| General information | |
|---|---|
| Global rank: | 784 |
| Name: |
Shark Cat |
| Symbol: | SC |
| Current coin price (GGP): | 0.017 GGP |
| Last hour: | arrow_upward1.79 % |
| Last 24 hours: | arrow_downward-6.08 % |
| Last 7 days: | 23.74 %trending_up |
| Capitalisation (GGP): | 16 500 924.25 GGP |
| Volume 24h (GGP): | 1 444 556.10 GGP |
| Available supply: | 989 895 519.00 SC |
| Total coin supply: | -1 SC |
| Start date: | 2015-06-01 |
Shark Cat/Guernsey Pound (SC/GGP) price chart
Shark Cat/Guernsey Pound (SC/GGP) capitalisation and volume charts
Siacoin (SC) is the native cryptocurrency that powers the Sia platform. Sia is a robust decentralized storage platform where users globally contribute disk storage from their computers to create a decentralized network. This active project focuses on providing users with a secure and affordable cloud storage solution that prioritizes privacy and reduces dependency on centralized data centers.
Siacoin serves as a medium of exchange in the Sia network, mainly used to rent storage from hosts. This process is executed through smart storage contracts recorded on the Sia blockchain. The smart contract ensures that payment is released to the host only after they have securely stored the client's file for a predetermined duration. If the host loses the file before this period, they are not paid, thereby creating an incentive for hosts to reliably store files.
Siacoin was developed by David Vorick and Luke Champine, the founders of Skynet Labs, formerly known as Nebulous. Vorick and Champine first conceived the idea for the decentralized file storage network at a hackathon held at MIT in 2013 when they were computer science students at the Rensselaer Polytechnic Institute in New York. Following the hackathon, they pursued this idea and eventually launched Sia, with Siacoin as its native token. The company later rebranded to Skynet Labs to focus on Skynet, a decentralized application hosting and storage platform aimed at building a decentralized internet.