Siacoin (SCBTC) hit a low of 17 satoshis back in September 2019. This quickly led to a strong bounce which produced a bullish wave that peaked at 30 satoshis.
More than 4 months later, this 17 satoshis support is taken out and a new low is hit at 15 satoshis, but prices quickly moved back up giving us a weekly close at 18 and prices are now trading above EMA10. These are bullish signals.
We also have a falling wedge pattern on the chart. Once the black trendlines are broken, we can easily see Siacoin moving higher, the main target is sitting at 39 satoshis.
The Sia team just announced the primary developments including skynet today. It's absolutely incredible! Please go to discord to see all the information in the contributors channel. Here's a snippet of what was released today:
When we launch Skynet, sialinks will be able to support data of up to 400 GiB. At launch, the fetch latency on a Siafile is expected to be around 500ms, and the throughput it expected to be >250mbps. For video skynet links, full 4K video streaming should be supported with no issues. The key thing about sialinks is that anyone can upload a file to the Sia network and create a link for that file. When you upload a file to Sia and create a link, you are effictively "pinning" that file. So long as you continue to pay for that file, it will remain "pinned" and accessable to anyone with the link. The Sia network will keep the file online for you, you will not need to keep your computer online all the time in order for that file to be made available to the rest of the world. But what's described above is just Phase I of Skynet. Phase II of Skynet unlocks something altogether much more powerful. The ability to put dynamic content on the Sia network. A Phase II Skynet link is going to look something like this:
/blog/# Anyone with that link will be able to see my blog As I publish new content on my blog, the link will be pointing to the new content. 'The decentralized web' - but actually done properly this time. It's perhaps not obvious, but the ability to update content that a sialink points to is exteremly powerful. From that, you could build a decentralized blogging platform. Or a decentralized twitter Or decentralized youtube, decentralized facebook, decentralized snapchat, decentralized instagram, decentralized soundcloud. I think you get the picture. The vast majority of social apps today can be fully rebuilt on Skynet Phase II As we continue to push out features of Skynet, we will release guides and software tools to help developers build their own applications on top of Skynet.
There Is allso a new update coming to sia, speculation going on in SIA telegram and Discord after a developer mistakenly said something about Skynet Aplha.
@Dmoootje, The Sia team just announced the primary developments including skynet today. It's absolutely incredible! Please go to discord to see all the information in the contributors channel. Here's a snippet of what was released today:
When we launch Skynet, sialinks will be able to support data of up to 400 GiB. At launch, the fetch latency on a Siafile is expected to be around 500ms, and the throughput it expected to be >250mbps.
For video skynet links, full 4K video streaming should be supported with no issues.
The key thing about sialinks is that anyone can upload a file to the Sia network and create a link for that file.
When you upload a file to Sia and create a link, you are effictively "pinning" that file.
So long as you continue to pay for that file, it will remain "pinned" and accessable to anyone with the link.
The Sia network will keep the file online for you, you will not need to keep your computer online all the time in order for that file to be made available to the rest of the world.
But what's described above is just Phase I of Skynet.
Phase II of Skynet unlocks something altogether much more powerful. The ability to put dynamic content on the Sia network.
A Phase II Skynet link is going to look something like this:
sia://taek.sia/blog/
Anyone with that link will be able to see my blog
As I publish new content on my blog, the link will be pointing to the new content.
'The decentralized web' - but actually done properly this time.
It's perhaps not obvious, but the ability to update content that a sialink points to is exteremly powerful.
From that, you could build a decentralized blogging platform.
Or a decentralized twitter
Or decentralized youtube, decentralized facebook, decentralized snapchat, decentralized instagram, decentralized soundcloud.
I think you get the picture.
The vast majority of social apps today can be fully rebuilt on Skynet Phase II
As we continue to push out features of Skynet, we will release guides and software tools to help developers build their own applications on top of Skynet.
Thanks again for your great analysis of Siacoin. Please see below my update about released information by the core devs today. It seems Sia is about to make an incredible breakthrough with decentralized web where most apps, twitter, youtube, facebook, instagram, snapchat can all be remade in a decentralized and censorship proof way via the Sia skynet platform that is soon to be released.
UnknownUnicorn2122263
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@Prothius187 how does this make any big difference from blockstack ?
Prothius187
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@Habib0x, Not sure what you're referring to. Sia is one of the longest projects that is actually in current use, unlike most of the blockchain projects out there. Currently, there are 3 companies using Sia for commercial products. Filebase.com, Storewise.tech, and Sia-cloud.tech. Sia is one of the only blockchain projects to be in actual use at this time. The release of skynet from my understanding will allow development towards Internet 2.0 which will be fully decentralized and censorship proof in addition to being fully secured for the individual user returning power to each user instead of a centralized entity. This is probably one of the biggest developments of our time right now.
AlanSantana
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@Prothius187, Thanks for the detailed comment and useful information, appreciated.
reddit.com/r/siacoin/comments/elqcyi/taek_teases_skynet_huge_news_in_the_pipeline/?utm_medium=android_app&utm_source=share