A major contributor to this article appears to have a close connection with its subject.(May 2021) |
Denominations | |
---|---|
Code | XCH |
Precision | 1012 |
Development | |
White paper | www |
Initial release | 1.0.0 / 17 March 2021 |
Latest release | 2.3.0 [1] / 1 May 2024 |
Code repository | github |
Development status | Active |
Written in | Python |
Operating system | Microsoft Windows, macOS, Linux, Raspberry Pi OS |
Developer(s) | Chia Network Inc. |
Source model | Open source |
License | Apache License |
Ledger | |
Ledger start | 19 March 2021 |
Timestamping scheme | Proof of space and time |
Block time | About 18.75 seconds |
Block explorer | spacescan |
Website | |
Website | www |
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. The Chia Network was founded in 2017 by American computer programmer Bram Cohen, the author of the BitTorrent protocol. [2] In May 2021, Chia Network raised a $61 million investment, valuing the company at about $500 million. The same month, the company announced plans to conduct an IPO before the end of 2021. [3] [4] [5] As of 2023, Chia had filed a draft registration with the Securities and Exchange Commission towards an IPO. [6]
In China, stockpiling ahead of the May 2021 launch led to shortages and an increase in the price of hard disk drives (HDD) and solid-state drives (SSD). [7] Shortages were also reported in Vietnam. [8] Hard drive manufacturer Seagate said in May 2021 that the company was experiencing strong orders and that staff were working to "adjust to market demand". [8] In May 2021 Gene Hoffman, then president and current CEO of Chia Network, admitted that "we’ve kind of destroyed the short-term supply chain" for hard disks. [9] [10] During the first months since Chia's launch, concerns were raised about the prerequisite plotting process drastically limiting a hard drive's lifetime. [11]
Bram Cohen is an American computer programmer, best known as the author of the peer-to-peer (P2P) BitTorrent protocol in 2001, as well as the first file sharing program to use the protocol, also known as BitTorrent. He is also the co-founder of CodeCon and organizer of the San Francisco Bay Area P2P-hackers meeting, was the co-author of Codeville and creator of the Chia cryptocurrency which implements the proof of space-time consensus algorithm.
Brock Jeffrey Pierce is an American entrepreneur known primarily for his work in the cryptocurrency industry. As a child actor, he starred in the Disney films The Mighty Ducks (1992), D2: The Mighty Ducks (1994), and First Kid (1996). He ran as an independent candidate in the 2020 United States presidential election.
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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. Its headquarters are in South San Francisco, California.