Sia digital coin is hosted on central servers, Sia’s digital coin is a blockchain technology that will decentralize file storage and make it open source. Sia will then allow companies to get involved and host their own private decentralized cloud and sell that as a service to their customers. This could in theory drastically reduce hosting and storage costs, and most likely will.
The company behind Sia is Nebulous Inc. Nebulous is based in Boston, Massachusetts, USA.
Sia Team Members
David Vorick (CEO): In addition to being the CEO, he is also the lead developer of Sia Core. He graduated from Rensselaer Polytechnic Institute with a BS in Computer Science.
Luke Champine (Co-Founder): Luke studied at Rensselaer Polytechnic Institute with David. He dropped out of college to work on Sia full-time. He is Sia’s core developer and loves programming.
Johnathan Howell (Sia Core developer): He started programming around age 10. He has an M.A. from Savannah College of Art and Design. He is working on the front-end of Sia to deliver a clean, well-built, and easy to use UX around the core functionality.
Zach Herbert (Head of Operations): He excels at project and product management. He is studying for an MBA at Harvard Business School and graduated from Boston University where he studied mechanical engineering. He started working with the Sia team in January 2017.
The supply mechanism of Sia is somewhat unique. There will be an infinite number of Siacoins. To start with, developers mined the first 100 blocks. The reward for the first block was 300,000 Siacoins. After the first block, the Siacoin reward will exponentially decrease by one unit for subsequent blocks.
It means that the:
1stblock had 300,00 Siacoins
2ndblock had 299,999 Siacoins
3rdblock had 299,998 Siacoins
4thblock had 299,997 Siacoins
After that, for every block mined, 30,000 Siacoins will enter the system. At present, there are 26.7 billion Siacoins available.
Sia digital coin will not be the one accepting payments from customers but instead will allow others to do so on its platform. Sia essentially provides the platform that will have users paying for storage and providers running their own private decentralized cloud. This could the beginning of the “hosting of the future” in which it’s not truly based or entirely reliant on central servers anymore.
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