of the world and unite it in a free market. Under this configuration, the data is distributed across a vast network.
The Sia platform is open source under the MIT license and presents us with a new storage platform where the customer has complete control of their data.