Why did the green currency Chia suddenly explode? A quick look at what sets Chia Network apart

Original title-zce | What is the green currency CHIA? In-depth analysis of Chia Network Recently, Chia has exploded in the circle, and the circle of friends is already green. The author has also followed Chia for a long time. Today, I will talk about Chia with you (it is called Chia in China). 1. Project origin The origin of Bitcoin is the financial crisis in 2008. Satoshi Nakamoto left a message in the Genesis block: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." The time stamp of the centralized currency is over-issued and the phenomenon of random money printing is written into the blockchain, and the blockchain is used to announce the birth of Bitcoin, a decentralized and trustless cryptocurrency; but with the development of the Bitcoin network Slowly expanding, the ordinary home computer CPU that can mine at first has been completely unable to mine bitcoins, and then to GPU and then to the current ASIC chip mining, it can be said that it is getting farther and farther away from Satoshi Nakamoto's original intention, while bitcoin mining production The huge energy consumption generated by the environment has also attracted more and more people's attention. Bram Cohen, the creator of Chia, believes that Bitcoin mining - "The waste is just gross and horrible." (The waste is huge and horrible.) JVCEA will soon release a green list of 18 mainstream cryptocurrencies to speed up the online process: On March 22, it was reported that the Japanese cryptocurrency exchange plans to simplify the online process of new cryptocurrencies in order to increase its competitiveness in the face of foreign cryptocurrency trading platforms. The Japan Virtual Currency Exchange Association (JVCEA), a self-regulatory body of 31 local crypto exchanges, is preparing to release a “green list” of 18 major cryptocurrencies by the end of March, Nikkei reported on Tuesday. The green list is designed to prevent Japanese cryptocurrency exchanges from having to screen cryptocurrencies through the JVCEA every time they list them on their trading platforms. According to reports, the JVCEA stated that digital assets on the green list will no longer be subject to review. The upcoming green list will include some of Japan's most actively traded cryptocurrencies such as BTC, ETH, XRP, and LTC, among others. The conditions for joining the green list include being listed on three exchanges in Japan, at least one of which must be listed on the digital asset for at least 6 months. (Cointelegraph)[2022/3/22 14:11:33]Based on this, Cohen started to create Chia Network, a green, based on POSapace and Time (time and space-based consensus mechanism) to create low energy consumption, easier to use, A safer, more decentralized blockchain. At the same time, it stated "Here we go again" in Linkin, aiming to continue to be a decentralized project that everyone can participate in like BitTorrent, and believes that the success of Chia will change the current cryptocurrency landscape. Coincheck will build the metaverse city "Green Kyoto" on Decentraland: On March 17th, the Japanese cryptocurrency exchange Coincheck announced that it will build another Metaverse platform Decentraland (MANA) following the "Green Tokyo" it has built. In terms of construction, the metaverse city "Green Kyoto" aims to cultivate a place for artists, fans and corporate communities in various fields to interact through fashion, music and art. It is reported that "Green Tokyo" is built on the platform of The Sandbox Metaverse. (Coinpost) [2022/3/17 14:02:51] 2.Chia introduced POS and POT Proof of Space-time Proof of Space (PoSpace), also known as Proof of Capacity (PoCapacity), was originally proposed by Dziembowski and Ateniese et al. in 2015 Proof-of-Space is very similar to Proof-of-Work, except that storage is used instead of computation. Proofs of space are related to memory difficulty functions and proofs of retrievability, but are also quite different. Proof of space is a piece of data sent by the prover to the verifier to prove that the prover has reserved a certain amount of space. In order to ensure effectiveness, the verification process needs to consume a small amount of time and space to ensure high efficiency. If the prover does not reserve space for the proof, it is difficult to pass the verification. The way to implement space proof is to use illegible graphics, that is, the verifier asks the prover to create a graphic label that is difficult to piece together, the prover submits the label, and then the verifier asks the prover to randomly select several labels in the submitted label. With the release of Bitcoin, relevant scholars and technicians began to study alternatives to mining mechanisms in the context of cryptocurrencies, including PoSpace. So far, some related theories and applications of PoSpace have begun to be published. Secretary of the Sichuan Ganzi Prefecture Party Committee: The blockchain industry is an emerging industry in line with green and high-quality development: Recently, the state-wide blockchain industry development symposium was held in Kangding. Liu Chengming, Secretary of the State Party Committee, said that all departments at all levels must thoroughly study and implement the spirit of General Secretary Xi Jinping's important speech on blockchain technology, and deeply understand that the blockchain industry is a project that is in line with the positioning of the Northwest Sichuan Ecological Demonstration Zone and in line with green and high-quality development. It is of great significance to promote the construction of hydropower consumption parks in our state and make up for the economic losses caused by the epidemic. It is necessary to actively encourage and support blockchain enterprises to accelerate upgrading and transformation, increase policy support in power, finance and taxation, and financial services, and promote the deep integration of blockchain and the real economy. Relevant counties (cities) and departments should improve their standing, strengthen collaboration, and cooperate closely, further strengthen the guarantee of elements such as electricity, speed up the progress of project construction, and fully promote the construction of blockchain industrial parks. (Garze Daily) [2020/5/14] How it works Think of Proof of Space as a way to prove that you have unused some storage on your hard drive. Users of the Chia blockchain will "seed" unused space on their hard drives by installing software that stores an encrypted set of numbers on disk as a "plot." These users are called "farmers". When the blockchain broadcasts the challenge for the next block, farmers can scan their plots to see if they have the closest hash to the challenge. The probability that a farmer wins a block is the percentage of the total space that the farmer occupies across the network. Proof-of-time requires a small amount of time to pass between blocks. Proof of time is implemented with a verifiable delay function that takes a certain amount of time to compute but is very fast to verify. The key idea of VDFs is that they require sequential computation, and since there is no benefit to having many parallel machines, power waste is minimized. There may be relatively few VDF servers ("Timelords"), as the fastest VDF servers will always be ranked first, and it only takes one fast and fair Timelord on the network to complete a block and move the chain forward. Voice | Governor of Yunnan Province: Accelerate the promotion and application of blockchain technology in building a world-class "green food brand": Jinse Finance reported that on November 18, Ruan Chengfa, deputy secretary of the Yunnan Provincial Party Committee and governor of Yunnan Province, presided over the convening of the province to build a world At the 14th meeting of the first-class "Green Food Brand" Work Leading Group, it was emphasized that it is necessary to speed up the construction of the Pu'er tea quality blockchain traceability platform, steadily promote the demonstration of "one county, one industry", and strive to seize the commanding heights of the development of the green food industry. Ruan Chengfa requested that we should focus on solving the anti-counterfeiting problem of Puer tea, focus on the key points of consumer concern, highlight the key links of origin traceability, speed up the construction of a Puer tea quality blockchain traceability platform, and carry out pilot projects for the application of quality traceability scenarios, so that consumers can buy with confidence , Drink comfortably. It is necessary to strengthen cooperation with high-level blockchain technology companies, build a traceability platform with high standards and a high starting point, and equip Pu'er tea with an identity mark to ensure that the data on the chain is stored credibly, authentically and reliably, and cannot be forged. It is necessary to focus on key points such as ancient tree tea and famous tea from famous mountains, carry out blockchain quality traceability experiments and demonstrations, replace industries with application experiments, and replace industries with market opening, and accelerate the application of blockchain technology in building a world-class "green food brand". Promote apps. [2019/11/21] 3. Team and investor analysis Chia Network was founded by BitTorrent creator Bram Cohen. It includes Gene Hoffman, former founder and CEO of eMusic.com and Vindicia, and Mitch Edwards, former acting CEO of Overstock.com. The Chia blockchain has an active-zce community of open source developers with many contributions to the code base. contribute. Many people contribute to the Chia blockchain in areas including research, peer review, development, testing, documentation, and translation. (Official website introduction) News | Qatar University new research: Bitcoin transactions pose environmental threats to encourage investment in "green" blockchain technology: According to digitaljournal, new research by Jon Truby, deputy director of the Center for Law and Development at the Faculty of Law, Qatar University, found that energy-intensive Small bitcoin transactions pose a growing environmental threat. The study called for more investment in "green" blockchain technology. Unless countries seek to reduce the energy consumption of bitcoin and similar blockchain designs, this could prevent governments from meeting their climate change mitigation obligations under the Paris Agreement, the study said. It is estimated that a single bitcoin transaction involves the equivalent of powering UK households for a month. Based on adverse environmental impacts, the study develops tax and regulatory options that could be used to incentivize the development of "green" blockchain technology as an alternative to the way most blockchain solutions are structured. [2018/9/1] At the technical level, Cohen, the founder of BT Download, is in charge. Needless to say his strength, Gene Hoffman and Mitch Edwards, who have rich experience in the blockchain, are operating, plus BT's popularity and usage in the open source field It is bound to be of great help to the promotion of Chialisp (Chia smart contract development language). In this way, the integrity of the team is still very high. Let’s take a look at its investors 1. AngelList was established in 2010 as a matchmaking platform for start-up companies, angel investors and job seekers who intend to seek positions in start-up companies. At the beginning, the platform provided online matchmaking for start-up technology companies that needed seed capital. Since 15 years, the website has allowed start-up companies to raise funds from angel investors, and allows investors to invite other accredited investors to invest together. Naval Ravikant is a partner and CEO of AngelList; a former partner of Epinions and vast.con, an angel investor, and has invested in dozens of companies, including Twitter, Uber, Yammer, Stack Overflow, and Wanelo. Selected as the 10th TechCrunch's angel investor in February 2017; Invested in 183 projects and 64 exited. In 2001, Naval entered the venture capital industry. He first stayed at August Capital for a short period of time, and then set up a small fund by himself, specializing in angel investment. 2. Andreessen Horowitz (a16z) is an American private venture capital firm founded in 2009 by Mark Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California, USA. Both Andreessen and Horowitz were active-zce investors in technology companies from 2006 to 2010. Plus, they co-invested $80 million in 45 startups, including Twitter. During that time, the two became super angel investors. In May 2011, Andreessen Horowitz was named the #1 venture capital firm by Investor Rank, based on the firm's network and level of synergy with other venture capital firms. Andreessen was No. 10 on Forbes' Midas list of tech hot investors in 2011, while he and Horowitz were No. 6 on Vanity Fair's 2011 Startups list and No. 6 on CNET's 2011 Most Influential Investors 7-bit list. 3. Founded in 1965, Greylock Partners is one of the oldest venture capital firms and one of the top venture capital firms in Silicon Valley, with over $3.5 billion in assets under management. The company focuses on consumer, enterprise software and infrastructure, and early-stage semiconductors. He has invested in a series of famous companies such as Facebook, LinkedIn, Instagram, Pandora, Dropbox, and Airbnb in the early stage. The above three are all top investment institutions in the world. It can be said that the endorsement is still very strong. At the same time, it should be noted that many people pass on Capital invested in Chia, and the author did not find any relevant information on Danhua Capital or Chia's official website, so there is no need to over-promote it. 4. Decentralization analysis: Unlike other projects, Chia did not carry out ICO, nor did it conduct private placements on Coinlist. Except for the strategic reserve of 21 million, it needs to be obtained from hard disk mining. Some PZs in China claim that they can To get the amount of Chia tokens, please be careful to prevent property loss. The project founder also explained on Twitter. Chia’s use of hard disks for mining has indeed lowered the mining threshold, and at the same time there is no pledge, unlike FIL, which requires pledge tokens. It can be said that its openness is comparable to that of early Bitcoin. Perhaps this is the original intention of Cohen when he created BT. Everyone can participate , Chia also has the blood of decentralization. 5. How to get CHIA tokens? At present, the average amount of coins produced per T of computing power is about 0.032, and the computing power of the entire network is also growing rapidly. At present, ordinary computer mining is very difficult, and professional mining machines have appeared. The most important thing is the ability of the mining machine P disk (PLOT drawing). The final PLOT file size is your computing power value. The computing power packaging process has a higher configuration for solid-state drives. , the current 2T type with M.2 interface works well.

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