Siacoin (SC) Wallets / Mining / Exchanges: A Pocket Guide of All You Need to Know about Siacoin

This Guide serves as a crash course for crypto investors to have an all rounded understanding of Sia blockchain and its cryptocurrency Siacoin, yet not too heavy to digest particularly for beginners. Thus, we’d like to call this one a bite-size information of Siacoin; where we’ll break down some of the more complex issues most face when trying to understand cryptocurrency and blockchain technologies in general i.e. buzz words or terminologies, into small yet compact and easy to understand.

Let us do the hard work so you can focus on deciding what matters more to you: To Invest in Siacoin or Not. Sounds cool? 😉

Read on.

The guide incorporates illustrations and examples from real world applications, translated into Siacoin’s very own version, essentially to provide you with a vision on the specific characteristics of Siacoin that are in-common with the current world and much more.

Hopefully with this technique, we’d be able to encourage more readers to identify more hidden gems, value its underlying technology and support its potential growth prospect, not just for Siacoin but other cryptocurrencies in the market. That way, we’d built a healthy cryptocurrency ecosystem based on sound investment decisions, one that supports viable products and services, rather than for speculative means.

So, let’s begin shall we?

Ahh.. wait a minute. Before we jump straight into what Siacoin is, here’s an important question for you.

Does the word “cloud storage” rings a bell to you?

Why, you may ask and how does cloud storage relates to Siacoin?

Well, technically the underlying concept of Sia Blockchain is similar to Cloud Storage. The word “Cloud” refers to the Internet, thus Cloud Storage is defined as a cloud computing model which enables user to store and sync their data to an online server. This allows a user to access files from multiple devices to for viewing and editing, which makes it a great backup alternative to local hard drive.

Data stored here is accessible from various distributed and connected resources. Each platform is managed by a cloud storage service provider on a storage servers. To name a few, Google Drive, Google Cloud Storage, Microsoft OneDrive and Dropbox, Amazon Cloud Drive and Apple iCloud are among some of the reputable cloud storage service providers available in the market.