![]() ![]() Its creator Bram Cohen also developed the popular file-sharing system BitTorrent. The Chia Network was founded in August 2017, shortly after the Chia Coin (XCH) was born. Once sufficient space has been obtained, users employ a farming rig or pool such as Raspberry Pi to help plot the coin. The greater the farmer’s space on the network the greater the chance of winning a block. Chia cryptocurrency ticker symbol software#The process of farming requires less technical knowledge than mining and all that’s needed is sufficient storage space and software provided by the XCH network. Instead of mining, Chia uses farmers who retain storage capacity called farming plots which are available on hard drives. The Chia network runs off a Proof of Space system which relies on storage space rather than computing power, offering a less energy-intensive way of verifying transactions. A recent study found that the annual energy usage required for Bitcoin was greater than the total output of nations like Sweden and Argentina. The premise of PoW coins is that miners compete against each other which uses a vast amount of energy that negatively impacts the environment. What Is Chia?Ĭhia was designed to address the environmental failings of traditional Proof of Stake (PoS) and Proof of Work (PoW) coins such as Bitcoin. OKX is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees. As more and more exchanges offer Chia we will review them and add the best to our top list. Chia is still a very new coin and is not offered by most crypto exchanges yet. We are currently reviewing additional brokers that offer Chia trading and will soon list the top ones below. Chia cryptocurrency ticker symbol how to#We also explain how to start trading Chia, from the best exchanges to farming strategies. Our review explains how the emerging crypto achieves this and why it’s growing in popularity. ![]() Traditional coins have faced an environmental backlash for the amount of energy required for mining, but the Chia network takes a more sustainable approach.
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