SC Price Live Data
The Siacoin price today is $0.005072 USD with a 24 hour trading volume of $23.73M USD. Siacoin (SC) is up 5.11% in the last 24 hours.
Siacoin (SC) is a blockchain service which enables the trade of free hard drive space between users on its network. Users can sign up to rent out their spare storage space, which can then be bought up by renters who pay a small fee in return. Siacoin uses smart contracts and encryption, as well as their native token, the Siacoin, or SC token, which is used as a placeholder for the amount of data used.
Siacoin is the creation of Nebulous Inc, a group headed by David Vorick and Luke Champine. Their goal was to create a self-sustaining blockchain storage system which would exceed the reach of authorities and hackers, while growing organically over time.
Since SC tokens are linked to file storage on the blockchain, their value is intrinsically tied to the amount of storage space the Siacoin project ends up providing. So if the storage service becomes a success, the value of the token automatically grows and storage space becomes cheaper.