Cryptocurrency trading platform HitBTC has announced that it has added the cryptocurrency Siacoin as a member to its exchange.

Siacoin is one of the most prominent members of the top-25 digital currencies with the market capitalization of $9 million, at press time. According to the digital currency platform, SС/BTC market is already available on HitBTC.

The official blog stated that Sia represents a peer-to-peer network consisting of various hard drives that are connected to the united network globally. Being an actively developed decentralized storage platform, Sia network is cryptographically secured and it uses the cryptocurrency – Siacoin.

“The Siacoin cryptocurrency is a crucial part of the network since all storage contracts and payment channels require having digital coins. Roughly, this means that the Siacoin price will be increasing together with the adoption of the network itself. The Siacoin’s value is tied to the amount of used Storage on the network. Siacoin’s market capitalization has already surpassed $9,000,000, affected by a rapid growth in the middle of June 2016,” the blog post stated.

Unlike other cloud storage services like Amazon and Dropbox, the decentralized storage platform Sia leverages blockchain technology in order to reach consensus in a secure way. Sia plans to replace Bittorrent, Microsoft OneDrive, and all backend cloud storage services, in a move to become a strong storage layer of the internet. This can be achieved by the appearance of small decentralized data centers that has fastest, cheapest, and the most secure cloud storage platform.

Sia helps these small and efficient data centers to sell their storage without market trust. Sia also minimizes the barrier to entry and thus creates a wealth of cheap storage for its users.

HitBTC earlier this month announced that it has added support for Emercoin on its platform.