First initiated in 2015 by a group of technology enthusiasts from Siberia (hence the name), it was developed as the first cryptocurrency of choice for crypto local communities. However, shortly after its launch, it expanded across the border into China, and from there Sibcoin began to spread throughout the international market.
The project team has stated that its main objective has always been to develop a cryptocurrency that could be understood, accepted and used by average people.
SIB started off at INR 77.87 on 1 September 2017 and moved up to INR 89.60 on 30 September 2017.
SIB started off at INR 82.77 on 1 October 2017 and dipped down to INR 74.75 on 31 October 2017.
SIB started off at INR 69.52 on 1 November 2017 and was quickly seen trading at INR 107.80 on 30 November 2017.
SIB started off at INR 120.93 on 1 December 2017 and spiked up to INR 287.59 on 31 December 2017.
SIB started off at INR 280.88 on 1 January 2018 and dipped downwards to INR 165.44 on 31 January 2018.
SIB started off at INR 164.17 on 1 February 2018 and again moved down to INR 136.38 on 28 February 2018.
Sibcoin uses the Stribog algorithm and its mining is currently possible only with GPU which guarantees a greater degree of decentralization.
The project does a lot to literally bring cryptocurrencies closer to people. Sibcoin is one of the few altcoins that has been able to integrate to real life use cases and that can be exchanged directly for fiduciary money, and not through bitcoin.
The team has also announced that it is working on a service that could allow users to send money directly to numerous plastic cards issued under any jurisdiction at the same time.
With its increasing price and new services being developed on an almost regular basis, Sibcoin could become one of the most notorious cryptocurrencies in the world in the short term.
The prices fluctuate based on local demand and supply.