Sia Coin Updated details

  • What is Sia?

    A storage marketplace enabling buyers to rent space from sellers with extra disk space

    Made for Developers

    Sia was made to be integrated as your storage backend. You only pay for the storage you use, and there is no commitment. Get started with our API Quickstart Guide .


    Sia is a decentralized network consisting of many nodes around the world. Data is stored redundantly on a diverse subset of these nodes, meaning there’s no single or central point of failure.

    Competitively Priced

    Sia is a storage marketplace. The price of storage on the network is determined by the free market equilibrium, often well below the price of centralized storage. Compare Sia to other storage solutions .

    How Sia Works

    Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network. Anybody with siacoins can rent storage from this network, and hosts are

    paid for their contributions. A combination of smart contracts, erasure coding, and encryption ensure secure, private, and reliable decentralized storage. You can download and use Sia today!

    A smart contract on the blockchain ensures through the use of cryptographic proofs of storage that hosts are only paid if they keep the file for the entire duration of the contract. Employment of erasure codes such as Reed Solomon codes

    guarantees high file uptime even if most of the hosts on the network are unreliable or have frequent outages. All data is encrypted client-side and padded, preventing hosts from snooping the contents of the files and even from guessing what

    the file might be based on the filesize.

    The distrubuted nature of the Sia network enables many optimizations in latency, throughput, reliability, and security. The decentralized nature of the Sia network enables anyone with storage to get paid, lowering the barrier to entry and

    reducing the overall price of cloud storage.

    The Technology

    The foundation of Sia is a proof of work blockchain. Storage contracts are a new type of transaction that get enforced
    by the blockchain. Sia's hashing algorithm is blake2b. p2pool and multisig wallets are both supported on Sia.

    When a file is uploaded to Sia, a storage contract is created containing the Merkle root of the file, a reward for the
    host, and a penalty for the host (both in siacoins). After an agreed-upon duration, the host is required to prove that
    the file is still available by providing a random Merkle proof. If the proof is valid, the host is rewarded; otherwise,
    the host is penalized. Random numbers are generated deterministically using the most recent block as a seed.

    Sia has support for two way payment channels, and two way contract diffs. Among other things, this provides massive
    scalability, and eliminates the need for untrustworthy 0-confirmation transactions. Once you join a payment channel
    network, all transactions within that network will be instant and final, with no risk of a double spend.

    Reliability is achieved by using erasure coding in a massively distributed environment. Erasure coding allows a file to
    be split into many pieces, such that the original file can be recovered using only a few of them. For example, you can
    take a 50 MB file, break it into 200 pieces that are 1 MB each, and then you can recover the original file from *any* 50
    of the pieces. This method has the same overhead as creating 4 complete copies of the file, yet is much more reliable
    because it's much less likely that 151 out of 200 hosts will go offline than it is that 4 out of 4 hosts will go

    As the network grows, we will apply statistical analysis to determine the redundancy required to provide 99.9999%
    reliability on files. It is likely that 3x overhead is absurd overkill, and statistical analysis will give an accurate
    picture of how much overhead is required.

    Using 200 hosts to store a file means that downloads can be massively parallel. Even if the average Sia host does not
    have quick upload speeds, the massive parallelism enabled by Sia means that downloads will be blazing fast anyway. In
    addition, you can choose to connect only to the datacenters that are the closest and the fastest. This optimization
    (known as a CDN) is a hugely expensive project for a traditional cloud storage service, but for Sia it is a natural
    consequence of the decentralized network.

    As security is a top priority of Sia, all encryption is performed locally; the people storing your files will have no
    ability to see what you have uploaded. Not only is every file encrypted separately, every *piece* of every file is
    encrypted separately, and hosts are not told which pieces are part of the same file.

    The Cryptocurrency

    Sia uses a new cryptocurrency, called the siacoin. The developers will mine the first 100 blocks or so before releasing

    the code + miner to the public. Other than these first blocks, there is no premine for siacoins. The first block
    reward will be 300,000 siacoins. Each block reward after that will be one siacoin smaller than the previous block reward
    (299,999, then 299,998, and so on). When the block reward reaches 30,000, all remaining blocks will give a 30,000
    siacoin reward. The block time is 10 minutes. Each siacoin is composed of 10^24 indivisible units.

    The most important features of Sia can only be accessed by using siacoins. All storage contracts and all Sia payment
    channels require owning siacoins. This requirement means that as Sia grows in usage, so too will demand for siacoins.
    As demand grows, the price will increase. If Sia is being used for billions of dollars of storage, billions of dollars
    of siacoins will be required. The value of the siacoin is inextricably tied to the amount of storage in use on the Sia

    Sia has a second cryptocurrency, called the Siafund. 3.9% of all successful storage contract payouts go to the holders
    of the siafunds. There are 10,000 siafunds total, and all 10,000 are completely premined. Sia's parent company, Nebulous
    Inc., holds approximately 8750 of these siafunds. The remaining siafunds were sold in a crowdfund which helped to
    finance Sia's early development. The primary goal of siafunding is to provide a way to finance the development of Sia
    without relying on donations or a premine. More people using Sia means more funding available to hire more developers.

    Standard transactions are not subject to the fee, and neither are failed storage contracts (where the host was offline
    or lost the file).

    The Business Plan

    The long term goal of Sia is to be the backbone storage layer of the Internet. All long term storage will be performed
    on Sia. All movies and music will be streamed from Sia. All images will be embedded from Sia. All businesses will use
    Sia as a backend for cloud storage. Sia intends to replace Bittorrent, Amazon S3, Amazon Glacier, Microsoft OneDrive,
    and all backend cloud storage services. We intend to fully disrupt a many billion dollar industry.

    Sia is meant to be a Platform that other applications can build off of. The beta has a first draft API for developers to
    use, found here.

    Over the next few months, we are focusing on building out the api and creating an example application that replaces
    Bittorrent. If you have ideas for things that you want to build which will use Sia, please get in touch with us. Sia is
    completely open source, and you can use the API without getting explicit permission or paying any royalties or licensing

    The Future

    The promise of Sia is a decentralized network of small 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.
    Breaking into this market is a multi-billion dollar endeavor.

    Sia changes that, by enabling small, efficient datacenters to sell their storage without market trust and without a
    marketing budget. Sia lowers the barrier to entry, and in doing so creates a wealth of cheap storage for its users.
    Anyone with an Internet connection and a cheap source of storage can make money.

    The long term goal of Sia is to become a serious competitor to existing cloud storage platforms, including Dropbox,
    Google Drive, and OneDrive. We envision a future where even massive services such as Netflix and YouTube will use Sia to
    deliver the best user experience to their customers.

    We are looking forward to the data storage revolution. Help us make it happen.

    Network Pulse


    Total File Contracts


    Million SC

    Total Contract Cost

    General Statistics



    Current Block


    Total Coins

    20.78 billion siacoins


    13,955 TH

    Estimated Hashrate

    21,861 GH/s

    Maturity Timestamp

    18:35, Nov 25, 2016

    Active File Contracts


    Total File Contract Cost

    31,611,853 siacoins

    Total File Contract Size

    27.114793605658 TB

    Successful Storage Proofs




    For users

    Linux — 64-bit

    macOS — 64-bit

    Windows — 64-bit

    Sia Daemon

    For developers

    Linux — 64-bit

    API Quickstart Guide

    macOS — 64-bit

    API Quickstart Guide

    Windows — 64-bit

    API Quickstart Guide



    The official GPU miner

    Source code on GitHub

    Alternate Miner

    A GPU miner for Sia in Go

    Source code on GitHub

    Built on Sia

    Block explorer

    Sia Blockchain Explorer


    Next generation NAS powered by Sia

    Sia Cluster

    Data farm monitoring and management tool for Sia

    Sia GNOME Shell Extension

    Sia Cloud Storage Extension for GNOME Shell

    Sia PULSE

    Analytics tool for Sia

    Discover more


    Blockchain Explorer



    Developer Docs

    Github - UI









  • Things you can do with Sia

    Sia is fundamentally a cloud storage platform. And, when compared to
    other types of cloud storage, it has the following advantages:Decentralization. Only the uploader controls the files. Nobody
    can spy on the data, nobody can prevent you from downloading the data,
    and the data cannot be forcibly deleted from the network.Price advantage. Uploading to Sia is extremely cheap. As of
    posting, storage was approximately $2.00 / TB / Month, which can be
    compared to Amazon's $21 / TB / Mo. Unlike Dropbox, Sia is metered,
    which means you only pay for what you use. 100 GB costs $0.20 per month,
    and 1100 GB costs $2.20 per month, etc.Geographic diversity. When data is uploaded to Sia, it is
    uploaded all around the world. Outages due to DDoS attacks in North
    America don't affect the data, because it's also replicated in four
    other continents across a large number of nodes.Sia makes the most sense for write-seldom, read-often data, however
    it is also a good substitute for most things that you would put on
    Amazon Glacier or Amazon S3. Here are some examples of things that work
    very well for Sia:Computer snapshots. A computer snapshot often contains an
    enormous amount of personal information. Whether it's information about
    your friends, your health, your finances, or your passwords, you usually
    don't want corporations to have full access to your data, especially in
    a time when the new hot thing is to do as much data mining as possible.
    Sia's security can provide great peace-of-mind when backing up your
    computer to the cloud.A media center. While security is not as much of a concern with
    media, media often takes up a large amount of storage, and Sia is one of
    the cheapest ways to store and retrieve data online. $2 per month gets
    you enough to store 1000 GB of media.Research Data Warehouse. A lot of scientific research produces
    massive amounts of data. Whether it's genome sequencing, particle
    colliding, or something else, scientists are often forced to filter and
    discard valuable data for financial reasons. Cheaper solutions such as
    tape or Amazon Glacier often result in headaches and slowdowns when it's
    time for the data to be used. Sia as a platform is cheaper than both
    tape and Glacier, without needing to wait a long time to fetch the data.More creative ideas:Life recorder. A fun idea is to record your entire life through
    either a camera in your glasses or pocket or somewhere similar - such
    that your camera can see and record everything you do. This can create a
    mountain of data, and until the introduction of Sia this may have been
    intractable to store. However, storing an entire year's worth of SD
    video (480p, 8 hours per day) on Sia would only cost around $5 per
    month.Web archive. Websites disappear, comments get deleted, data gets
    lost. Centralized archives preserve some of this, but often take
    snapshots infrequently and the data is stored in centralized places. Sia
    could potentially be used to save frequent snapshots of your favorite
    websites automatically, primarily being leveraged as a cheap backup
    source.FUSE. FUSE would allow all data added to, removed from, or
    altered within a directory to be added to Sia with no further
    interaction from the user. Sia does not handle tiny files very well yet,
    so you would not want to run your entire computer out of Sia, however a
    FUSE implementation would be a great catch-all for all sorts of data,
    including programs, games, and web-downloads.Blockchain database. It is possible to use Sia as storage for a
    blockchain. The Bitcoin blockchain currently stands at close to 100 GB,
    which can be a burden on your local machine but is very small compared
    to the scales of typical cloud storage. The raw blockchain data doesn't
    change, which makes it a great candidate for storage on Sia, and would
    be an excellent way to reduce the burden of running a full node without
    reducing the amount of security.

  • Sia v1.0.4 and v1.0.4-LTS Released

    • andard Release: Release: we are releasing v1.0.4, which is very similar to v1.0.3 except with a few bug fixes. The graphical client has some upgrades that allow you to more easily see file redundancy, move files around, and more gracefully upload and download entire folders.More significant is the introduction of our LTS releases. The LTS releases are slower to adopt features, which generally means more stability. Our next series of releases will be featuring major changes to the host, the wallet, and the renter. While we will be testing our new releases as much as possible, with changes this large bugs in production are inevitable.The LTS releases are primarily targeted at companies, exchanges, and services which rely heavily on Sia's stability. LTS releases will only upgrade to other LTS releases, and LTS releases will not include upgrades such as instant-wallet-unlocking until we are confident that no new bugs have been introduced.For most users, we recommend using our non-LTS releases, as LTS is over-cautious. We test every release, and we have lots of safety features to protect funds or data from being lost. LTS is primarily for users who will experience great disruption even if there are only minor bugs. 1

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  • Secure Password Management using NACL and Go

    Last weekend, I finished up a project that had been in the back of my
    mind for a while. The project was not an original idea; it's a password
    manager. At its most basic, a password manager is an encrypted volume
    in which you store your myriad unique passwords for all the various
    services you use. Many find that a text file and GPG is sufficient, but
    most prefer the usability improvements that utilities such as LastPass,
    KeePass(X), and 1Password provide. However, these all have problems that
    I could not easily ignore. LastPass is centralized and closed source,
    leaving you trusting an unauditable service that holds all your data.
    1Password is also closed source. KeePass is a monstrously complex
    application, complete with support for plugins, browser integration, and
    dozens of other features, all of which are incidental to the main
    function of a password manager and are potentially exploitable. All of
    the above store the entirety of your credentials in memory for long
    periods of time.

    After feeling disillusioned with the current offerings of password managers, a colleague introduced me to pass, a password manager inspired by the UNIX philosophy. pass
    is clearly a step closer to what I wanted out of a password manager.
    Unfortunately, pass also failed a cursory security audit. An attacker
    with access to your .password-store data directory learns:

    • How many passwords you have
    • The names for each password (usually these are the sites associated with the passwords)
    • The usernames associated with each name

    Exasperated, I decided to write masterkey. The goals were now well defined:

    • Provide a simple, convenient interface for securely storing passphrases and other secrets
    • Use existing, well-audited, hard to mess up cryptography.
    • Write clean, well tested, readable and easily auditable code.
    • Assume a more aggressive threat model than most other password managers. Specifically, avoid storing decrypted credentials in memory, and don't leak metadata.

    Completing these goals represented a quantifiable improvement in terms of security over the popular password managers, and a quantifiable improvement in usability over the bare bones GPG-textfile method.

    The Interface

    masterkey is operated via a REPL, a type of interactive command line interface. Like other password managers, the user only has to enter their master passphrase once at the beginning of the session. I took some inspiration from Cobra, and built a small package that creates an interactive prompt and can register arbitrary commands and pass arguments to those commands. The code is available here (handy godoc link), and may serve to be useful for others looking to build interactive CLI applications using Go. The secure stateful nature of masterkey's vault means it is also amendable to a GUI, and will likely be endowed with a web interface at some point.

    The Core Algorithm

    masterkey uses NACL for authenticated symmetrical encryption and Scrypt for key derivation. A random nonce is generated every time a masterkey vault is created. This nonce is used to encrypt the data and to salt the user's passphrase. The resulting derived key, encrypted data, and nonce are then stored in memory. masterkey uses a REPL to provide an interface to interact with the vault, and each time the vault is accessed it is decrypted and re-encrypted. The result of this algorithm is that an attacker who somehow gains access to the memory of masterkey only knows how to decrypt the vault for the current session, since the nonce changes each time the vault is used and only the derived secret key is stored in memory, not the passphrase. The attacker is also faced with the challenge of determining exactly where in memory the secret key and the encrypted data are, which is a nontrivial task since both are cryptographically random. In comparison, an attacker may simply string dump 1Password or KeePassX and use simple regular expressions to extract all credentials.


    masterkey Github Repo

  • December 2016 Update + Roadmap

    Core Development

    This month we ended up dropping a lot of the work that we've been doing on the wallet. It was decided that the core usability bottleneck for Sia was the uploading speeds, and also Sia up until this point is not actually very proactive about punishing bad hosts. We've spent a large part of November and will continue to spend December on these things, because they really should be our strengths.We have some really exciting news. We re-wrote the uploading algorithm, and uploads are now going at full speed all the time. Our home connection is pretty slow, only 15mbps, but my tests on the live network were getting between 12 and 16mpbs constantly. This can be compared to our v1.0.4 release, which had the connection inching along at something closer to 0.5mpbs constantly. So, at the very least it's a 10x - 20x speedup, but my guess is that it's actually a lot faster - our home connection is the bottleneck here, not the Sia network.It's not ready for release yet, there are some clear bugs with the new algorithms. But it's super promising, and fixing the bugs will only speed things up further.We've also made big changes to the download code. One of the biggest features is that downloads no longer need to wait 30+ minutes to get started, they will usually start in 60 seconds or less. Downloads have been overhauled just like uploads, and are also seeing significant speedups not just in latency but also in throughput.

    Release Schedule


    We're hoping to have v1.1.0-RC1 out in the next week or so. The primary feature v1.1.0 is going to be improved upload and download speeds, however there will also be updated code to better detect and utilize superior hosts - meaning generally faster speeds, better redundancy (6x redundancy over good hosts is much better than 6x redundacy over mediocre hosts), all while providing lower prices. v1.1.0 is going to reduce the default redundancy from 6x to 4x because of our algorithm improvements, which means lower prices and faster upload times, on top of the improvements that are already there.The full v1.1.0 will likely be released the first or second week of January. The code has changed in significant ways and that means we will have to do a substantial amount of testing. We will be aiming to release one RC per week until the software is proven stable.


    This release is target for around February and will feature upgrades to the host and wallet. Hosts will be faster, will be able to handle larger contracts and renewals, and will be performing proof-of-burn as the final securty countermeasure in Sia. This will also feature upgrades to the host plugin in the UI, giving users access to more of the host's settings, and also giving users a tool to gauge how well they are doing and what steps they could be taking to improve the amount of data on their machine.The wallet has been receiving incremental changes in a separate development branch for several months now, and those changes will finally be released in v1.2.0. Most notably the wallet will unlock instantly, however we will also fix errors related to the 'transaction is too big for the transaction pool' class of errors, we will be updating the seed-recovery code to not need a restart to find your balance, and we'll be fixing a few other stability issues as well.There's a very good chance that either v1.1.0 or v1.2.0 will have the ability to repair files without having the file locally. Meaning, once a file gets past about 1.5x redundancy, it'll be safe to delete from your local machine and Sia will still be able to (though more slowly) get the file to its full 4x redundancy. It should be noted that Sia can only repair files if it is running, so even though you will be able to delete the file locally you will still have to keep Sia on in the background for a few hours per week to do repairs.


    This release is farther away, slated likely for April or May. There are a few features that we are considering for v1.3.0, but we haven't finalized the roadmap. Here's a list of potential things we will be adding:

    • General speed and scalability improvements.
    • Ability to share files.
    • Ability to set price vs. performance preferences, including abiltiy to blacklist or whitelist hosts.

    Within 2017

    Here are a few things that we may have by the end of 2017:

    • Ability to recover your files using only your wallet seed.
    • Support for mobile wallets.

    Other Noteworthy Developements

    Minebox Presale

    For those unfamiliar with, Minebox is a storage device that integrates tightly with the Sia network. You can use it like any traditional NAS, however any unused storage space can be rented out over the Sia network for profitability, and all data stored locally on the Minebox can easily be backed up to the Sia network.Nebulous HiringNebulous is currently looking to expand the team! You can find a full description of the available positions at

    Overall Health of Sia

    Despite what the price may indicate, things are going very well at Sia. On the development size Sia is making substantial improvements. Faster uploads, faster downloads, and an ever growing set of tests to improve stability. On the business side, Sia is making progress evangelizing to enterprises, and while we can share anything yet there are several large companies in our pipeline. The Sia team has also received more invitations to speak at conferences, including places like London.

  • Siacoin Release Sia v1.1.0

    This is a minor release that improves renter performance and adds "defrag" behavior to the wallet. Previously, we have had issues with the wallet accumulating too many small outputs and thus being unable to fund large transactions. This isn't an issue for most users, but it can affect high-volume wallets, notably exchanges. The new wallet will regularly consolidate small outputs into one larger output.

    Thanks to the new renter algorithm designed by @DavidVorick, we are seeing upload/download speeds that saturate most residential connections! This is a huge improvement over the previous algorithm. However, memory usage may be substantially higher than before. We are working to reduce memory usage in the next release without compromising speed.

    As before, you should be able to upgrade to v1.1.0 by running siac update. If something goes wrong, you can always update manually -- but please file a bug report or get in touch on our Slack.

    Thanks as always to our contributors, users, and fans, and a special shout-out to @BitcoinErrorLog who submitted a PR to this release!

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