What is Siacoin?
Sia is a decentralized storage platform secured through blockchain technology. The Sia Storage Platform leverages underutilized hard disk drive capacity all over the world to make a decentralized data storage marketplace that's less expensive and more reliable than traditional cloud storage providers.
Sia runs on its new cryptocurrency, called the siacoin.The most critical top features of Sia can just only be accessed by utilizing siacoins. On the Sia network all contracts for storage and all Sia payment channels require owning siacoins. This requirement ensures that as service Sia provides grows in usage, so too will demand for siacoins. As demand grows, the purchase price will increase. If Sia will be useful for billions of dollars of storage, billions of dollars of siacoins will be required. The worth of the siacoin is inextricably linked with the total amount of storage being used on the Sianetwork.