Sia will be the first fully functional, remote peer-to-peer data storage network allowing users to store data on a decentralized network where it is available for retrieval anywhere, any time, provided you have the appropriate identifiers in place to access that data.
Similar to centralized, remote cloud storage services provided by companies like Amazon and Dropbox, Sia has found a way to put control of personal data back into the hands of its users. Sia is a decentralized network of data centers that when combined becomes the world’s quickest, least expensive and most secure data storage platform in existence.
This differs from the monopolistic Amazon or Dropbox versions, where they own and operate their own private data centers, giving them access to and complete control of how your personal data is managed, often selling this data to a 3rd party without user knowledge or consent.
Data files on the Sia network are securely and automatically encrypted with industrial-grade algorithms, using blockchain technology to track and ensure full integrity of the network. Cryptographic secured smart contracts ensure the encryption and transfer of data with no possibility for a third party to interfere.
Siacoin is the designated cryptocurrency used on the Sia decentralized data storage platform which is essentially a peer-to-peer network of hard disk drives individually connected to the network allowing the disk space on those hard drives to be used or recovered for data storage by people all over the world.