Siacoin offers a decentralised open-source economical solution for cloud repositories. Launched in 2015 by its CEO David Vorick, the network enables its peers to effectively distribute and encrypt files of any size and format. Users-owned private keys ensure that no mediators have access to or track information stored on the blockchain cloud. As a result, the platform offers trustworthy, transparent and 100% private cloud storage secured by the blockchain technology. Siacoin native token SC was developed specifically for utilization within the Sia system. SC activates smart contracts, which are responsible for user interaction and disk space usage. Full-fledged system functioning is impossible without Siccoin.