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Things To Know About Siacoin
Things To Know About Siacoin latest news, images, analysis about Other noteworthy advantages are: Low priced storage – compared to its competitors, Siacoin will offer lower storage fees than other cloud-based services Encrypted data – all of the files in the network are encrypted and secure while being accessible only to the renter
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FAQs for Things To Know About Siacoin
What is siacoin (siacoin)?
Siacoin has been appearing in the news a lot recently. But what is it exactly? Siacoin is a blockchain service for storing personal data files on a distributed network.
How much data storage will 45 siacoins (siacoin) buy?
We know that the tokens are trading for $0.02 each, but in terms of data storage what will that buy you? According to this site that calculates the storage rates, 45 Siacoins will buy 1TB of storage for one month. That means current rates are just $0.90 per TB per month.
Can You Mine siacoin?
Siacoins, in addition to earning them from providing storage space, can also be mined. An ASIC machine came out recently called Obelisk. This device is the first of its kind and allows for mining of both Siacoin and Decred, which both use the same algorithm. The device sells for a price of $2,499.
Is there a cap on the supply of siacoin coins?
Currently, there is no maximum cap on the supply of SC coins and there are no intentions of putting one. The network uses a Proof of Burn mechanic, which at a certain interval burns coins out of circulation. Siacoin can be quite forward thinking in its field.
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