Siacoin in a Nutshell

see a coin not the coin used by SIA but the coin that’s responsible for networks that’s based on sharing hard drives babe at its essence via KOIN the network provides a whole opportunity for everyone to deposit balls much like Dropbox can store files like videos images and documents on the sia network the advantages of SIA is that because it uses a kind of decentralized user-contributed sharing economy you can essentially cut the cost of storing files online if you think about it it’s the Airbnb of hard drive space so to purchase storage capacity you can just you see a token and then upload your files directly through the client and that’s it the advantages of Seir coin is that you can also contribute your own hard drive space to the network and get paid in Seattle coins and it’s that simple there are advantages and disadvantages for doing this first of all it’s possible advantages the biggest advantage is that users can share their unused hard drive space and as a result it’s actually much cheaper to store files because just think about it home if you have like a one or two terabyte hard drive and how much of that do you actually use you know do you have a lot of vacant space and by utilizing that vacant space and contributing to the network you get paid well the network gets free hard drive space for cheap it’s pretty much simple as that another advantage is kind of this decentralization and privacy so with its kind of like ironic if you think about it you’re spending it falls on to other people’s computers you know Dropbox uses private server so your files are stored on Dropbox servers and they have to rent lots and lots of hard drive space but as a result we don’t know we’re not very you know I know they do have encryption but we don’t know the level and security of the encryption options lost Dropbox and if they hold a master key they can access your files so when you use something like Dropbox you have to trust Dropbox at the company once we knew something like fear we trust encryption technology falls on the fear network are under a very very strong encryption and just spread over different computers so for someone to like try to access your files and do you know hack into them so to say it’s nearly impossible just look at one equipped as an example Quanah crypt packs of infected computers and start encrypting them and use those files as ransom and it was actually extremely difficult to recover these calls without a proper key and that’s the technology that’s offered by encryption modern-day encryption is extremely safe and it gives your files private without this key and because only you have the key to unlock your files on the Theia network that means your files are kept safe but of course there are disadvantages Dropbox has a huge ecosystem of you know apps on the phone computer you know you can start upgrading you can start uploading photos on your phone and directly received on my computer and these are huge upgrades that requires tons of time to develop and debug it’s also a great sharing feature and Dropbox and unfortunately a few coin there’s just not as many cool features and support eventually there will be IDO so you know that’s nothing to say about the future of CL but just currently understand you know online storage options such as Google Drive Dropbox and on onedrive all have features that see a coin in dozens of course see a coin is going up in value like crazy because it’s a very novel application of walk chain technology if you guys are interested about deep sea a coin do drop me some comments below about what you’re interested in I would love to do a video for you guys if you guys are new to my channel I do cryptocurrency related news cover new currencies and I do some insights every single day so be sure to click the subscribe button and see you next time

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