Recent Siacoin Updates: Why 2018 Would Make a Permanent Impression on Its Future - Global Coin Report
Connect with us

Blogs

Recent Siacoin Updates: Why 2018 Would Make a Permanent Impression on Its Future

Published

on

Siacoin
READ LATER - DOWNLOAD THIS POST AS PDF

The year of 2018 has been going Siacoin’s way so far. Although the currency was introduced more than two years ago and progressed in a relatively slower pace in comparison with some other cryptocurrencies, it has managed to live up to the expectation to its traders across the world. Before Sia had been tokenized in 2016, it was a very successful ICO (Initial Coin Offering) start-up. Sia, Storj, Maidsafe, and Filecoin, all of these currencies started their journey as ICOs back in 2014. Commendably, only Siacoin managed to launch a decentralized cloud storage platform for their users.

As the beginning of 2018 was veritably devastating for cryptocurrencies like Bitcoin, various Altcoins especially the less familiar ones started using it as a golden opportunity to make inroads in the existing market. Manifestly, Siacoin was one of them and for keeping up to this fierce competition, the Siacoin development team has been tremendously busy in making ingenious implementations for their users’ convenience. Very recently, on 30th April 2018, they have published a comprehensive description of their technical progress this year. They have also unveiled their plans for this year in their 2018 roadmap. In this article, some of these on-going and imminent developments would be discussed to depict a probable future for this currency.

Notable Technical Updates:

Siacoin was introduced to provide a decentralized cloud storage network for its holders that can be easily downloaded. With the help of this network, the users would be able to upload files across a global network of 50 countries and 6 continents under strict security. The storage network would also them to mine Siacoin and sell storage spaces as per requirement. From its first version of 1.3.1, this currency has now come a long way providing more innovative and efficient versions to its users.

The Release of Version 1.3.3 and 1.3.4:

According to their technical updates released on 30th April 2018, The Siacoin version 1.3.3 is now under progress with conspicuous developments. Once this version is completed, the users would be able to enjoy the API support for video streaming of this currency’s platform. Also, the development team of this currency has announced the imminent launching of Siacoin version 1.3.4 within a few months.

Rectifying Pre-existing Errors:

The Siacoin development team has been working hard on rectifying the errors on the blockchain platform. Siacoin users have been facing some difficulties over broad reporting and pre-contract reporting. They have rectified these problems considerably so that any spending is not overlooked. They are also working inexorably on elevating the overall accuracy of this blockchain platform.

Crash Resilience of the Contractor:

This is another parameter that the Siacoin team has been working on for quite some time. For decentralized networks, implementing cash resilience becomes extremely difficult. However, the efficient team behind this currency is making this nearly impossible task possible. With their effort, Siacoin has become resilient to unexpected crashes that can effectively lead to data corruption. Although the final testing is yet to take place, the development team is hopeful about implementing this feature on this platform.

File Backup and File Sharing:

In the current version of this currency, file backup and file sharing options are basically indistinguishable. The Siacoin team has been working on making these two options separate for the convenience of their users. In the upcoming version 1.3.4, the file backup system is likely to be upgraded considerably so that the users wouldn’t have to worry about unexpected crashes of the host machine. The Siacoin team will also implement an efficient file sharing option in the imminent versions of 1.3.5 and 1.3.6 that are likely to be launched within this year.

Improved Scalability:

The principal focus of the Siacoin team has been on ameliorating the scalability of this blockchain platform over the past few months. They are likely to implement microchain based codes by the end of this summer for improving the scalability of this platform up to 10,000 times of the pre-existing transaction speed.

Current Condition of Siacoin:

Considering the incessant vying for the top spot in cryptocurrency market, Siacoin has been doing considerably well at the moment. As of 28th may, 2018, Siacoin holds the 34th position on Coinmarketcap with a price nearly tantamount to $2.33 and a market capitalization of nearly 600 million USD. As always, this currency is following a slow but steady upward trend devoid of massive fluctuations.

Final Thoughts:

Once the aforementioned developments are completed, Siacoin would be able to offer a nonpareil decentralized cloud storage platform with impregnable encrypted security and convenience. This currency has also extended its purview by partnering with popular cryptocurrency exchanges like Bittrex and Upbit. As their recent statement, they are aiming to provide a system that would not only empower individuals but also companies like Netflix or Dropbox. Under such circumstances, it is only fair that current Siacoin holders keep their trust on this coin and being hopeful of a profitable 2018.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore
READ LATER - DOWNLOAD THIS POST AS PDF

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Press Release