Decentralized cloud storage. What an idea right? Sia and Storj were one of the first alt coins I bought.
Sia splits apart, encrypts, and distributes your files across a decentralized network. Since you hold the keys, you own your data. No outside company can access or control your files, unlike traditional cloud storage providers.
Sia is on average ten times cheaper than current cloud storage services. 1 TB per months storage costs about 2$ month.
Sia stores small pieces of your files on dozens nodes all around the world. This eliminates single points of failure and highest possible uptime.
It's also completely open source.
On Sia hosts compete for your business - which leads to the lowest possible prices. Renters pay using Siacoin, which can also be mined and traded.
Siacoin team is ranked number #5
Sia had been pretty much idling the entire time I've own it. Not much movement. But decentralized cloud storage, where you don't have to put your files in the hand and custody of a third party WILL be the future. And Sia and Storj, or just one of them (I think Sia is leading the competition right now) will become HUGE.
Last couple of days Sia has risen to almost $0,1USD from $0,003 levels. I personally bought Sia at $0,006 - unfortunately for a very small sum. But even that small sum has gone more than 100x in that time and actually started to be a real lump of money.
If I had invested better into Sia, Sia alone would have made me a millionaire. Lesson learned, and I'm not investing that kind of small sums in any new cryptos.
Good news though, I think Sia could 10x on the long run - meaning in a year or two. Possibly this service could be worth in the hundreds of billions in the future - so this is a long term hodl.
Don't take financial advice from me. Go to your local bankster and he will tell you how to wisely invest in the traditional market.