Decentralized Cloud Storage vs Amazon S3, Google Cloud, and Microsoft Azure
Behind every cloud is another cloud…
– Judy Garland
Information + Resources
Sia is a decentralized cloud storage company. The cloud stores information through cryptography to utilize mass-computing power and deliver content as efficiently and securely as possible on all fronts (power, speed, file size). They are directly competitive with Amazon S3, Google Cloud, and Microsoft Azure, offering rates 10-110 times cheaper than their counterparts. Unlike the more established services, Sia is completely private, decentralized, and global with a multi-signature cryptographic algorithm, ensuring maximal security and reach. However, development is yet to be completed and the platform is yet to receive widespread attention.
Siacoin’s value is tied to the net value stored on their cloud service plus the speculative value on exchanges, which is based on monthly users and bandwidth fees. Siacoin has jumped 300% in value since April and does not show signs of stopping. It was virtually worthless before that and development still has a long way to go, including the addition of a peer-2-peer file sharing function. Sia is not trying to reinvent the wheel, and is targeting an extremely practical market with big promises for their tech’s efficiency. As with any new technology, however, there is a risk of failure, so check your hype!
Future: Playing with the big boys
// Written May 30, ’17. Price at the time: $0.0081 / SC
// Edited June 17, ’17. Price at the time: $0.017 / SC
// Edited June 19, ’17. Price at the time: $0.022 / SC
// Edited June 22, ’17. Price at the time: $0.019 / SC