Sia is a storage marketplace enabling buyers to rent space from sellers with extra disk space.
Sia leverages the capacity of blockchain technology to enable distributed networks to reach consensus in a secure and trustless way. Cryptographically secured smart contracts ensure the encryption and transfer of data with no possibility for a third party to interfere in any way.
Sia is a new approach to cloud storage platforms. Instead of all datacenters being owned and operated by a single company, Sia opens the floodgates and allows anyone to make money by renting out their hard drive. Data integrity is protected using redundancy and cryptography.
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. Today, being a major cloud storage player requires having datacenters, building trust within the market, reaching customers, and competing with giants such as Amazon, Google, and Microsoft.
WNLi - February 12, 2017
The UI is not cutting edge, but that is likely to improve. The process in purchasing Sia Coins is a bit tedious and the faucet feature doesn't work. But I believe with time these issues will be resolved. Oe key area they need to improve is security. Here's an excerpt from a recent piece addressing just this issue:
"Sia is more vulnerable than Bitcoin to a 51% attack. We have fewer mining pools by a significant amount, and less hashrate by a significant amount. "
Another concern is wether Sia's host nodes are expected to perform competent SecOps. I expect that as Sia grows this will be less of a problem.
In the end, I'm excited to begin using Sia!