As blockchain-based cloud storage startup Sia plans to come out of beta on 28 June, its native currency Siacoin has surged 1,700% in the last 5 months.
Siacoin’s market cap is now over $6.5 million, recently surpassing competitor Storj’s market cap by over $1.5 million. Siacoin is now traded on two additional new exchanges, YUNBI and Bitsquare. These exchanges have joined Poloniex, the first exchange to trade Siacoin. YUNBI has opened Siacoin to Chinese markets by selling Siacoin directly for Chinese yuan.
YUNBI’s Lao Mao commented on the addition:
“Your file is saved in decentralized mode. As long as the network operates, your files are storaging in the cyberspaces. No one can control, no one can spy on, and no one can therefore ask you to have a cup of tea (a proverb in Chinese)… SIA is the first truly commercial operating cloud storage projects…”
Jordan Horwich, one of Sia’s core developers, added:
“The past 5 months have been incredibly productive for us. We’ve made dramatic improvements to our core storage protocol and network efficiency. With v1 we are committing to providing a stable API with long term support. We are excited to see what people build on top of our platform. For end users we are also in the middle of overhauling our UI with significant usability improvements.”