Siacoin: Sia is a cloud storage operator based on blockchain technology

Siacoin, a distributed file cloud storage service operator, recently launched a data storage collaborative cloud service based on blockchain, with automated peer-to-peer features, allowing users to customize storage plans under a reliable security protocol. Similar to decentralized storage projects Filecoin and Storj, Sia aims to build a trustless, fault-tolerant file storage service.

Siacoin, the cloud storage currency, stores personal and user data on the Sia platform, which is decentralized and stored on numerous nodes and can be tracked by automated smart contracts. Files are protected by a multi-stage process and encrypted by the encryption algorithm Twofish.

The platform's powerful functions are built on the RS distributed file system. All user data is divided into many small blocks when entering the Sia client, leaving only a few fragments for users to restore the original data. Sensitive user information blocks are compressed to 4M to protect user privacy. Finally, each compressed block is encrypted using the client's secret key. (Cloud Storage Coin Siacoin)

Security protocols are used to prevent hackers from compromising the Sia platform and stealing user data.

The host receives an encrypted binary blob with no information about the rest of the file. Even if hackers find out, they still need to crack numerous encryption keys to recover the file.

In an interview, the Sia team told Bitcoin Magazine that the client keeps a cryptographic checksum that will alert the user if the host attempts to tamper with the data.

According to the team, the Sia platform's strict and complex encryption and decentralized distributed file system can be used for decentralized application development. Its API allows developers to store files directly on the Sia client, allowing third-party application users to directly access their customized data storage system without having to change the original client.

The company also announced a partnership with Crypti, a flexible backend application development platform, which will allow Crypti engineers to integrate Sia’s API and access Sia’s data storage client.

“Crypti has integrated Sia as a storage layer for their decentralized application development. Sia provides an API to upload files to the storage network. Crypti is a flexible platform that can integrate with multiple backends, but Sia is the first decentralized attempt to allow developers to create real trustless Crypti applications,” the Sia team told Bitcoin Magazine.

Both third-party applications and Sia platform users have the right to publish smart contracts on file storage. This feature allows uploaders and hosts to reach consensus on storage elements, including storage duration, payment plans, and total amounts, and can embed information into the blockchain to automatically establish an unchangeable contract.

The Sia team explains: “When the contract expires, the host submits a proof of storage to the blockchain showing that it is still the file defined by the contract. If the proof is valid, the uploader’s money will be paid to the host and the host will return the collateral. But if the host submits an invalid proof, or does not submit a proof, all the money will be returned to the uploader.”

"The super-parallelism of the Sia network means that upload and download speeds can meet most connection requirements. The large distributed node array means that Sia is a powerful CDN. The absence of programming logic on the generalized web makes Sia more resilient to power outages, such as power outages and natural disasters. The implementation of the Sia network is very advanced in every way."

Currently, the Sia cloud storage network costs $3 per terabyte per month. According to the website, more than 1 terabyte of data is currently stored on the network.

Now that the project has been officially released, the Sia team aims to get developers and enterprise customers involved. As the platform gains traction, the team plans to continue improving the core Sia protocol and hire senior engineers to improve the platform's security protocols and user experience.

Original text: https://bitcoinmagazine.com/articles/sia-launches-decentralized- blockchain-based-storage-platform-similar-to-filecoin-and-storj-1449082814
By Joseph Young
Translator: gsj
Reward address: 1DHs7hZMdx6tgUHdqXiub3XrovrF6Pte7y
Editor: printemps
Source (translation): Babbitt Information http://www.8btc.com/sia-blockchain