Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network.
Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
The distrubuted nature of the Sia network enables many optimizations in latency, throughput, reliability, and security. The decentralized nature of the Sia network enables anyone with storage to get paid, lowering the barrier to entry and reducing the overall price of cloud storage.
he idea of Sia was originally conceived at HackMIT 2013. What if you could liberate the unused storage space of the world and unite it into a worldwide free market for data?
Sia leverages the capacity of blockchain technology to enable distributed networks to reach consensus in a secure and trustless way. Cryptographically secured smart contracts ensure the encryption and transfer of data with no possibility for a third party to interfere in any way.
Sia is a new approach to cloud storage platforms. Instead of all datacenters being owned and operated by a single company, Sia opens the floodgates and allows anyone to make money by renting out their hard drive. Data integrity is protected using redundancy and cryptography.
The promise of Sia is a decentralized network of datacenters that, taken together, comprise the world's fastest, cheapest, and most secure cloud storage platform. Today, being a major cloud storage player requires having datacenters, building trust within the market, reaching customers, and competing with giants such as Amazon, Google, and Microsoft.
Breaking into this market is a multi-billion dollar endeavor. The long term goal of Sia is to be the backbone storage layer of the Internet.