Siacoin aims at creating a platform for decentralized data storage.This means that it will be possible for you to upload files on the net being sure that you are the only one who is in control of it.
The file will be encrypted, and you will be the only one to have the key do decrypt it. Nobody else will be able to visualize it.Storing files will be a lot cheaper than storing on Google or Amazon, and it will prevent third parties to see your data and target you with tailored advertisement.
Storing 5 Terabytes of data on Sia Blockchain will cost you around 10$ month, while on amazon or google it would cost you more than 100$.Siacoin is a technology developed at MIT, and their Trello is available online to check the progress of the team.Decentralizing databases will make information more secure and private.
The current circulating supply is about 31 billions coins, valued 0.04$each. Sia is not the only player in this market, and Storj is a direct competitor.Their technologies are slightly different, and their focus also.
This article is not a financial advice.As always you should always do your own research before investing.Cryptocurrencies are a risky market, and you should never invest money that you cannot afford to lose