Siacoin (SC) is a decentralized private cloud service that delivers storage on the blockchain. Sia, as it is more commonly known, takes digital files, splits them into pieces and then encrypts and distributes them. Because the file-holders own their own keys, no third parties can access their data or control their files. The decentralized cloud storage is considerably cheaper than conventional providers such as Amazon S3. Because redundancy is built into the Sia network, there is no single point of failure and uptime is maximized. Sia uses open source software and developers are encouraged to build applications using Sia’s API. Siacoin is the cryptocurrency used to pay for cloud storage. It is available on many cryptocurrency trading platforms and can also be mined.