3 Reasons Why You Should Invest In Siacoin?

Source: somagnews

The crypto market investors are always up and down, searching for the next valuable crypto to invest in. The goal is to find a blockchain with creative ability and high-speed growth in the economy.

Great companies like Google and Amazon, control everything, including cloud storage. However, on the decentralised network, there is one upstart looking to take part in cloud storage. This is the Sia Network which uses Siacoin crypto. It is unique and provides oligopolistic space.

The Siacoin network provides cloud storage services on the blockchain network. Because it is not under control, users enjoy using it because they get to pay for the services with Siacoin.

Providers of services are also receiving payments in Siacoin. It looks like Siacoin is providing a real-world use and attractive investment in the cloud space.

Siacoin is a good investment in the long run terms for investors seeking a disruptive chain. Here are a few reasons as to why you should invest in Siacoin.

1. Siacoin Presents A Cost-Effective Cloud Storage

Because of inflation, Cloud storage companies are constantly increasing prices to meet the cost. Because of this, the cost lies majorly on the consumer. For instance, Microsoft Azure charges almost $20 monthly for 1TB of storage.

But for the Sia network, the cost is less than $5 for the same service. A difference of almost $15. This is very important for companies looking to acquire cloud storage services.

This is undoubtedly a good reason for investors to invest in Siacoin because the Sia network is less expensive and uses Siacoin for transactions between the providers and the consumers.

2. Siacoin Provides For P2P Solutions

Sia network is primarily peer-to-peer cloud storage in crypto. The chain provides solutions to anyone who is part of it. However, a more significant amount in use by the Sia network is on the transactions.

Apart from the Sia network being cost-effective, there are many benefits of being a peer-to-peer solution giver.

Being a peer-to-peer, the network gives security to its users. Furthermore, for cloud storage providers to join the Sia network, they must own a particular amount of Siacoin, locked in deals.

The deals receive analysis in the blockchain for the users, providing security and ensuring that both sides are satisfied with the transactions.

3. Siacon Provides Firm Security

Being an agent, the Siacoin network has very firm security protocols. The network’s security has a few benefits compared to the original cloud storage providers.

  • The protection prevents it from server attacks.  Central servers cannot attack the network, and any hacker will need to conduct many activities to breach the system
  • Its Owners are unknown. This means that the level of encryption and information transfer is the best. The owners are the only ones with private keys to access the information
  • The Siacoin network splits files across many computers, enabling the renter to access their files anytime, even offline

However, it is also worth noting that Siacoin’s price value is purely reliant on the network for continuous growth, unlike other cryptos like Ethereum.