The Currency Analytics
By Maheen Hernandez
SiaCoin (SC) Using the Network
David Vorick in an interview with Jane King, Host, the Business of Blockchain, spoke about how they started off with their business on the blockchain.
Jane King started off about Siacoin stated that this is a very ambitious goal that you are having with the company.
David Vorick, Co-founder Sia, CEO Nebulus acknowledged that they were ambitious. Stated, in College, I was looking at cloud, and looking at blockchain I realized that Cloud…
Every time you put your data on your cloud, you are trusting someone else, and you are in control of that data.
Clarified stating he was the CEO of Nebulus, the project is Sia, and your digital coin is Sia Coin, and on whether anybody can participate in this?
He stated, yes, it is a completely permission-less network, which means if you want to do it and if you want to participate all that you need to do is download the software, and…
I mean if you want to store data on Sia, you want to download the software and once you are up and running, you can just put the files on the network; and, the network will keep…
On the other side of it you have resources and you want to make, hard drive available on to the Sia network, you can download the software and you can actually get paid for…
And, basically what the network does is, it looks at all the people who are offering resources and it figures out, the fastest and best way to make use of those resources.
Anyone who are willing to use the network they go online with their laptop, they find the software to download, which is available on Sia.Tech download page, free to download.
There is a monthly fee to do this. You have to buy some SiaCoin (SC) and you have to give it to the software which will give you an address to send it to, from there you will be…
When asked on how it is made faster and secure and more control of the data with this. In terms of faster, because anybody can come and be a provider, there are significant…
And for security, we use a lot of photography. We are worried about people peeking at our data, changing data, and people disappearing.
Finally, we use redundancy and we make sure that at least 30 people have our data. We only need 10 nodes to recover data, and so, if there are people unplugging or…