In Q2 2023, Sia Network, a decentralized cloud storage platform, experienced a 12% QoQ increase in storage used, driving the storage utilization rate from 19% to 25% , according to a report. by Messari. This growth came despite a 3% quarter-over-quarter decline in storage contract additions, largely due to issues with third-party interfaces.

The Sia Foundation, the organization behind the Sia network, approved seven grants totaling $260,000 in the second quarter of 2023. The largest grant, worth $94,000, was awarded to S5 Network and Apps for the development of a content-driven storage network. The smallest grant, amounting to $5,000, went to SiaShare for the creation of a lightweight web service to encrypt, store and share files using the renterd interface.

Sia has also made significant progress on its development roadmap. The beta version of their “hostd” app has been published on GitHub. This application provides a user-friendly interface for storage providers, a API to manage storage revenue and resources, and an integrated web user interface that allows providers to remotely manage storage operations. In a test comparison, hostd outperformed siad, the previous hosting module, with 1.4x faster download speeds and 20x faster upload speeds.

The alpha version of Sia’s “walletd” application has also been published on GitHub. This app allows users to interact with Sia assets such as SC and SF tokens in both hot and cold wallets. It also supports multi-signature and hardware wallet integrations.

Despite the challenges faced in Q2 2023, including the closure of Skynet Labs and the temporary suspension of storage uploads to Sia by Filebase, Sia’s network has demonstrated resilience and continued growth. The increase in storage utilization and the continued development of user-friendly applications indicate a positive outlook for the network.