Binance Announced its Listing of Siacoin (SC)

Binance Announced its Listing of Siacoin (SC)

Earlier, Cryptopia a crypto exchange famous for its massive altcoin with a little volume of trading discontinues support for Siacoin because of its small trading volume. Now Binance one of the largest exchange lists Siacoin. This is a very bold move from Binance. This represents a significant step forward in the roadmap of its blockchain.

According to the information given on the website of BInance, Binance will open trading for SC/BNB, SC/BTC and SC/ETH trading pairs at 2018/06/14 11:00 AM (UTC).

According to cryptocompare, the other exchanges who are currently listing Siacoin among their trading pairs are Poloniex, HitBTC and UpBit.

Sia is a blockchain that aims to democratize cloud storage.

The introduction stated in the Binance’s announcement of listing Siacoin sounds revolutionary.

“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.”

The decision to list Siacoin might prove to be good for both Binance and Siacoiners.

It is very obvious that once the trading starts, Binance will surely surpass the other exchanges who have listed Siacoin. And thus would become the primary way to obtain Siacoins or speculate with them.

Services offered by Sia are relatively similar to that of Oyster Pris. Oyster Pris is a blockchain that has recently announced its mainnet launch.

It is too early to speak of the reactions in the global market but as it was observed that there was a slight short-term increase of about 10% in the price.

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