- Sia is a decentralized #cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers. - The only difference is Sia uses blockchain to facilitate transactions Nodes provide storage to clients using the Sia blockchain as contracts. - Before storing the data, the data is encrypted into many pieces and uploaded to different hosts. - Siacoin is created by David Vorick and Luke Champine of Nebulous Inc. - As the traditional storage platforms are higher in cost, more expensive and data is not well protected. - Siacoin promises to offer secured storage transactions with smart contracts which is more affordable and reliable. - Moreover, it is completely open source which means many individuals have contributed to Siacoin’s software hence there will be an active community building innovative applications on top if the Sia API. - In 2018, Siacoin aims to introduce file sharing and be the goto cloud storage platform for companies. - Their goal is divided into 3 time frames which are shortterm, mediumterm and longterm development. - Shortterm development focuses on file sharing between Sia users. - This allows Sia users to share files in the platform without having to take it off the cloud while increasing network utilization. - Mediumterm development’s goal is to enhance partnerships. - This means reaching out to large companies like Netflix and Dropbox to hopefully be able to be their storage and distribution framework. - Lastly, longterm development aims to expand its horizon to share files with nonSia users and support mobile wallets. - .
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