Unlike many other coins or crypto projects, Sia didn’t start with an ICO or pre-mining. Still, to date, Nebulous Inc. has raised $1.25M in total funding. Prominent investors include Procyon Ventures, Raptor Group, Fenbushi Capital, and angel investors like Xiaolai Li.
The long-term goal of Sia is to compete with cloud storage platforms like Dropbox, Google Drive, and OneDrive. In the blockchain space, Sia’s direct competitors are Storj and MaidSafe, but Sia claims to be better with encryption and decentralization.
The developer’s community is confident that they are making a highly competent product and they don’t believe in mass marketing campaigns for promotion.
Sia- Decentralized Cloud Storage
I think Sia has come just at the right time because the need for data privacy, security, and decentralization is at an all-time high in the market.
And it goes without saying that the future of Siacoin hinges on the success and rate of adoption of Sia cloud storage, which is looking promising at the moment.
And at the time of this writing, the price of Siacoin has increased 50 % in the last 7 days.
The future is looking bright for Sia.