SC (Sia) as Large-cap Coin is 55th in the 2100NEWS ranking. The quality of the order book of SC is Poor. The average quality of the order book for large caps members of the NWSL100 index is 14.8. What is the true value criterion in the crypto world?
*Among all, the price is always at the forefront. By comparing with the index, we can gauge the price-performance with similar digital assets that are members of the index. Considering an investor’s point of view, peer comparison should be efficient and effective. We present you coins that are worth keeping in mind.
SC has been launched in 21 exchanges. Siacoin is a cryptocurrency that was never pre-mined and is only entering circulation as a result of mining.
ZEN as Large-cap Coin is 55th in 2100NEWS ranking (after Index Review of 3rd july 2020). It is an Index member: NWST1100, NWSL100, NWSCo100.
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, Score: 11.3 (Average for Large caps: 14.8)
Over the past week, the average market cap was $125.4 million, average daily volume was $4.1 million.
In this section, we will examine how the market, with price changes, evaluates project progress. It seems important to us if the project is outside of the usual tide of crypto project prices. In order to make an appropriate peer comparison, we gauged the SC (Sia) coin with the 2100NEWS DA Coin Index (NWSCo100). Looking at the daily chart below, we see the SC vs. NWSCo100 at the top, the original SC price in the middle of the chart, and NWSCo100 and the correlation between SC and NWSCo100 at the bottom. On average (violet area chart), the relationship between SC and NWSCo100 has shown that it was stronger during the recovery rally. Over the last three months, it has beaten NWSCo100 by 85%. However, if we compare the SC green area graph with the orange index area graph while observing the correlation graph, the correlation graph gives us an explanation that the correlation is strong (Pearson’s correlation coefficient = 0.75). For 85% of the time, it was moving in the same direction as the NWSCo100. SC grew faster during the rally phase. It terms of price changes, it was a good representative of the NWSCo100 index.
In addition to presenting Skynet, the Storage Foundation for a Free Internet in February 2020, Sia is focusing on safety this year. The blockchain of Sia is secured by a Proof of Work (PoW) algorithm. A more detailed insight into their plans is available at Sia Feature Roadmap. The latest news on what the Sia team is doing can be found on the Sia blog and GitHub. They are well aware of the importance of the community, so they also invest intensively in it. They have more than 106K followers on Twitter.
About Sia – what they do
Sia is a decentralized cloud storage platform secured by blockchain technology. The Sia network leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers. Sia has its own blockchain, and a utility token that powers it – the Siacoin.
When a file gets uploaded to Sia, it gets split up, encrypted, and sent all over the world. Renters upload files, hosts store those files, and everything is automated. Once you upload your files, the network ensures that they’re always accessible to you by copying them multiple times. And they’re never accessible to hosts, because they only receive pieces of whole files that are already encrypted.
Skynet is a permanent home for data and applications. It’s an unbiased substrate where files and applications can be deployed that will long outlast their original uploader. Skynet is an independent organism that operates on marketplaces and incentive structures, rather than cloud servers and human intervention. Skynet needs to be fast, and it does not disappoint. At launch, typical time-to-first-byte when downloading a skyfile is between 300ms and 500ms. And a typical throughput for larger downloads is around 1 gigabit per second. In the near future, a performance enhancement called “skyboost” is being released which will significantly improve these numbers, especially the latency.
Sia was conceived at HackMIT in 2013 by David Vorick and Luke Champine. Over time, the crew has grown into the Boston-based Nebulous team, the core developers of Sia. The main team members are: David Vorick (Co-founder and lead developer), Luke Champine (Co-founder and core developer), Zach Herbert (COO), Chris Schinnerl (core developer) and Steve Funk (Head of Support).
Exchanges: BigONE, Binance, Bitbns, Bittrex, Coinall, CoinEx, C-Patex, DigiFinex, FEX, HitBTC, Huobi Global, Kraken, LBank, Livecoin, OKEx, OKEx Korea, Poloniex, Upbit, VALR, VCC Exchange, WazirX.
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The Crypto Highlights are considered the opinion of 2100NEWS and the material is for informational purposes only and 2100NEWS is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security nor is it to be construed as investment advice. At the time of this article’s writing, the author did not hold any coins SC.