Description of Siacoin: Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost thanShow more [+] traditional cloud storage providers.
Sia uses a new cryptocurrency, called the siacoin.
The most important features of Sia can only be accessed by using siacoins. All storage contracts and all Sia payment channels require owning siacoins. This requirement means that as Sia grows in usage, so too will demand for siacoins.
As demand grows, the price will increase. If Sia is being used for billions of dollars of storage, billions of dollars of siacoins will be required. The value of the siacoin is inextricably tied to the amount of storage in use on the Sia
Sia v1.3.6 has been released. This release contains a hardfork which activates on October 31st, just a few weeks away. All users who want to stay on the Sia network need to upgrade prior to the hardfork date. All major exchanges will be participating in the hardfork. This hardfork rejects the Bitmain and Innosilicon hardware, replacing it with the Obelisk hardware.
In addition to the hardfork, this release includes big updates to the host selection criteria, providing better defense against sybil attacks and other methods that could be used to manipulate a host unfairly into the top ranks. Because some of this activity has been detected on our network, we recommend that all users upgrade immediately. This release will fix any existing problems with your hosts in addition to preventing future problems from occurring. Other security vulnerabilities were discovered and have been patched, we strongly recommend all users upgrade.
For users who are unhappy with the v1.3.6 hardfork, we have provided v1.3.5 as an alternative. v1.3.5 includes all security fixes, including the hostdb changes. The only difference between v1.3.5 and v1.3.6 is the activation of the hardfork, meaning that users can safely upgrade to v1.3.5. Further, even after the hardfork activates, users will still be able to download all of their files for a few weeks, we have verified that participating in the hardfork is not a requirement for keeping your data safe.
Altcoin ASIC Debacle Will Split Siacoin’s Community In Two
It has been coming for a while now, but the ongoing Siacoin debacle will create a bit of a fallout. The developers’ decision to rebuke Bitmain and other ASICs from the network is an intriguing choice. Not everyone favors this decision, however, which will result in creating the SiaClassic Foundation. The SiaClassic Idea It is […]
The post Altcoin ASIC Debacle Will Split Siacoin’s Community In Two appeared first on NullTX.