Sia Coin Posts large update - Sia v1.3.0
Siacoin is a service that provides decentralized file storage - allowing you to store files like photos, videos, and documents on the cloud. This is very similar to dropbox or google cloud, with one major difference, files are stored on a decentralized network of computers.
Sia v1.3.0
This release has several significant changes. Full release notes will be available when v1.3.0 is fully released, but here are some highlights:
Online file repair.
In previous versions of Sia (including v1.2.2), if you deleted your file from your local machine after uploading, it would be unable to restore redundancy, and so as hosts went offline the file would become increasingly unstable, and eventually you would be unable to download it. As of v1.3.0, when your redundancy drops the file will be repaired, even if you don't have the file saved locally anymore.
Substantially improved transaction propagation.
Prior to this release, the transaction pool was capped to a very small size (due to performance bottlenecks), and if transaction pools started to fill up, transactions could stop propagating across the network. As of this release, the transaction pool is larger, has a proper fee market, and has several other modifications that mean it will run better. The ultimate result here is that when you send money on the network, you can expect it to get into a block, even during times of high traffic
Really insightful information here. I definitely need to allocate my portfolio and slip in some Sia coin, the upside potential looks promising👍👍
I have already done that. Sia has a real product with real customers paying real money for their services.
Right on!
Hey Boxmining... I dig your vids and I like the mix of stuff you cover, and it's more informational that just rah, rah, buy, buy, you know?
I got interested in Sia a week or so ago and bought enough to give it a test run. I'm not a super techy guy, so I figured if I could get it to work, and if it is cheap to use, it could be a long term use-case, and therefore a longterm hodl.
For casual users who want a decentralized version of Dropbox (and to not use a company that has a war criminal on its board of directors), you'll have to do some hefty lifting...
Download the wallet and properly store its ~30 word seed phrase. You will later need to type it back in perfectly just to do stuff.
AFAICT, you have to download the wallet and the whole blockchain, and keep it up to date in order to upload files ( and probably retrieve them too). It took me about 2-3 days to sync the blockchain (maybe a bit less if the app didn't crash overnight once).
Buy SC coins on an exchange... which means you should already be schooled enough to have BTC and navigate exchanges. Then send them to your sync'd up Sia-UI wallet.
Buy a contract which will tie up some of your SC. The price for contract is given, but the actual amount you will be paying to store files isn't clear at this point. Maybe I'll figure it out later. I'm not sure how long it makes to confirm a contract... mine has been running for about 1/2 hour.
As an early adopter and a cheap dude looking for crypto storage, this stuff is cool, but NOT convenient.
I'll keep using it, and when and if I see some better user-experience versions, I'll consider hodling more SC.
It's definitely a prototype project and doesn't have the convenience of say dropbox. dropbox has multiple well working apps on multiple platforms, which makes it more convenient for the mass market.
I've seen Sia being used by small business owners and such due to cost savings if they have large amounts of data.
Are file transfers fast enough to be useful for a biz? Maybe a photographer or something like that?
I have it running and have some files uploaded. It is pretty cool and I love not relying on Google, Dropbox etc. The only way to get around these central points of failure to to *bypass them. That's the whole point of crypto, right?
ive just been testing transfer speeds using the 1.3 wallet and sadly it is very slow even using my 300meg connection, (i uploaded about 2 gig of lo res photos to test). I think this will get better as the wallet is developed and am currently a host myself making a menial amount of coins per week but im glad to be helping the network and look forward to the future! (my current Sia stash is 80,000SC - Hodl like crazy)
i've seen a few reddit posts where examples of usage. It depends on their purpose - achieving vs file transfer between clients.
I like the usability of this blockchain a lot! But to be ready for the masses it needs an more easy to use "light client"! But glad to see these progresses they are making! Got to cancel my Amazone storage contract soon ;-)
awesome
More coins, more coins, more coins haha. Everyday someone got a coin coming out!
This coin is quite old, whitepaper is from 29-11-2014
I meant I HEAR about new coins everyday haha
Thanks for sharing! Going to pick some Siacoin up while it's cheap <3
Thumbs up brother. Followed :)
I have faith in Siacoin ! I believe that they will create the storage layer of the internet !!
Im fully invested in SIA , fingers crossed for future developments and some big gains for all of us hopefully! What are your guys thoughts? @crownduels
Is this like Burstcoin? Or no relation? Is there really that big a need for drive storage in the everyday business world? Could bad/criminal/stolen or otherwise nasty pictures be stored on your computer by using sia?
I really want to understand this market, just seems to many bad actors could use this, verses legit businesses saving costs by going to BC based storage.
After the dice coin duping that is ongoing, should we not double check these "investments" before we back them with anything. Fear of missing out is leaving a lot of road rash.
Not really burstcoin uses Proof of Capacity instead of pow/pos mining. Basicly you minw with your hard drive.
Siacoin has two parts the coin and Storage.
The coin has pow and usecase to buy storage.
The storage aspect, You can rent it out (Host) and someone else buy it. (this is over simplifyed)