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Chia is a cryptocurrency where mining (or farming, in Chia parlance) is based on the amount of hard disk storage space devoted to it rather than processing power as with proof of work cryptocurrencies such as Bitcoin. The platform was created by a California based company called Chia Network Inc.
Chia Network Inc. is a US-based blockchain technology company. The company built the Chia blockchain that uses proof of space and proof of time consensus protocols and issues the digital currency Chia (XCH). Chia Network was founded in 2017 by Bram Cohen, the creator of BitTorrent, and Ryan Singer.
Move over Bitcoin and Doge, there's a new crypto in town. Chia, which was founded in 2017, has a key differentiator from other ones -- it is said to be eco-friendly. See: How Does Cryptocurrency ...
The Chia network launched its new green digital currency, Chia (XCH). It aims to make mining accessible to everyone. Chia Launches Energy-Efficient Token – Here Is How It Works
Chia Network is a company founded by Cohen in 2017 [6] that has implemented a proof of space-time cryptocurrency called Chia.Chia is intended to avoid the waste of energy involved in proof-of-work-based cryptocurrencies such as Bitcoin, [7] and the vulnerability to state actors of proof-of-stake systems.
"It's kind of like saying that we're gonna adopt the internet in the late 90s without having volatility in internet stocks," COO Gene Hoffman said.
Also, Chia's proof-of-time method for plotting has raised concerns over shortened lifespans of solid-state drives due to the intensity of write activity involved in plot generation (typically, plotting occurs on an SSD and then the finished plots are transferred to a hard disk drive for long-term storage).
Crypto operates on the blockchain, which essentially records the flow of information (including transactions) and, by design, aims to be transparent (provided you can access the blockchain ...