SC

Siacoin price

SC
|
3.3/5
CyberScope
4.1
05/27/2024
TokenInsight
2.5
11/21/2022
The rating provided is an aggregated rating collected by OKX TR from the sources provided and is for informational purpose only. OKX TR does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX TR does not guarantee any return, repayment of principal or interest. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
Show more
USD
USD
$0.0071366
-1.54%
1h
24h
1W
1M
1Y
All

Siacoin price live data

The current price of Siacoin is $0.0071366. Since 00:00 UTC, Siacoin has decreased by -1.53%. It currently has a circulating supply of 57,290,562,119 SC and a maximum supply of 57,316,485,000 SC, giving it a fully diluted market cap of $409.51M. At present, Siacoin holds the 101 position in market cap rankings. The Siacoin/USD price is updated in real-time.

Siacoin price performance in USD

Time periodChange amount%Chg
Today-$0.00011 -1.54%
7 days-$0.00025 -3.34%
30 days-$0.00043 -5.67%
3 months-$0.00218 -23.42%

Siacoin market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.0070867
Last price $0.0071366
24h high$0.0073505
Heat index ranking
181
Market cap ranking
101
Market cap
$409.51M
Favorited rate
Percentage of users who favorited this asset to all users
1.28%
All-time high
$0.062790
-88.64% (-$0.05565)
Apr 17, 2021 (3 years ago)
All-time low
$0.00074000
+864.41% ($0.0063966)
Mar 13, 2020 (4 years ago)
ICO date
07/03/2015
ICO price
The price at which this crypto was first traded
$0.000046000
Circulating supply
The amount of this crypto that is publicly available in the market
57,290,562,119 SC
Market cap at circulating supply
Market cap = Circulating supply × Last price
$409.70M

About Siacoin (SC)

The cryptocurrency industry experienced a notable shift with the recognition of blockchain's data storage capabilities. This unveiled fresh opportunities for secure and decentralized information storage, offering an alternative to centralized cloud solutions. Unlike company-controlled centralized options, which raise privacy uncertainties, blockchain technology, as seen in projects like Siacoin (SC), addresses these concerns and fosters a more transparent approach to data storage.

What is Siacoin

Siacoin operates as a decentralized cloud storage platform built on blockchain technology. It aims to establish a reliable and secure marketplace for cloud storage services, eliminating the need for trust between participants. Through Siacoin, users have the opportunity to monetize their unused storage space by offering it for rent and receiving compensation in return.

The project's overarching objective is to disrupt traditional storage solutions by providing a superior alternative. Siacoin positions itself as a formidable competitor to industry giants such as Google, Microsoft, and Amazon. Additionally, its decentralized structure enables it to offer competitive storage rates, further distinguishing itself in the market.

The Siacoin team

Siacoin originated in 2013 through the efforts of David Vorick, a computer science student at Rensselaer Polytechnic Institute. During his studies, Vorick shared his concept with Luke Champine, who became involved in the project after Vorick presented it at a HackMIT hackathon. 

Vorick and Champine also established Nebulous, which served as the primary developer for Siacoin until 2021. The Sia Foundation was established to oversee the project's ongoing development.

How does Siacoin work

Siacoin allows users to share their surplus storage space with those in need, creating a decentralized marketplace for storage leasing. Through the utilization of smart contracts, all transactions and agreements within the platform are executed autonomously. The project's native token, SC, serves as the means of exchange for these transactions.

Before files are uploaded to the platform, Sia breaks them down into 30 subsection, each of which is encrypted. This ensures the platform is not susceptible to a single point of failure. Furthermore, Sia adopt another piece of technology called erasure coding. This helps provide users with constant access to their files, even if 20 out of 30 hosts are offline. 

Siacoin’s native token: SC

SC, the native cryptocurrency of Siacoin, was introduced to the market in July 2015. It does not have a maximum supply or a capped limit. Currently, the total supply of SC stands at 54.43 billion, with a circulating supply of SC is approximately 54.40 billion SC.

SC token use cases

The primary utility of the SC token is to facilitate exchanges between users who provide and utilize storage space on the Siacoin network. These transactions are executed through smart contracts, eliminating the need for direct user interaction. In addition to its role as a medium of exchange, the SC token can be used for staking and trading.

Siacoin: The storage layer of the internet

Although centralized cloud storage has revolutionized the way people store and exchange information, it is not without significant drawbacks. The most prominent issue is its centralized nature, which poses security vulnerabilities and makes it susceptible to attacks. 

In contrast, while Siacoin is not entirely immune to flaws, it offers a considerably more private and secure alternative. Additionally, Siacoin boasts the advantage of low costs associated with utilizing its storage space. These combined factors position Siacoin as a potential frontrunner in the future of online data storage.

SC FAQ

What is Siacoin (SC)?

Siacoin (SC) is a blockchain-based decentralized cloud storage platform. Rather than providing its own storage, the platform allows community members to offer their storage space for leasing. In return, they receive payments for sharing their resources.

What are the benefits of using Siacoin?

Using Siacoin offers several advantages, including enhanced security for storage spaces and the data stored within. Additionally, it provides a more cost-effective storage solution compared to traditional cloud services. Moreover, Siacoin rewards users who contribute their excess storage space, creating an incentivized and collaborative ecosystem for storage sharing.

Where can I buy SC tokens?

Easily buy SC tokens on the OKX TR cryptocurrency platform. OKX TR’s spot trading terminal includes the SC/USDT trading pair.

You can also buy SC with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Additionally, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for SC with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into SC, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.