📌Crypto News _ The Chia Network🌱

By lydone | Crypto_Lyd | 6 May 2021



Few days ago, a new name has taken over the cryptocurrency market: Chia Network.

The new digital currency introduces the concept of "farming" instead of "mining", using hard disks and not GPU. One of the biggest problem on "mining" regards the domestic consumption of electricity and its environmental impact due to the excessive consumption of energy resources.

Chia Network wants to be the first eco-friendly cryptocurrency.


What is Chia?

Chia was incorporated in August of 2017 to develop an improved blockchain and smart transaction platform. 

Chia is the first enterprise-grade digital money that is using the new Nakamoto consensus algorithm. Called Proof of Space and Time, it was created by Bram Cohen, the best network protocol engineer alive and the inventor of BitTorrent.

Chialisp is Chia’s new smart transaction programming language that is powerful, easy to audit, and secure. Reference smart transactions currently available are: atomic swaps, authorized payees, recoverable wallets, multisig wallets, and rate-limited wallets.

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