There are some Best Siacoin (SC) faucets available on the web and some ways in which you can receive free Siacoins.
What is Siacoin?
Sia is a decentralized Cloud storage platform with the help of blockchain technology to facilitate monetizations. On this platform, users can host files get paid or purchase hosting, mine Siacoin and contribute to the Sia project. Sia provides a decentralized option to users where they can also participate and earn some coins.
Centralized hosting is very expensive and data is not encrypted. Using decentralization and Blockchain Sia can compete for major cloud providers such as Dropbox, Amazon, and Apple.
The idea behind Decentralized Cloud Storage was conceived at HackMIT 2013 Hackathon. Sia was created by David Vorick and Luke Champi in 2015.
The long-term goal of Sia is to be the backbone storage layer of the Internet. We believe data should be free. We aim to liberate the unused bits of the world and construct the largest storage super server on the planet.
What is a Siacoin Faucet?
A Siacoin faucet is a rewarding system in the form of a website or an application which dispenses rewards for performing some certain tasks such as playing games, watching videos, completing surveys and more.
These Faucets are used as a promotional service for any new coin in the market. Faucets provide free coins which can be used by a user without purchasing it and can test the network.
Who developed the first faucet?
The first bitcoin faucet was developed by Gavin Andreson in 2010 which used to dispense 10 BTC per user.
How these Faucets are profited? –These faucets usually generate a high amount of traffic through which they make revenue from advertising. They can also create content for affiliate links and to increase Clicks on Ads. Faucets distribute these earnings to users as rewards and maintain their other operational charges such as hosting.
Where these Rewards gets stored?
Cryptocurrencies are stored in a wallet which can be in hardware such as mobile and laptop or in a web-based application. Rewards earned by a faucet are infractions, for bitcoin rewards are generated in Satoshi’s (1 Satoshi = 0.00000001 ฿). These fractions are too small they can’t be stored in a common wallet so faucets use Micro wallet. Rewards earned from a faucet is then automatically deposited to users address after a bigger amount is collected.
Some of the Best Siacoin (SC) faucets
There are some of the legit websites on the web where you can earn free Siacoins without any investment,
- SiaCoin Faucet – You can mine SiaCoin in your browser and earn some free coins while surfing on web. This site also giving away free SC tokens in every 60 minutes just provide your SC wallet address.
Becoming A Host –Earning money with faucets can be a waste of time, then you can opt for becoming a host. Becoming a host on Sia platform is very easy, you have keeps users files on your server safely. Requirements for Becoming a host –
- All-time online computer with reliable service and adequate power supply to a computer.
- The Sia-UI Client Should be installed in your computer to become a host, a wallet created with this client and few Siacoins for verification (you don’t need to spend any coins just hold it).
- Spare hard drive to rent out, the requirement is greater than 4TB.