Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.
Sia uses a new cryptocurrency, called the siacoin.
The most important features of Sia can only be accessed by using siacoins. All storage contracts and all Sia payment channels require owning siacoins. This requirement means that as Sia grows in usage, so too will demand for siacoins.
As demand grows, the price will increase. If Sia is being used for billions of dollars of storage, billions of dollars of siacoins will be required. The value of the siacoin is inextricably tied to the amount of storage in use on the Sia
network.
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