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PostPosted: Thu Jul 12, 2018 12:30 pm 

Joined: Thu Dec 07, 2017 11:11 am
Posts: 35
SiaCoin: How to Use it to Store Your Files Securely

PostPosted: Fri Jul 20, 2018 9:25 am 

Joined: Fri Dec 08, 2017 7:07 am
Posts: 27
Sia is a new entrant to the cloud storage environment. It is different from the other storage platforms. While the usual data centers are owned and operated by a single company, Sia aims to decentralize the system. Sia does not many servers. Anybody can join and make money by giving their hard drives on rent to other Sia users to store their data.

Sia offers better security and privacy measures than any of the existing storage service providers. They split your files and applications into several portions, encrypts it, and then distributes each piece randomly across the decentralized network. Since the data is yours, you hold the key with you. The encryption key is seen only by you. Even the other network members to whom the split file is given cannot view the key. Even the Sia administrators cannot see the encryption keys.

Suppose there is an intrusion and the intruder manages to gather the split files, they will not be able to place the file in the correct form or decipher it. In case you wish to reconfirm about Sia’s ability to maintain privacy and security, you can check it if you have the skills.
Sia is open source and the source code is openly published for anyone to scrutinize it. You can compile and run it on your personal computer. There is no possibility to hide any information when the source code is open.

Sia storage is far lower in cost than the storage services. One terabyte of storage costs only anything between $2 to $5 per month depending on the price change of bitcoin. If you intend to use the Sia storage service, the payment must be made by SiaCoin the cryptocurrency initiated by Sia. The storage providers are paid by SiaCoins. Sia maintains a blockchain to ensure security and privacy.

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