Sia uses a blockchain to process payments. You can earn money when you host files on Sia, contribute to the project, mine Siacoin, and rent storage on Sia. Cloud storage providers, however, are centralized.
You can donate disk storage from your computer to create a decentralized network. If you have some siacoins, you can rent cloud storage from hosts on the network through smart storage contracts. These contracts provide payments to hosts after keeping the file for a certain period. If the host loses a file, he/she will not earn money.
The Sia network, thanks to its decentralized nature, allows for many improvements in security, latency, dependability, and throughput. Its distributed nature allows people with storage to earn money, thereby reducing the cost of cloud storage and lowering the entry barrier.
This cryptocurrency is live. Therefore, you can rent cloud storage using siacoins. Those who provide storage receive payment through siacoins. Due to the fact that the platform is still in beta, the wallet can only support uploads not bigger than 500mb.
