Price (USD)$ 43.19
Circulating SupplyXCH 4.75353M
Volume (24h)$ 2.81862M
Market Cap$ 204.96005M
Low/High 24h$ 42.67 - $ 44.24
Change (24h)-$ 0.807346
Chia Network is a blockchain platform for creating and executing smart contracts. The project was created by an American programmer and founder of the BitTorrent network - Bram Cohen. Chia is governed by Chia Network Inc, a company with a plan to go public and an ambitious goal to make Chia an “enterprise-grade digital money”. Want to learn more about the Chia crypto project? Keep reading StealthEX's new article to learn more about this unique project.
According to the Chia Network developers, Bitcoin mining is harmful to the environment and requires powerful computing resources that are inaccessible to most users. So Chia tries to find solutions to these problems by leveraging PoW blockchains' key features and combining them with new technological solutions.
The Chia Network blockchain was developed on the basis of a unique Proof-of-Space-and-Time consensus algorithm. The project developers proposed a mining process using the computer's disk space, rather than its computing power. With this approach, the probability of block mining is proportional to the amount of allocated space divided by the total network power. This method is supposed to be more environmentally friendly and more cost-effective than Proof-of-Work.
The Chia Network is written in a new programming language called Chialisp. This language is powerful, easy to audit, and secure.
The Chia Team’s main goal is to be greener, more energy-efficient, and easier to use than those of other cryptocurrencies. While some of them are mined using alternative energy sources, their sustainability still remains a problem.
Due to Chia using its PoST algorithm, it can be way more eco-friendly than the original Bitcoin. What does that entail? To "farm" Chia, you need a large number of empty hard discs to house "plots" which are then awarded a number of blocks based on available space.
Chia’s creator Bram Cohen believes this method is more reliable, secure, and greener than how cryptos like Bitcoin operate. In general, Chia’s unique selling point is farming - a substitute for mining that does not pollute the environment.
In addition, Chia has significantly better security due to its more decentralized blockchain. And Chia’s team is taking a new approach to funding, building, and supporting a blockchain via an eventually public, for-profit, open-source development company that holds a pre-farm.
Chia crypto started trading on May 3, 2021, as a green alternative to Bitcoin. It was a pretty good start with a price at $1,934 per coin. This mark remains Chia coin’s all-time high price today. Despite a great start, XCH’s price went down to the level of $600 - $700 in a few days. Nowadays its price is even lower.
DigitalCoinPrice experts predict that XCH can roughly be up to $55.13 in 2 years' time. They promise that in 2030, the coin’s average price will fluctuate around $171.62. Meanwhile, TechNewsLeader experts believe that XCH will be worth $494.88 in 5 years and $3,142.86 in 10 years.
XCH coin price today is 43.19 USD.
Chia Network is a promising project that reflects the demand for sustainability and easy mining solutions. We recommend you to keep an eye on Chia Network as its future price may change despite all negative price perditions.
You should remember that the crypto price depends on various factors: development announcements, the crypto environment in general, legal position, and so on. So if Chia Network Team will show the world new technological solutions the experts’ opinions possibly will change as well as Chia’s price.
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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.