Chia network not so green? CPU mining reportedly destroys SSD in weeks
If you want to save the world, it's going to take a lot of hard drives. Chia Network (CHIA), which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems. Unlike Bitcoin, Ether (ETH) and others, Chia Network mines coins using an alternative to the energy-intensive Proof-of-Work (PoW). Chia coins are produced using only hard drive storage, and don’t require specialized ASIC hardware, or GPUs. But reports coming out of China point suggest that saving the environment isn’t as easy as it sounds....
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Chia wants to make at-home mining cool again (or at least easy).
Chia Network, a blockchain and smart currency platform known for its storage-based mining, has raised $61 million from notable investors including Andreesen Horowitz. https://t.co/MQ8U7Y4SVW — Chia Project (@chia_project) May 24, 2021 The San Francisco-based company is now valued upwards of $500 million based on the funding round. Breyer Capital, Slow Ventures, True Ventures, Cygni Capital, […]
OKEx, a prominent crypto exchange and derivatives platform in the industry has announced the inclusion of Chia Network’s native crypto asset. The listing of XCH went live on May 3, enabling users to trade XCH/USDT and XCH/BTC trading pairs. A creation of Bram Cohen, known for inventing the BitTorrent Network, Chia Network is a highly […]
On May 3, tokens stemming from the Chia network, a smart transaction blockchain created by the Bittorrent creator Bram Cohen, will start trading and transactions will be fully enabled. Rather than leveraging the proof-of-work consensus algorithm, Chia will utilize a model called proof-of-space which relies on storage. With Chia’s transactional launch pending, the project has sparked shortages over the demand for hard drives and solid-state drives (SSDs). Chia Network Fuels High-End Hard Drive and SSD Shortages Bram Cohen, the inventor of the popular torrenting application Bittorent....
A guide to Chia Network: farming, building a rig, the hard drive deficit and the future of the project. Chia Network recently entered the cryptocurrency scene and has quickly piqued the interest of many miners and investors. There are several reasons for this: First, the Chia blockchain operates using a novel proof-of-space-and-time (PoST) protocol, which means that proof of the space used and time spent on the task is required to farm the cryptocurrency.Second, according to the creators of the currency, Chia (XCH) is an environmentally friendly coin and is not mined, rather it’s farmed,....