Siacoin is a cloud storage network that allows you to store files on the nodes of its blockchain. The files are divided into smaller parts, encrypted, and then distributed across the network. Siacoin also hosts a decentralized storage marketplace on the blockchain which allows users to rent storage space for around 10 times less than traditional cloud hosting services. The network is redundant, meaning that if one node fails there are still many others, ensuring that your files are kept safe. Its software is open-source and the network decentralized, ensuring privacy and security. Siacoin (SC) is the token of value that can be used to rent storage space or simply be traded on its blockchain.
The promise of Sia is a decentralized network of datacenters that, taken together, comprise the world's fastest, cheapest, and most secure cloud storage platform.