SiaCoin

SiaCoin(SC)

Sia is an open-source, blockchain-based, decentralized cloud storage platform. Their long term goal is to serve as the storage layer of the internet. This technology connects users who need file storage with hosts who get paid for renting out their disk space. Files are encrypted and stored as tiny pieces on dozens of nodes. Smart contracts are used for management, payment, and operation of this system.
  • Market Cap
    $550.563.485
  • Price
    $0.0158789
  • Category
    File storage
  • Origin
    United States
  • Team Size
    1-10
  • Initial Release
    29/11/2014
  • 10-8 High Potential
  • 8-7 Potential
  • 7-6 Considerable
  • 6-5 Risky
  • 5-0 Scam
Satoshi Rating
  • Product Ratings
    7.8
  • Team Ratings
    7.1
  • Execution Ratings
    6.2
Next Update: June 21, 2018
Product
  • The need for the product ⓘ

    8
  • Total addressable market size ⓘ

    9
  • Product/market fit ⓘ

    8
  • How is the product compared to existing solutions? ⓘ

    9
  • How difficult is to make the product? ⓘ

    8
  • Could this product scale? ⓘ

    7
About Product
Biggest advantage Sia has compared to traditional cloud storage providers is its privacy. You control your private keys, therefore, your own data. A hack in systems like Dropbox could leak many users data, but here you control your own data. Sia is the decentralized alternative to an existing storage system. Sia has lower fees than the most existing systems. However, since Sia doesn't offer every feature of a cloud storage platform it wouldn't be fair to judge based on price.
Team
  • Team's previous experience ⓘ

    7
  • Does the team have a clear vision? ⓘ

    7
  • Is technical team sufficient for building the product? ⓘ

    8
  • Is the team active? ⓘ

    9
  • Is the team size big enough? ⓘ

    7
  • How is the team growth? ⓘ

    7
About Team
Small team, mostly developers. May need more designers, managers, and marketers. Mostly managed by two capable engineers, under development for more than 4 years. Has a strong community. Sia's parent company is Nebulois, Inc. They raised venture capital for Sia's development.
Execution
  • Could this team get the product into a market? ⓘ

    7
  • Could they do it in time? ⓘ

    7
  • Did they meet previous deadlines? ⓘ

    8
  • Is the marketing strategy sufficient? ⓘ

    7
  • Team’s previous achievements ⓘ

    7
  • Strategic partnerships ⓘ

    6
  • Current market size ⓘ

    3
About Execution
At its current state, Sia might be more suitable for some specific enterprise use than for an end user. After the file sharing feature becomes stable we might see enterprise partnerships.
Editor's note

Becoming the backbone storage layer of the Internet is an enormous market. This is a very long-term project. Currently, it has a running network and a product. So for short-term Sia provides a privacy-focused, decentralized and cryptocurrency friendly alternative to the existing solutions. On the other hand, if you trust existing solutions, think that they will continue to improve, and you are not paranoid about privacy then there may not be enough reasons for you to switch platform for a long time.

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Initial Rating: May 24, 2018

Last modified: June 8, 2018