SiaCoin (SC) appears small on paper but huge in capabilities an argument that the coin critic are opposed to especially now that it is performing dismally in the market. However, the coin impact in the market recently is a plus and investors should not always expect a smooth run.
SiaCoin is in the business of cloud computing and the demand for the service is on the rise. If you got data that you cannot handle, this is the place to store it. The system is secure and your data is stored off-net but can access it 24/7.
Whether you are in healthcare, financial industry or just a blogger or a researcher, you need to think about data storage on a blockchain that is immutable, 100% hacker proof and transparent. You do not have to break the bank to get your data stored safely and conveniently, SiaCoin fees are the lowest in the market.
What is SiaCoin (SC) up to of Late?
SiaCoin (SC) keeps on inching up the market capitalization ranking steadily and is currently ranked 34th. With the market uncertainty and big cryptocurrencies plummeting, the coin has not been spared either. The last few weeks the SC price has been quite volatile and has managed to stay stable for quite some time.
Going by the coins performance in the last 24 hours, there is a ray of hope with the price appreciating among major cryptocurrencies and the USD. The coin is trading at $0.010563 with a slight gain of 2.15% against USD and 4.76% to BTC. The coin exhibits a slight potential to remain stable in the next 48 hours.
These gains might be eroded going by SiaCoin (SC) performance in the last 7 days. On average, the coin has made marginal loses since it started the week on a low of $0.011 to close at 0.010 and these marginal loses might not help the investor make decision based on the direction the coin might take in the next few weeks.
The SC price fluctuation is set to continue as the market continues to recover. However, there is a lot of anticipation that the coin is set to stabilize on a high. With no break out in sight, the coin will have to wait a bit longer for the entire market to get back to the glory days. To get a clear understanding on the SC price, you need to look at what SiaCoin is all about.
SiaCoin is a Storage Platform
SiaCoin as a platform is a data storage “depository’ where individual and large organizations can store their data and other sensitive information. The system allows you to rent space to store yore data and is conveniently retrievable anytime you want. It is just like renting an office space only that it is cloud based.
You can also rent out data space that you do not need and get paid for it. Those looking for storage space will rent yours and you get paid with SC tokens. This can turn out to be a lucrative business if you have a lot of unused space. The platform is smart contract backed and all information is secure.
SiaCoin the Platform Mode of payment
All the transactions on the SiaCoin (SC) platforms are paid for using the SC token. This is the native digital coin accepted on the platform. Since this is storage-as-a-service, you get to pay only for the space you utilize. This makes the currency unit a spendable asset and the platform is the cheapest to store your data or personal information in a digital form.
With SiaCoin, you can share data conveniently and is ideal for healthcare institutions and practitioners who need to share patient data and other sensitive information. Contrary to critics the SiaCoin (SC) will survive the storm and deliver its promises to the investor and consumer.