What is Siacoin Cloud Mining?

Sia is a cloud storage platform. It is a decentralised, block chain based cloud storage platform. Sia uses block chains to make the payments. Sia is the cloud storage platform where the user can rent cloud storage facility. The persons can also rent out their unused hard drive and may also get paid for hosting files. Sia is the platform from where the miner can mine Siacoin and contribute to the Sia project.

The cloud storage providers operating currently are centralised. They also charge high for their services. The stored data is often not crypted. The cloud storage service providers generally run only many large data centers.

Sia is the cloud storage platform that offers the services for private and decentralised cloud storage facility for data storage, to the users. The price charged by Sia is also much less than the service charges of regular cloud storage service providers. Sia has helped the cloud storage service users to drastically cut down their overhead costs of cloud storage. Sia stores the user’s data by splitting the data apart, encrypting the data and then distributing the data across the entire Sia network, which is decentralised in nature.

Siacoin is the cryptocurrency, used by Sia. Sia uses Siacoin to facilitate making decentralised payments through file contracts. The entire payment system on the Sia network is with Siacoin.

Siacoin Cloud Mining-

Siacoin cloud mining is mining Siacoin over cloud environment. Siacoin cloud mining is the process of Siacoin mining by utilising a data center, that is located in a remote area. Siacoin cloud mining uses shared processing power.

Siacoin cloud mining is a boon for the miners, as this type of cloud mining enables the miners to mine Siacoin without managing any of their own hardware for mining. The Siacoin mining rigs are housed, managed and maintained in a facility, that is owned by the mining company itself. The customer or the miner has to just register herself/himself with the company and purchase the shares or the mining contracts, for Siacoin cloud mining.

Siacoin cloud mining is provided as a service. The miner has to pay for the services. The Siacoin cloud miner can either take on lease a Physical Mining Server or a Virtual Private Server. The miner can then install the mining software on that particular machine. Miners can also purchase hashing power, that is hosted in data centers, from those data centers. The cloud miners of Siacoin can either choose a specific amount of hashing power, for a certain period for the contract.

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