Siacoin is a decentralized cloud storage platform that aims to protect user data privacy. ⚔️ The Sia network is fully automated, running with minimal human intervention. Let's dive deeper into its network & tokenomics 👇
storage platform that works by using unutilized storage capacities to create a data storage marketplace.Siacoin's goal is to protect the privacy of user data. The Sia ecosystem consists of renters, hosts, miners and a team of developers who are responsible for building on the Sia network and Skynet. The Sia network is fully automated, running with minimal human intervention.Designed as an overall decentralized file-sharing and content delivery platform, Skynet is built on top of Sia.
Once a user successfuly uploads a file on Skynet, he or she does not need to stay online for the file to be available to others. Instead, Sia network takes all the responsibility for the file from that point, including its pinning and providing high retreival speeds: this means that DApps using this service have access to a decentralized storage layer.
After successfully uploading a file on the Sia platform, the file gets divided into multiple parts and encrypted. This file then sent all over the world through different routes, as renters upload the files and hosts store them.
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