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In Sia both the renter and the host pay up front (host is putting up collateral). The payment is held for the duration of the contract (typically 12 weeks), and
by Taek 9y ago
In Sia both the renter and the host pay up front (host is putting up collateral). The payment is held for the duration of the contract (typically 12 weeks), and then the host only receives the full payment if they complete a proof of storage on the blockchain.
This means the host is guaranteed to get paid even if the renter disappears forever on week 2.
You can't set that up on Bitcoin.
- philtable 9y agoSia is quite volatile. If the payment is held for 12 weeks, the host has no idea what that payment will be worth. Do you have a mechanism preventing this issue?
- hndamien 9y agoYou know what it is worth at the start of the contract, just like when working with foreign currencies. But yes, volatility is an issue that I presume will be less of an issue as it grows.