Siacoin
SC
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Siacoin (SC) presents a mixed profile characterized by sustained core engineering efforts against structural tokenomic and governance headwinds. Active Development (7.0/10) remains a core strength, marked by the completion of the multi-stage Sia v2 network upgrade in December 2025 and ongoing walletd/node releases through mid-2026. The foundational team (5.5/10) has a tenured operating history dating back to 2013-2015 with public founders and no protocol-level exploits. However, the project faces notable challenges in Tokenomics (4.5/10) and Market & Use Case (4.5/10), driven by an uncapped, permanently inflationary block emission model (60,000 SC per block split between miners and the Sia Foundation), heavy Siafund control, intense cloud storage competition, and limited verifiable commercial demand metrics. Security and Audit History (3.5/10) is constrained by an absence of formal third-party audit reports and a ~99.5% drawdown from all-time highs, despite a clean incident record with no protocol-level exploits or regulatory actions. A data gap occurred in Community Support (-1.0), as retrieved sources lacked usable vitality or engagement metrics, so its 15% weight was redistributed proportionally among the remaining five sections. No qualifying red-flag events were established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Siacoin (SC)
Siacoin (SC) is the native cryptocurrency of Sia, a decentralized cloud storage network founded in 2013 by David Vorick and Luke Champine and launched publicly in June 2015. Operating on its own dedicated Layer 1 blockchain, Sia connects users seeking data storage with independent hosts offering unused hard drive capacity. Renters utilize SC to pay storage providers, while hosts lock SC as collateral to guarantee service delivery and file availability.
The network utilizes a Proof of Work (PoW) consensus mechanism with an uncapped, permanently inflationary issuance model. Each mined block generates a fixed reward of 30,000 SC for miners alongside an additional 30,000 SC allocated directly to the Sia Foundation, with no maximum supply cap or fee-burning mechanism. Technical development has continued over time, including the multi-stage Sia v2 network upgrade completed in December 2025 and subsequent maintenance releases such as v2.14.1 in July 2026.
While the protocol has operated for roughly a decade without direct smart contract exploits or protocol breaches, it faces several structural and market challenges. SC has experienced a steep price decline, trading approximately 99% to 99.5% below its all-time high with a market capitalization between $23 million and $36 million. Additionally, the project lacks publicly verifiable third-party security audit reports, relies on a centralized governance structure managed by the Sia Foundation and corporate entity Nebulous Inc., and features heavy concentration of Siafunds among the core team.