Question 1

What is Siacoin (SC)?

Accepted Answer

Siacoin (SC) is the native cryptocurrency that powers the Sia platform. Sia is a robust decentralized storage platform where users globally contribute disk storage from their computers to create a decentralized network. This active project focuses on providing users with a secure and affordable cloud storage solution that prioritizes privacy and reduces dependency on centralized data centers.

Question 2

How is Siacoin Used?

Accepted Answer

Siacoin serves as a medium of exchange in the Sia network, mainly used to rent storage from hosts. This process is executed through smart storage contracts recorded on the Sia blockchain. The smart contract ensures that payment is released to the host only after they have securely stored the client's file for a predetermined duration. If the host loses the file before this period, they are not paid, thereby creating an incentive for hosts to reliably store files.

Question 3

Who is Behind Siacoin?

Accepted Answer

Siacoin was developed by David Vorick and Luke Champine, the founders of Skynet Labs, formerly known as Nebulous. Vorick and Champine first conceived the idea for the decentralized file storage network at a hackathon held at MIT in 2013 when they were computer science students at the Rensselaer Polytechnic Institute in New York. Following the hackathon, they pursued this idea and eventually launched Sia, with Siacoin as its native token. The company later rebranded to Skynet Labs to focus on Skynet, a decentralized application hosting and storage platform aimed at building a decentralized internet.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	SC-USDT SCUSDT	binance	AA	0.0₃9140USDT	0.88%	1,634,928,926.00SC	21,352	0.0₃9060USDT	0.0₃9670USDT
2	SC-USDT SCUSDT	bybit	A	0.0₃9134USDT	0.96%	93,711,214.80SC	11,853	0.0₃9047USDT	0.0₃9705USDT
3	SC-USDT SC_USDT	gateio	A	0.0₃9142USDT	1.11%	59,258,218.00SC	6,249	0.0₃9042USDT	0.0₃9661USDT
4	SC-USD SCUSD	kraken	AA	0.0₃9120USD	1.11%	51,290,181.14SC	1,531	0.0₃9020USD	0.0₃9730USD
5	SC-USD SC_USD	cryptodotcom	AA	0.0₃9123USD	1.30%	14,151,700.00SC	340	0.0₃9006USD	0.0₃9555USD
6	SC-EUR SCEUR	kraken	AA	0.0₃8210EUR	1.11%	11,329,103.58SC	172	0.0₃8120EUR	0.0₃8630EUR
7	SC-BTC SCXBT	kraken	AA	0.0₇1110BTC	3.74%	831,467.20SC	13	0.0₇1070BTC	0.0₇1150BTC
8	SC-KRW KRW-SC	upbit	B	1.22KRW	1.67%	5,432,945,492.33SC	10,672	1.20KRW	1.30KRW
9	SC-USDT SC_USDT	poloniex	C	0.0₃9190USDT	1.77%	1,879,796,417.15SC	52,789	0.0₃9030USDT	0.0₃9640USDT
10	SC-USDT SC_USDT	coinw	-	0.0₃9140USDT	0.88%	541,520,120.25SC	4,276	0.0₃9060USDT	0.0₃9640USDT
11	SC-KRW SC_KRW	bithumbkorea	-	1.20KRW	-0.08%	471,510,025.22SC	6,369	1.20KRW	1.27KRW
12	SC-USDT SC_USDT	bydfi	-	0.0₃9150USDT	1.10%	351,822,938.00SC	3,581	0.0₃9050USDT	0.0₃9640USDT
13	SC-USDT sc_usdt	xtpub	-	0.0₃9140USDT	0.88%	287,380,991.00SC	4,515	0.0₃9060USDT	0.0₃9670USDT
14	SC-USDT scusdt	huobipro	C	0.0₃9040USDT	1.92%	223,762,094.08SC	3,442	0.0₃8870USDT	0.0₃9490USDT
15	SC-USDT sc_usdt	digifinex	D	0.0₃9170USDT	1.10%	79,228,647.00SC	6,539	0.0₃9070USDT	0.0₃9620USDT
16	SC-USDT SCUSDT	mexc	C	0.0₃9153USDT	1.19%	71,160,719.51SC	3,213	0.0₃9045USDT	0.0₃9638USDT
17	SC-USDT SC-USDT	bigone	-	0.0₃9200USDT	1.10%	52,113,463.30SC	4,551	0.0₃9100USDT	0.0₃9600USDT
18	SC-EUR SCEUR	bit2me	B	0.0₃8210EUR	1.23%	11,329,103.58SC	172	0.0₃8110EUR	0.0₃8630EUR
19	SC-USDT SCUSDT	bitrue	D	0.0₃9130USDT	0.77%	10,819,139.00SC	3,243	0.0₃9060USDT	0.0₃9670USDT
20	SC-INR SCINR	coindcx	-	0.09123INR	-1.90%	1,118,172.82SC	51	0.09300INR	0.09560INR
21	SC-BTC BTC-SC	upbit	B	0.0₇1000BTC	0.00%	0SC	0	0.0₇1000BTC	0.0₇1000BTC
22	SC-USDT USDT-SC	upbit	B	0.001192USDT	28.30%	628.12SC	1	0.0₃9291USDT	0.001192USDT