This Altcoin Skyrockets By Over 20 Percent – Here’s Why

According to stats on coinmarketcap, Siacoin has surged by up to 20 percent. The coin alongside other major altcoins like Ethereum, BitcoinSV and Bitcoin cash is seen surging up brilliantly with BitcoinSV leading the pack.

Skynet Launch Triggers A Pump In Price

Siacoin (SC) maintains a position among the top 100 cryptocurrencies listed on CoinMarketCap (CMC). At the moment, it is the 54th coin by market capitalization and presently changes hands at $0.003 per coin. The coin moved up by an incredible 20% increase from its closing price yesterday.

A negligible price correction took place earlier into the day. This saw Siacoin drop by a little percentage but soon moved in the opposite direction.

The news comes following the expectation of Siaskynet to launch today, February 18, 2020. Following an official announcement informing the community of such development, many enthusiasts have shown considerable interest.

“Siaskynet is launching on Tuesday, February 18, 2020. Sia Blog recently wrote in their blog titled “The war for free internet,” stating how the internet has captured our lives.”

Siacoin is a cloud storage platform existing without servers, signups or middlemen. It leverages blockchain technology to create a vast data storage marketplace. The data storage system is much cheaper in contrast to other similar platforms.

Time For Adoption As Seen By Community Members

Several community members feel that the time for ceremonies is gone and that it is Time for Adoption. According to some community members,

“Some of the Siacoin (SC) fans seem to be tweeting GoodBye YouTube, and they state that SiaSkynet will put several projects to bed. Guess it is an exaggeration. Waiting, though.”

Sia provides a platform that gives users the chance of controlling their private encryption keys. They can also use their data as Sia encrypts and distributes the files across a decentralized network. This ensures that outside company or the third party have no access or control of files as in other typical cloud storage systems.

In comparison to the rest of the cloud storage providers, the decentralized cloud storage costs 90% less. Since Sia distributes and stores its redundant file segments on the nodes across the globe, it eliminates any single point of failure, thereby ensuring uptime which rivals the traditional cloud storage providers.

Sia software is an entirely open source. The chief contributors are leading software engineers with a thriving community of developers building innovative applications on the Sia API.

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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