With crypto-markets in the green, it is sometimes worthwhile to scroll the list of coins and tokens on coinmarketcap.com and try to discover some gems that have not yet hit the storm crypto-versa. Today's two coins are SiaCoin (SC) is Bytecoin (BCN). The coins are classified as number 33 and number 29 on the same coinmarketcap.com compared to the market capitalization.
SiaCoin (SC) is currently trading at $ 0.0268 and up to 1.98% at the time of this writing. ByteCoin currently has a value of $ 0.00541 and is showing 2.36% gains in the last 24 hours. Both currencies have a market capitalization that is a few million times the sign of $ 1 billion (SC – $ 916.47 million and NCB – $ 994.726 million).
What is SiaCoin and why should we pay attention to the currency and the project?
Both is a cooperative file storage platform that leverages the Siacoin token, smart contracts and blockchain technology to securely store data on hosts distributed around the world. It is written in Go language and actively developed by Nebulous Inc. This latest company recently organized a private sale offer for selected buyers for the purchase of Siafunds.
Siafunds will pay a real-time transaction fee from all storage related payments on the network. This means that if you own one of the existing Siafund 10,000, you receive a piece of this transaction fee when users pay for storage space
Storage on the platform is made available on the Sia Storage Platform, and tenants access storage, using Siacoins. Siacoins is a cryptocurrency for special use exclusively for use on the Sia Storage Platform. Storage users (renters) pay for storage on Sia with Siacoins. Storage providers (hosts) on the Sia Storage Platform are required to deposit Siacoins with each file contract as collateral. Siacoin are stored on a digital wallet within the Sia software application.
What about ByteCoin?
Bytecoin is the first untraceable private cryptocurrency. It includes the decentralized aspect of the signature of blockchain and cryptocurrency to provide an open source code that allows everyone to participate in the development of the Bytecoin network. It allows users to keep their private and secure finances using its platform. Bytecoin is international, untraceable and without additional costs.
The reliability of Bytecoin is defined by the total computational power of all the computers participating in the transaction processing. The greater the processing power, the more reliable the network is. All transactions are executed every 120 seconds. Bytecoins is becoming progressively more expensive over time, as the issue is limited to 184.47 billion NCBs. The number of Bytecoin issued every 120 seconds is slightly down. As a result, BCN gains value and the exchange rate increases.
Given the brief description of both currencies and corresponding projects, it is safe to conclude that there is potential in both in terms of delivering a functioning product and yielding returns in crypto-markets.