Siacoin (SC) price prediction – any recovery ahead?
Siacoin (SC) price prediction – any recovery ahead?
As of March 2015, another interesting blockchain project joined the crypto market. We are talking about the Siacon data storage system and its utility token. In this article, we focus on its main features, siacoin price predictions, and many more.
What is Siacoin? Siacoin Price Prediction
Siacoin is a data storage system that uses the blockchain to set up a decentralized storage system. To store your data, it is fragmented, encrypted, and distributed over their decentralized network.
By allowing users with unused storage space to rent part of this excess, Siacoin significantly reduces costs compared to a traditional cloud system.
This Airbnb of hard drives is trying to undermine the big players already well implemented, such as Dropbox, Google Drive, or Amazon, by offering quality service at a much lower cost.
Siacoin SC general info
- Crypto name Siacoin
- Crypto symbol SC
- Price in USD $0.004
- Market Cap $201,399,886
- 24h Volume $8,392,022
- Circulating supply 51,439,672,992
- All time high $0.092868 -95.87% January 5th 2018
How does Siacoin work?
Siacoin has developed a system that guarantees data privacy. To work, SC separates users’ files that are stored on the blockchain and distributes them across multiple users’ hard drives. None of the individuals hosting the data owns them all, and the same data is copied to several computers in order to have backups in the event of a hard drive failure.
To gain access to their stored data, a user receives a key. Only this key makes it possible to gather the file fragments into a complete file and decrypt this file. Without the possession of this key, it is therefore impossible to have access to sensitive data and, therefore, becomes impossible for a hacker to obtain confidential information.
In addition, due to file fragmentation, it is impossible for Siacoin to analyze the content of your documents and send you marketing campaigns related to your areas of interest.
Your data will be stored all over the world, and with each request to access it, the fastest servers will take care providing you with access to it.
Siacoin price prediction
For the past seven days, the SC was in a good uptrend and rose by 9.12%. Siacoin has shown very strong potential lately, and this could be a good opportunity to dig in and invest.
Over the past month, the price of SC has decreased by -70.562%, removing a whopping average sum of $0.009 from its current value. This sudden drop means that the coin is falling right now, which means it can be a good buying opportunity for a quick investment.
The 90-day price change is approximately -77.14%, and the price has been circulating from a low average price of $0.017 to a high average price of $0.018 in the past 90 days.
Siacoin is down -77.56%, with the maximum average price of the coin around $0.029 and the minimum average price around $0.024 over the last four months.
Siacoin Price Prediction 2022
According to our in-depth technical analysis of past price data from SC, in 2022, the price of Siacoin is likely to reach a minimum level of $0.005. The SC price can reach a maximum level of $0.006 with an average price of $0.006.Read More
Siacoin Price Prediction 2023
Siacoin price is expected to reach a minimum level of $0.008 in 2023. Siacoin price may reach a maximum level of $0.010 with an average price of $0.008 throughout 2023.
Siacoin Price Prediction for 2024 2025
According to the price forecast and technical analysis, in 2024, the price of Siacoin is expected to reach a minimum level of $0.012. The SC price can reach a maximum level of $0.014 with an average price of $0.013.Read more
The price of 1 Siacoin is expected to reach a minimum level of $0.017 in 2025. The SC price may reach a maximum level of $0.021 with an average price of $0.018 throughout 2025. Read More
Siacoin Price Prediction 2026
The Siacoin price is likely to reach the lowest possible level of $0.025 in 2026. According to our findings, the SC price could reach a maximum possible level of $0.030 with an expected average price of $0.026. Read more
Siacoin Price Prediction 2027
According to our in-depth technical analysis of past price data from SC, in 2027, the Siacoin price should be around a minimum value of $0.037. The Siacoin price value can reach a maximum of $0.044 with an average market value of $0.038 in USD. Read more
Siacoin Price Prediction 2028
Siacoin price is expected to reach a minimum value of $0.054 in 2028. Siacoin price might reach a maximum value of $0.064 with an average price of $0.056 throughout 2028. Read more
Siacoin Price Prediction for 2029
According to forecasts and technical analysis, in 2029, the price of Siacoin is expected to reach a minimum price of $0.082. The SC price can reach a maximum price value of $0.094 with an average value of $0.084. Read more
Siacoin Price Prediction 2030
Siacoin price is expected to reach a minimum value of $0.12 in 2030. Siacoin price might reach a maximum value of $0.14 with an average trading price of $0.12 throughout 2030. Read more
Siacoin Price Prediction 2031
The Siacoin price is expected to reach the lowest possible level of $0.16 in 2031. According to our findings, the SC price could reach a maximum possible level of $0.20 with an expected average price of $0.17.
Siacoin team and partners
Here are the different members of the team and their vision regarding Siacoin:
David Vorick – CEO, Co-Founder, and Lead Developer: Luke loves knowing that their technology is there to improve users’ lives and change their perception of the world. He hopes it
What they are building will inspire people.
Luke Champine – co-founder and lead developer: Luke believes that Siacoin taps into the rebellious spirit of hackers by rejecting the current paradigm and insisting on building something new, powerful, and esoteric.
Zach Herbert – VP of Operations: Zach feels that the team is constantly thinking long-term in building a very strong technical foundation for the future success of the business.
Chris Schinnerl – Lead Developer: Chris believes that in a world where storage is distributed, there will be no more wasted time with maintenance, no more spying on data, and no more attacks on clouds.
Steve Funk – Head of Customer Support: Steve idealizes the development team, which he believes takes detailed care of the user experience and the community behind the project, which inspires them to do their best.
Eddie Wang – front-end developer: Eddie has a hunch that distributed storage will be an essential component of the blockchain ecosystem.
Matt Sevey – Lead Developer: Matt believes that Siacoin is leading the way in what decentralized data storage should be. This will allow users to maintain control over how their personal data is stored and to have confidence that it will be protected as it should be.
Siacoin competitors:
There are many competitors in the “classic” cloud-like Amazon or Dropbox. If the storage costs are much higher, they allow, on the other hand, a much faster access time to the data. Siacoin will therefore be more appropriate for storing files that you do not necessarily need to be fast to access, such as old photos.
Competitors that also operate in the blockchain space include Storj and Maidsafe, which offer similar services. Siacoin, however, has a larger capitalization than these other two crypto-assets, which means that the project is considered more attractive.
SC advantages
- The decentralization of the cloud helps prevent computer attacks, guarantees data confidentiality, and ensures that access to data is always available (no maintenance period).
- People can earn money by renting out their unused hard drive space.
- The cost of storage is lower than the solutions offered by the traditional cloud industry.
- The data is distributed on computers located all over the world.
- It is impossible for the people hosting your data to access it because they only have part of it.
- The files are copied to several computers at the same time in order to be able to deal with the technical problems that some hosts may encounter.
- By owning Siafund (SF) tokens, you can obtain a fraction of the 3.9% of the profits generated by the company in proportion to the tokens in your possession.
Siacoin (SC) ratings and reviews
Siacoin is an interesting project that can significantly reduce the cost of storing data in the cloud. Thanks to its technology, it also guarantees permanent accessibility to data, the impossibility of being hacked, and impeccable confidentiality. Owning the Siafund (SF) token will further allow you to earn passive income based on the financial results of Siacoin.
However, it should be noted that the data access time is much slower than in classic cloud hosting. It’s a problem when we need fast throughput to use our data, but it’s not when we want to store data that we rarely use.
It is also regrettable that the development team has not yet developed a system that simplifies access to these storage spaces by creating a system that allows the direct purchase of the required space by paying with euros or dollars. This will undoubtedly reduce the adoption of this system among the general public.
A final point to highlight is the lack of a limit on the total number of SC coins available. Unlike most other crypto-assets, we will, therefore, potentially have to deal with a crypto-currency that will lose value if the growth in the number of users is lower than the growth in the number of SC coins in circulation.
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