Got an email from Kraken today that they’re listing Siacoin (SC), the blockchain-based Dropbox clone, on their trading platform. This listing makes it easier for SC tokenholders to liquidate, while giving Kraken users another altcoin to invest in.
We have a full introduction of SiaCoin at Thought for Your Penny,, and you can check out the full press release below.
We are pleased to announce that Siacoin (SC) will be listed on Kraken starting October 9.
What is Siacoin (SC)?
The Sia network leverages underutilized hard drive capacity around the globe to create a decentralized data storage marketplace that is more resilient, private and affordable than traditional cloud storage solutions. Sia runs on its own blockchain, powered by the Siacoin (SC) token, used to buy and sell data storage on the network.
- Sia matches users who need data storage with hosts that have unused hard drive space
- Files are encrypted, divided into fragments and distributed across the network of hosts. There are no central servers, meaning only end-users can access, control and own their data
- On average, storing files on Sia costs 90% less than centralized cloud storage providers. Storing 1TB of files on Sia costs about $1-2 per month, compared with $23 on Amazon S3
- Files are distributed across multiple redundant nodes, ensuring uptime and eliminating single points of failure
- Sia was launched in 2015 by Boston-based Nebulous, Inc. Project website: https://www.sia.tech
What time will funding and trading start?
- Funding: Kraken will enable deposits and withdrawals for SC at approximately 13:30 UTC on October 9
- Trading: The first trades will start shortly after funding is enabled, because sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here)
- Updates will be posted on the status page near launch time
To learn more about the listings, check out our blog post.
Thank you for choosing Kraken, the trusted and secure digital asset exchange.
The Kraken Team