Scanning the current crypto levels, we can see that Siacoin (SC) has recently moved to $0.0138953. The circulating supply levels are presently 35057182347 with a market capitalization of 487130066. Recent volume has been seen at 78808600. Since the previous day’s settlement price, the currency has seen a change of 15.53%.
About Siacoin (SC):
Sia (Symbol: SC) is a decentralized storage system. Users in the world can contribute disk storage from their computers to create a decentralized network. With Sia cryptos, users can easily rent storage from hosts on Sia system, which is achieved through smart storage contracts saved on the distributed Sia blockchain. The smart contract system creates a payment to hosts once they have held the file for a reasonable amount of time. If hosts fail to keep the file, they do not get paid. The decentralized nature of the Sia storage network aids many optimizations in latency, reliability, throughput, and security. Through the nature of decentralized Sia network, users with storage are able to get paid, lower the barrier to entry and decrease the overall price of cloud storage. Also, they can rent storage utilizing Siacoins and host their storage to the system in return for compensation in the form of Siacoins.
Investors may be wondering if the time is right to add cryptocurrency to the portfolio. The space has become very popular over the last few years, and there are many pros and cons that have been discussed regarding the topic. As everyone has seen, the most recognized of all the digital coins, Bitcoin, has been highly volatile. Bitcoin saw a tremendous jump in value but has settled down a bit since. There are many who believe that the coin is destined to shoot back up to high levels, and there are just as many who believe that the value will eventually be completely erased. The highly technical nature of the technology behind cryptocurrency may create some confusion among professionals and amateurs alike. Thoroughly examining the space may take a lot of extra effort, but it may assist the investor immensely when making those tough decisions.
Cryptocurrencies are based on blockchain technology, but they may function a bit differently. There are various factors to look at when examining a specific digital currency. Some of these include processing speed, available currency supply, and total amount of currency. Investors will most likely want to dig deeper and see who is behind a certain coin. Currencies that seem too good to be true might be just exactly that. There should be plenty of information available from the creators that can be researched. Understanding how different cryptocurrencies work may help the investor decide which ones are worth purchasing and which ones should be left alone.
Because digital currency is still relatively new and evolving, investors may not know the proper way to start evaluating crypto trades. Even the most seasoned traders and investors may still not have all the answers. There are definitely many unknowns in the space. Knowing what cryptos are real and viable may not be easy to determine. Crypto bulls may be out in force, but there is no way to tell how everything will shake out over the next year. Even though some cryptocurrencies may have a rocky road ahead, the underlying blockchain technology seems to be here to stay. The useful functionality of the blockchain technology is hard to deny. As more and more businesses start to adopt it, there is no telling just how transformative it will become.