Siacoin SC to Melon MLN Exchange

Crypto Pair Details: SC to MLN

Siacoin SC

Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers. The only difference is Sia uses blockchain to facilitate transactions Nodes provide storage to clients using the Sia blockchain as contracts. Before storing the data, the data is encrypted into many pieces and uploaded to different hosts. Siacoin is created by David Vorick and Luke Champine of Nebulous Inc. As the traditional storage platforms are higher in cost, more expensive and data is not well protected. Siacoin promises to offer secured storage transactions with smart contracts which is more affordable and reliable. Moreover, it is completely open source which means many individuals have contributed to Siacoin’s software hence there will be an active community building innovative applications on top if the Sia API. In 2018, Siacoin aims to introduce file sharing and be the go-to cloud storage platform for companies. Their goal is divided into 3 time frames which are short-term, medium-term and long-term development. Short-term development focuses on file sharing between Sia users. This allows Sia users to share files in the platform without having to take it off the cloud while increasing network utilization. Medium-term development’s goal is to enhance partnerships. This means reaching out to large companies like Netflix and Dropbox to hopefully be able to be their storage and distribution framework. Lastly, long-term development aims to expand its horizon to share files with non-Sia users and support mobile wallets.

Melon MLN

The fast-growing demand for cryptocurrencies calls for a convenient way to administer them. Melon is one such platform that works through a blockchain protocol allowing easy and efficient maintenance of cryptocurrencies. Acting as a hedge fund, Melon presents a fully customizable administration of your digital assets. You can use it as an online vault that allows you to store and transact your funds through its web portal. Melon was developed to meet the need for a cost-efficient and technologically advanced hedge fund to manage digital assets. Reto Trinkler and Mona El Isa founded the company, Melonport AG in July 2016. The company created Melon as a digital asset management protocol. It is a first of its kind system that enables the users to store, administer, and invest in crypto assets through a decentralized network. Melon works through a fully decentralized infrastructure. All the information of the user, such as smart contracts, assets, and records are saved on a decentralized blockchain network. It not only offers reliability for the storage of information but also reduces the risk of custody. The protocol also offers a decentralized system of execution through the Ethereum Virtual Machine (EVM). Smart contracts are distributed across multiple Ethereum networks to provide better efficiency and security for the assets. With the Melon protocol, users can save both time and money for investing in a hedge fund. Additionally, there is no requirement of a third party approval from a lawyer or advisor. Melon’s ICO was launched in February 2017 and sold out within 10 minutes. Melonport is aiming to bridge the gap between the portfolio managers and the investors by removing the role of the third parties such as law firms. Melonport’s CEO, Mona El Isa comes from a strong financial background and is versed with the problems of the investment industry. There is still a lot of work to be done on the Melon project, even though things are looking quite positive already. An audit of the protocol has been completed already, and the project continues to advance. No further specifics have been provided on the website, although it remains to be seen what the future holds. Bringing more value to Melon Coin would be a good idea, yet it remains to be seen how that might be achieved.

SOURCE: COINGECKO

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