Siafunds

Sia is reinventing cloud storage. Our technology connects users who need file storage with hosts worldwide offering underutilized hard drive capacity. Blockchain technology secures their data and enables improved economics for users and hosts.

The Sia blockchain allows this marketplace to run without an intermediary. Sia secures storage transactions with smart contracts, creating a more reliable and affordable offering when compared to traditional cloud providers. No one person or organization can censor or deny access to data—not miners, not developers, nor any government. We believe Sia’s distributed, decentralized storage technology is stronger, more secure, more efficient, and more equitable for the entire ecosystem.

We believe that neither individuals nor institutions should be beholden to large corporations. Sia was created to promote and safeguard users’ freedoms. It’s our attempt to bring decentralized storage built on blockchain technology to the mainstream without sacrificing price or performance.

Our long term goal is for Sia to become the backbone storage layer of the Internet.

Nebulous, Inc. was established in 2014 and launched the Sia Storage Platform in 2015. Based in Boston, Nebulous is funded by Raptor Group, First Star Ventures, Fenbushi Capital and INBlockchain.

Blockchain technology is demanding new, innovative business models. When designing the Sia network, we worked to ensure that incentives are focused on long-term product development and growth.

This effort led us to build two complementary cryptocurrencies: Siacoin and Siafunds. Siacoin is a utility token that allows users to buy and sell storage space on the Sia network. It was never used for fundraising, and is mined via proof-of-work on ASICs to ensure security and decentralization.

Siafunds pay out a real-time transaction fee from all storage-related payments on the network. This means that, if you hold one of the 10,000 Siafunds in existence, you receive a piece of this transaction fee as users pay for storage space.

Because Siafunds only generate revenue when users pay for storage, holders are incentivized to take a long-term view and directly contribute to product development and growth.