siacoin logo
Siacoin
SC
$0.00

Sector

POW

Exchange Debut

2015-08-26

Market Cap

254,590,343

Maxim Supply

Circulating Supply

57,538,086,821

Circ. Supply(%)

siacoin logo

Siacoin

SC

Price

$0.00

Market Cap

Sector

Exchange Debut

254,590,343
2015-08-26

Volume 24h

High 24h

Low 24h

3350598
0.00443701106
0.004238240712

Change 24h

Change 7d

Change 30d

0.5139
-3.8242
-39.6864

Maxim supply

Circulating supply

Circulating supply(%)

57,538,086,821

The opinion of artificial intelligence (AI), based on the fundamental analysis of the Siacoin-SC cryptocurrency:

 

Siacoin (SC) emerges as a promising yet moderately rated player in the domain of decentralized cloud storage, anchored by its blockchain technology. With a cumulative score of 6.29 out of 10 in its fundamental analysis, Siacoin-SC displays a balanced profile, highlighted by its robust product utility and strong partnerships. This analysis delves into the various aspects of the Siacoin-SC project, employing the key phrase fundamental analysis of the Siacoin-SC cryptocurrency to guide our insights.

SOCIAL & MASS MEDIA: Score 6.2 out of 10

Siacoin-SC shows a mixed performance in social and media engagement. Despite its high community activity and media presence, its lower scores in attracting followers and social media administration reflect areas needing improvement. The project’s strong community engagement, however, suggests a solid base of support, vital for long-term growth.

AUDIT & SECURITY: Score 3.4 out of 10

The audit and security aspect of Siacoin-SC indicates significant room for improvement. While transparency and liquidity on exchanges are moderately rated, the lower scores in audit results highlight potential vulnerabilities that could impact user trust and project stability.

TOKENOMICS: Score 7.05 out of 10

The token economy of Siacoin-SC is one of its stronger suits, particularly in its handling of inflation. However, concerns about the centralization of its monetary mass raise questions about the distribution and control of its tokens, which are critical for decentralized projects.

ECOSYSTEM DEVELOPMENT: Score 4.8 out of 10

Siacoin-SC’s development ecosystem displays moderate progress towards achieving its objectives. Future plans for development are present, but the project needs to accelerate its pace to maintain relevance and competitiveness in the fast-evolving blockchain space.

TEAM & DEVELOPERS: Score 5.4 out of 10

The team behind Siacoin-SC possesses decent experience, yet the limited number of software developers suggests potential constraints in the project’s technical advancement and innovation capabilities.

PRODUCT & UTILITY: Score 8.32 out of 10

Siacoin-SC stands out in its product utility. The high utility of tokens within its ecosystem and the product’s usefulness underscore the project’s practicality and potential to offer real-world solutions in decentralized storage.

PARTNERS & INVESTORS: Score 7.95 out of 10

The project benefits from strong backing, with impressive scores in both investor capacity and partner quality. This external support is pivotal for its growth, providing resources and credibility in the market.

Fundamental analysis of the Siacoin-SC cryptocurrency – The final conclusion

Considering the fundamental analysis of the Siacoin-SC cryptocurrency, Siacoin-SC presents a balanced investment opportunity with a potential for growth, particularly in its product utility and partnerships. The project’s moderate overall score reflects a need for improvements in social media engagement, security, and ecosystem development. The tokenomics indicate a well-managed inflation rate, although concerns about token centralization need addressing. The team’s experience is a positive, but a larger pool of developers could accelerate innovation and technical prowess. The strong investor and partner network provide a solid foundation for future growth. Investors should weigh these factors, acknowledging both the project’s potential and the areas needing enhancement, to make informed decisions in the dynamic and ever-evolving world of cryptocurrency.

What is Siacoin-SC?

 

Siacoin (SC) operates as the core currency of Sia, a blockchain-driven decentralized cloud storage platform. Established to serve as the internet’s foundational storage layer, Sia provides a secure, trustless environment for cloud storage. It allows users to lease out their surplus storage space. Transactions and agreements within this ecosystem are governed by smart contracts, with Siacoin facilitating payments for storage services.

Genesis and Development

The inception of Sia traces back to mid-2013, with David Vorick conceptualizing it during his computer science tenure at Rensselaer Polytechnic Institute. Luke Champine, a peer, joined Vorick post an initial presentation at HackMIT in September 2013. Officially named after the Egyptian deity of perception, Sia began under Nebulous, Inc., which later paved the way for The Sia Foundation in 2021. The Foundation, a 501(c)(3) non-profit in the US, now oversees the Sia project. It focuses on maintaining Sia’s core protocols, supporting developers, promoting Sia, and ensuring siacoin accessibility and security. The Foundation thrives on a block-subsidy and initiated a grants program in October 2022 to encourage projects that benefit Sia’s network and ecosystem.

Unique Attributes of Siacoin

Siacoin sets itself apart in the cloud storage market by offering competitive rates, challenging major providers like Amazon, Google, and Microsoft. Its uniqueness stems from its decentralized structure and cost-effectiveness. The Sia network secures files by dividing them into 30 encrypted segments, each hosted separately for redundancy. Smart contracts on Sia’s blockchain facilitate and enforce host-uploader agreements, with siacoins serving as the transactional currency.

Securing the Siacoin Network

The Sia blockchain’s integrity is maintained through a proof-of-work consensus mechanism. This approach, as argued by co-founder Vorick, effectively deters malicious attacks by linking them to significant energy and hardware costs. The requirement for hosts to deposit collateral minimizes the incentive for adverse actions. Even in the face of extensive network attacks, Sia’s design ensures data retrievability, as long as a minimum of 10 out of 30 hosts remain operational.

Fundamental analysis of the Siacoin-SC cryptocurrency

Siacoin - SC performance

GENERAL CRITERIA:

Score

SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

Go to Methodology

Content description

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

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