Sia is a Proof of Work blockchain that powers a decentralized file storage network. Renters pay to store data and hosts earn by renting out spare disk space, with payment terms recorded on chain as storage contracts. The network launched in 2015 and is developed by the non-profit Sia Foundation. Here is how it works and what it is used for, not the price.
Total value locked (DeFi)
n/a
Value locked in DeFi protocols on Siacoin. Updated Jun 8, 2026. Source: DefiLlama.
Miners use the BLAKE2b hashing algorithm to compete to add blocks roughly every ten minutes, securing the chain and earning SC. The blockchain also records storage contracts between renters and hosts, so file agreements and payments are settled on chain rather than by a central provider.
Consensus: Proof of Work (BLAKE2b)
Miners use the BLAKE2b hashing algorithm to compete to add blocks roughly every ten minutes, securing the chain and earning SC. The blockchain also records storage contracts between renters and hosts, so file agreements and payments are settled on chain rather than by a central provider.
Storage contracts
A renter and a host agree terms on chain. The host locks collateral and is paid in SC over the life of the contract for storing the renter data.
Renters and hosts
Renters pay to store files. Hosts offer spare disk space for rent. Anyone can act as either, and the two sides are matched through the network.
File redundancy
Uploaded files are encrypted and split into many pieces spread across multiple hosts, so data stays retrievable even if some hosts go offline.
Client encryption
Files are encrypted on the renter side before upload, so individual hosts cannot read the data they store.
Ecosystem & usage
What Siacoin is used for.
Sia is used for decentralized cloud storage, backups, and applications that need to store data without a central provider.
Decentralized storage
Renters store files across a network of independent hosts instead of a single cloud provider, paying for capacity in SC.
Hosting spare capacity
Operators rent out unused disk space as hosts and earn SC for serving and storing renter data.
Backups and archives
The redundant, encrypted design suits backups and long-term archival storage spread across many hosts.
In Zypto App
Hold, swap and spend SC.
Siacoin is integrated in Zypto App. Hold SC in self-custody, swap it to any supported asset, and use it across Zypto’s features.
Sia is a Proof of Work Layer 1 blockchain that powers a decentralized file storage network. Renters pay hosts to store data, with terms recorded on chain. Its native token is SC.
What is SC used for?
SC is the native token. Renters pay for storage in SC and hosts earn SC for renting out their disk space. SC is also used for transaction fees.
How does storage work on Sia?
Files are encrypted, split into pieces, and stored across multiple independent hosts. Renters and hosts agree storage contracts on chain that set the price and duration.
Who develops Sia?
Sia is developed by the non-profit Sia Foundation, which maintains the open-source software for the blockchain and storage network.
Can I hold SC in Zypto App?
Not yet. SC isn't in Zypto App at the moment. You can hold it in any self-custodial wallet, and you can ask us to add Siacoin using the "Request Siacoin" button above.
