What is Sia?
Sia is a new way to store data and it's going to be huge in the future!
What makes it different to existing cloud storage?
I know many people would have the question:
why not use Dropbox or Google Drive?
Well I have one word that makes you forget the question: security
In 2012 about 67% of user accounts with password where leaked.
Quite shocking right?
With Sia your data isn't being saved in one place.
Here's a little explanation how the data is stored:
- Your files are being split into multiple pieces
- Your files will be encrypted
- Your files will be distributed over a fast growing decentralized network*.
Since your private key is not stored on a server with milions of keys from milions of users you don't have to worry about your keys being hacked.
You have your key so this means you own your data.
Could anyone host my files?
Everyone can be a hoster. If you want to lend 500GB, than you can integrate your 2TB NAS server into the Sia network and start earning Siacoins. Due to the redundancy concept of Sia, the files which are stored on ones persons server, will be stored on another server at another place as well. Only the person who uploaded the file(s) into the cloud will be able to read it like I said, only the owner of the data has the key.
Cheap costs
I think this is an awesome idea to share not used data to people who need it.
And because the data is unused the price of using it is a lot lower then when you buy data from a datacenter.
Datacenters have to pay a lot to their servers and they need to invest in new hardware all the time.
With Sia there is no need to put money into hardware because the hardware is everywhere and the they have a lot of time to improve software.
TRUST
Well you still remember what I told about DropBox?
DropBox only told their users that emails had been leaked.
With Sia all of this is not posible, and the security will continue to get stronger and stronger every second of your life.
Conclusion
Sia has some huge potential, very sure about that.
Companies will be the bigest customers because for a company data is very important.
Not only will Sia face their competators like DropBox and Google Drive, but it will have some huge potential in the back-up market aswell.
If you liked this post or you want to share your opinion feel free to vote and comment.
Follow me @yournews
Great post! I'm thinking about buying SIA
Thanks, and I think you'll get some serious profit from it after a while 🚀
SiaCoin has a very good development team and they are working hard to make it happen. Even so, the only problem I see in them is that they are more like a company rather than an open source team. Anyway great techs worth investment.
I totally agree with you. I think Sia has some great potential and I am already invested in it.
Great to hear and I think you won't regret your investment 🚀
Great article. This is the first time I've read anything related to Sia, sounds very promising. I'm definitely going to look into the coins in more depth!
Thanks, you can search for news on SiaCoin and check the Twitter tags, there's some news on SC.
And I will be making more articles when my finals are done 😃
I'm also studying for my finals, can't wait to get them done and start putting more effort into my Steem articles! I'll keep an eye out for your upcoming articles:)
Succes with your finals ;) I'll follow you and check out your articles while I'm studying my math :D
I tried giving Sia chance but their wallet/client was very bulky and failed to download the blockchain when it was almost 90% done. At this point it took almost a day to get to 90%, a few people have mentioned this similar shortcoming. The idea is nice, but the app needs some work.
I downloaded the client yesterday, It took me 2-3hours to download the blockchain.
From 90-100 took the longest time for me.
Thats the most challenging part, because it crashed and then I had to start all over again. And my internet package is no pushover, I have the highest tier 300 Mbps.
It takes a bit of time at the end but you should HOLD and then it works :)
Really nice article. Gives a good sense of what sia is all about.
Thanks, you are up to date with your currencies I can see, nice profile, gave you a follow
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