BitMart Lists Siacoin (SC) on December 16th

Sia serves as a trustless and secure marketplace for cloud storage, where users can rent out their unused storage space.

Cryptocurrency exchange BitMart will list Siacoin (SC) on December 16th. The trading pair for Siacoin on this exchange will be SC/USDT.

This listing was announced by BitMart via an official statement on Friday, highlighting the addition of Siacoin to its platform. The exchange noted that SC will be available for trading on BitMart from 9:00 AM (EDT) on December 16th.

With the addition of Siacoin, BitMart now offers a total of 343 cryptocurrencies for trading on its platform. The exchange also provides various services, including spot trading, fiat trading, and futures trading.

Moreover, BitMart is known for its competitive trading fees and user-friendly interface, making it a popular choice for both初心者 and experienced traders.

To celebrate the listing of Siacoin on BitMart, the exchange will be hosting a trading competition from December 16th to December 23rd. During this period, users who trade SC will have a chance to win a portion of a 100,000 SC prize pool.

Siacoin is the native utility token of Sia, a decentralized cloud storage platform built on blockchain technology. Siacoin has an unlimited supply to match the potentially limitless demand for data storage and transactions on the network.

New Siacoins are minted as mining rewards via a proof-of-work algorithm, with the mining reward now fixed at 30,000 SC per block. The introduction of The Sia Foundation has led to a doubling of the block reward, with half going to the Foundation. Siacoins are removed from circulation when hosts forfeit their tokens due to bad actions.

The Sia team plans to implement a proof-of-burn mechanism where hosts must burn a portion of their earnings to demonstrate their legitimacy. The Sia development team pre-mined approximately 30 million SC before public release, but the team and investors hold less than 0.1% of the total Siacoin supply.