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Siacoin (SC) is not tradable on Coinbase.

Data is sourced from CoinMarketCap and other third parties. We make no representation on the accuracy of the data provided. Learn more

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Siacoin

SC

About Siacoin

Siacoin is a cryptocurrency that powers the Sia network, a decentralized cloud storage system that lets anyone rent out spare hard drive space or utilize other people’s spare hard drive space to store files.

Siacoin (SC) is a decentralized platform for cloud storage to compete with existing storage solutions at both the P2P (peer-to-peer) and enterprise levels. The core goal of the platform is to bring decentralization to data storage. The platform strives to ensure that the data is protected against censorship theft and the user is never denied access to the data by miners, hackers, government bodies, or developers. On the network, peers rent storage from each other instead of a centralized provider. Further, the platform itself stores only the storage contracts formed between parties, defining the terms of their arrangement.

According to the Sia documents, the network is secured by blockchain technology and is a variant of the Bitcoin protocol that has created a data storage marketplace. Primarily, the platform connects users who need storage to the hosts providing underutilized hard drive capacity. Sia network comprises a renter, a host, and contracts to facilitate the connection. A renter uploads the files to the network, and the host lends their storage space for uploading the files on the network. Eventually, contracts are formed between renters and hosts.

Explicitly, the network uses an M-of-N multi-signature scheme for all transactions, renouncing the scripting system entirely. Further, this reduces complexity and attacks the surface. M-of-N transactions are referred to as multisig transactions. In such transactions, M is the required number of signatures or keys, and N is the total number of signatures or keys involved in the transaction. Additionally, at least two signatures must approve the transaction between three addresses in a multisig transaction. The Sia network works systematically to facilitate these transactions and follows the subsequent steps:

Luke Champine and David Vorick conceived Sia network at HackMIT in 2013. At that time, Champine and Vorick were studying computer science at Rensselaer Polytechnic Institute. In 2014, Nebulous, Inc. was established by Champine and Vorick, and Sia is a product of Nebulous, Inc. Nebulous, Inc. is based in Boston and was rebranded as Skynet in 2021. 

The whitepaper of the Sia network was released on November 29, 2014.

Notably, Siacoins are given as block rewards only. These SC tokens work on the Sia proof-of-work consensus mechanism blockchain.   

Mining on cryptocurrency networks contributes computing power to help process and verify transactions on that network. The blockchain contains Siacoin transactions and smart file contracts between renters and hosts on the Sia network. Further, miners verify the integrity of the blockchain and are rewarded with Siacoins for their service.

Market

Market stats

Data is sourced from CoinMarketCap and other third parties. We make no representation on the accuracy of the data provided. Learn more

Market cap

$307.6M

Volume (24h)

$8.9M

Circulating supply

57.7B SC

All time high

$0.11

Market performance

Price change (1h)

-1.05%

Price change (1d)

+0.83%

Price change (1w)

+4.58%

Price change (2w)

+23.47%

Price change (1m)

+25.43%

Price change (1y)

+64.5%

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Coinbase Bytes

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Siacoin is on the rise this week.

The price of Siacoin has decreased by 1.05% in the last hour and increased by 0.83% in the past 24 hours. Siacoin’s price has also risen by 4.58% in the past week. The current price is $0.0053 per SC with a 24-hour trading volume of $8.86M. Currently, Siacoin is valued at 95.23% below its all time high of $0.11. This all-time high was the highest price paid for Siacoin since its launch.

The current circulating supply of Siacoin is 57,740,361,722.828 SC which means that Siacoin has as total market cap of 57,740,361,722.828.

FAQ

What is the current price of Siacoin?

We update our Siacoin to USD currency in real-time. Get the live price of Siacoin on Coinbase.

What is the market cap of Siacoin?

The current market cap of Siacoin is $307.59M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Siacoin?

The all-time high of Siacoin is $0.11. This all-time high is highest price paid for Siacoin since it was launched.

What is the 24 hour trading volume of Siacoin?

Over the last 24 hours, the trading volume of Siacoin is $8.86M.

What other assets are similar to Siacoin?

Assets that have a similar market cap to Siacoin include Neo, EOS, IOTA, and many others. To see a full list, see our comparable market cap assets.

How many Siacoin are there?

The current circulating supply of Siacoin is 58 billion.

Can I buy Siacoin on Coinbase?

No, Siacoin is not currently available on Coinbase, but you can sign up to get the latest news on Siacoin and be notified when it gets added to our exchange.