Siacoin is a decentralized file storage system that incentivizes people to rent out their unused hard disk drive space to earn Siacoin, or SC. It does this by using a blockchain technology whose design is similar to Bitcoin with a few unique technical tweaks that allow it to be used efficiently for file storage.
Features of Siacoin;
- Decentralized storage platform
- Completely private
- Marketplace on blockchain
- Open source
Some common issues of Siacoin;
- Loss of a wallet file.
- Unable to cash Siacoin.
- Two-factor authentication failed.
- Unable to receive a Siacoin.
- Account hacking issue.
- Unable to mine Siacoin.
- Unable to send Siacoin from my account.
- Connectivity Issues or “Connection Error”.
- Unable to open the Siacoin wallet.
- My password does not work.
- Trouble signing in on Sia.tech.
- Unable to sell and buy Siacoin.
- Hacking a payment gateway.
- User address error.
- Unable to deposit and withdraw USD.
- Wallet balance doesn’t show.
- Trouble connecting with the server.
Pros and Cons of Siacoin;
- Scalable solution to cloud storage
- Decentralized cloud storage costs less than other cloud storage services
- Open and straightforward roadmap
- Accurate storage solution
- Siacoin is an inflationary currency
- Limited market size
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