Siacoin

SiaCoin is a cloud storage cryptocurrency platform created by the blockchain and software development company Nebulous Labs on May 14, 2015. The company is based out of Boston, Massachusetts, and was founded by David Vorick and Luke Champine. 



The Siacoin platform consists of a decentralized network of nodes located around the world. It enables users to store important data in a cloud platform that is secure and distributed in the network, preventing intrusions and violation of data privacy.Siacoin uses a Proof-of-Work (PoW) consensus mechanism and a BLAKE2 cryptographic hash function. 

Funding

Venture

On September 8, 2016 Siacoin raised $750,000 thousand in funding bringing there total ventyure capital funding to $1.25 million. Companies participating in the venture capital rounds include: Five Star Ventures (also known as Procyon Ventures), Raptor Group, Fenbushi Capital, and Xiaolai Li.