Siacoin is a cryptocurrency used on the Sia platform. The creation of the currency occurs through mining but requires a proof-of-work format to be created. It was developed in 2015. Its market cap significantly increased throughout 2017, and it is inside the top 20 cryptocurrencies measured by this rule.
Siacoin is known by the symbol SC. There is also a Siafunds virtual currency that was developed as part of the same platform. Siacoin sits within the decentralized storage space and anyone wishing to use that space can do so if they pay via Siacoin. This makes it somewhat different to other cryptocurrencies on the market. Siacoin is arguably not as well-known as others, although there is every possibility this will change.
