Founded by great programmer Bram Cohen, Chia Network can use cheap, redundant, and unused hard disk storage space to verify its blockchain. Chia performs verification based on file storage space and eliminates many attacks by combining such space with Proof of Time. In CHIA, the resource is disk space rather than computing power. To achieve this goal, the “Proof of Work” used in Bitcoin is replaced with “Proof of Space”. As a result, disk space becomes the main source and proof of time which reach Nakamoto style consensus to verify transactions. CHIA Network is also a smart trading platform.
Full Name in English: Chia Network
Token symbol: XCH
Investor/Institution: Slow Ventures, Naval Ravikant, Breyer Capital, Collaborative Fund, IDEO Colab, a16z Crypto, True Ventures, Galaxy Digital, Cygni Capital, Greylock Partners, DCM, Metastable, StillMark Capital, and Kamal Ravikant
Issue date: March 18, 2021
Total supply: /
Circulating supply: /
Official website: https://www.chia.net/cn/
Blockchain explorer: https://www.chiaexplorer.com/blockchain/blocks
Disclaimer: this introduction derives from the white paper and other official information released by the official project team so that investors can better understand the token and the corresponding project. The content of this paper is obtained through legal channels to ensure the reliability, accuracy and completeness of the information as far as possible, but the accuracy and completeness of the information mentioned in the report are not completely guaranteed. The content of this paper cannot be used as the basis for investment research decisions, moral, responsibility and legal basis or evidence, whether explicitly or implicitly.