Siacoin (SC) currently has a price of $0.017 and is up 2.47% over the last 24 hours. The cryptocurrency is ranked 87 with a market cap of $985.3M. Over the last 24 hours, it saw $35.2M of trading volume. The token has a circulating supply of 56.5B tokens out of a total supply of 56.5B tokens.
Siacoin (SC) is a decentralized cryptocurrency that powers the Sia network, a blockchain-based storage platform. It provides secure and private data storage at lower costs compared to traditional cloud storage providers. SC operates on a proof-of-work consensus algorithm, ensuring secure and transparent transactions. Sia employs a network of storage providers who offer their unused hard drive space in exchange for SC, allowing users to rent storage at competitive prices while maintaining data encryption and decentralization. Additionally, Siacoin supports smart contracts for storage contracts.
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