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About Siacoin
Siacoin (SC) is the native utility token of Sia, a decentralized cloud storage platform that functions as a secure, trustless marketplace for distributed storage. Instead of relying on centralized providers, Sia allows users to lease access to their unused storage space to others. Transactions and storage agreements are enforced via smart contracts on the Sia blockchain. Before being uploaded, data is encrypted and split into multiple pieces distributed across different hosts to ensure privacy and reliability. Siacoin is the primary medium of exchange within the ecosystem, used by renters to pay for storage and by hosts as collateral.
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