Golden Observation丨Is it too late to get in the car Chia?

If you missed DeFi in 2019 and NFT in 2020, then perhaps you should not miss Chia in 2021. This "king of heaven" encryption project has introduced a new concept of hard disk mining. Now looking at the global hard disk market, many people will find that the price of hard disks has suddenly started to soar in recent weeks, and it has doubled to three times in just a few weeks. So, let us find out how awesome the Chia encryption project is.

Chia Features

Chia was created by Bram Cohen, the world's best network protocol engineer and the inventor of BitTorrent. Through the powerful, easy-to-audit and secure new intelligent transaction programming language Chialisp, Chia perfectly supports a variety of intelligent transactions, including: atomic exchange, Authorized payees, recoverable wallets, multisig wallets, and limit wallets.

The golden community officially participated in the Elder election of the Asproex Apollo community: Recently, the golden community officially participated in the elder election of the Asproex Apollo community. According to the application, the golden community will aggregate its own resource advantages to provide strong support for the expansion of Asproex Apollo's digital business and help the development of the Asproex Apollo platform.

It is reported that the golden community is a community alliance based on blockchain services. It takes the project to combine and spread the blockchain token economy as its own responsibility, and is committed to creating a good community atmosphere for practitioners and enthusiasts in the blockchain industry and building blockchain Benign ecosystem.

Asproex Apollo, as the world's first offshore bank holding licensed trading platform, is also a trading platform covering the listing of CTO corporate tokens. It holds licenses from 5 countries, providing financing solutions for small, medium and micro enterprises around the world, and helping digital listing. [2020/7/29]

Chia is different from Bitcoin, which uses workload proof. It uses time and space proof consensus algorithm. Anyone can use the remaining hard disk space to verify transactions without consuming a lot of electricity to maintain the network. It can be said that Chia uses a fair, environmentally friendly and better blockchain to make full use of the existing empty hard disk space distributed on global nodes. Mining on Chia is more decentralized as it relies on free hard drive space. Anyone with a mobile phone, laptop, or corporate network currently has a lot of extra storage that isn't being used, and once you're done mining, you can repurpose that storage with no additional hit to disk space. From then on, people no longer need to buy expensive mining machines (basically disposable hardware devices) like mining Bitcoin.

Golden Quick Review | Citigroup Launches DAR: Reducing the Risk of Wall Street Big Buyers Investing in Cryptocurrencies: Citibank has developed a tool called Digital Asset Receipt (DAR). It works very similar to American Depository Receipts (ADR). The launch of this tool means that Citibank has come up with what may be the most direct way to invest in cryptocurrencies without actually owning them. DAR is equivalent to the American Depository Receipt (American Depository Receipt), the meaning of which is that foreign stocks are held by a bank, and then the bank issues the depositary receipt, so that American investors can invest in those stocks that are not traded on American exchanges. foreign stocks. Under the system of DAR tools, cryptocurrencies are held by custodians and DAR is issued by Citigroup, which will place cryptocurrencies under the existing regulatory system and allow large Wall Street investors such as asset management companies and hedge funds to trade in a single way. A less risky way to invest in the cryptocurrency market. [2018/9/10]

How awesome is the Chia encryption project?

Analysis | Golden disk: BTC/USD is facing pressure on the upper track of the channel: Comprehensive analysis of the golden disk: BTC/USD 2-hour K-line chart, DIF goes flat, MA12 forms support, bulls challenge the channel upper rail again, at present, there will be a more intense time here The short sellers suppress the bulls' offensive by relying on the 6600 high point, and the bulls must win this pressure as soon as possible, otherwise they will be unstable in the future. [2018/8/12]

When Bitcoin, the "grandfather" of cryptocurrency, was developed, the market did not foresee that the computing power of dedicated mining hardware equipment would greatly exceed the performance of ordinary computers. As a result, the decentralized network that was originally hoped to be formed was controlled by a small number of miners. Use chip fabs and wholesale power purchases. And the miners who currently control the Bitcoin network believe they still have a competitive advantage and are still categorically opposed to changing the protocol when it is clear that it should be changed.

Analysis | Golden disk: WRC/BTC fell by more than 40%: Golden disk analysts said: BTC’s rebound this round has not changed the fate of the overall weak market. WRC is an example. Today there is another 40% drop, and the price is in the decimal point Numbers greater than 0 can only be seen in countless positions behind, which is really ill-fated. [2018/8/5]

Yet Chia has spent a decade researching new digital currency ecosystems that make cryptocurrencies safer, more decentralized, and easier to use. If nothing else, Chia will become the first enterprise-level digital currency.

Perhaps because of Bram Cohen's industry reputation, compliant listing path, and the project's own hard power, Chia quickly gained a lot of attention in a short period of time, and at the same time received investment from top Wall Street institutions such as Danhua Capital and a16z. Since then, more and more people have explored Chia mining, and the demand for hard disk space has also increased. Not only that, after the project party announced the launch of the transaction on May 4, the popularity of Chia mining was once again pushed to a climax, resulting in the threshold for participating in Chia mining becoming higher and higher. Mining machines with 1P computing power on the market The price once reached a sky-high price of 400,000 yuan, which turned off many retail investors from Chia mining. We can know from the laws of the market that when the demand exceeds the demand, the price will definitely rise.

Cloud computing power mining to deal with market pain points

In the face of high Chia mining costs, how should ordinary crypto users participate? When cryptocurrency exchanges saw the pain points in the market, they quickly provided cloud computing power mining solutions.

In fact, some cryptocurrency exchanges with many years of operating experience in the cloud computing power industry launched Bitcoin cloud computing power mining projects as early as two years ago. These projects can not only help users to screen high-quality cooperative mining farms, design friendly and attractive products, formulate professional and transparent industry standards, but also establish disaster recovery plans to deal with various risks and provide high-quality services throughout the entire investment process . On the basis of these core market competitiveness, cloud mining products quickly attracted the attention of many users in the encryption community.

Recently, some exchanges have launched cloud computing power Chia products. The characteristics of such products are generally long service period, more mining and more earning, and lightning delivery. Not only that, after seeing the usage feedback, these exchanges optimized the supply chain in a short period of time to allow more users to mine Chia earlier and more, so that purchasing users can share the real Chia mining dividends.

At this stage, most exchanges in the market generally provide servers for one year or 540 days, but there are also individual exchanges whose computing service period is as long as three years. In order to mine with confidence, most users will choose exchanges with a longer service period, and this type of exchange has gained a good reputation in the community and even the industry.

As Chia continues to be listed on mainstream exchanges, the market is becoming more and more enthusiastic about Chia. According to the latest data, as of May 12, the price of Chia (XCH) on the entire network has reached 1024.79 US dollars, an increase of 52.9% in 7 days, and the total computing power of the entire network exceeds 3500P.

Thanks to the security and transparency that have been recognized by many users, cloud computing power mining is already a relatively mature product in the cryptocurrency industry. Some cryptocurrency exchanges have effectively applied cloud computing power mining to Chia, which has better alleviated the pain points of the market. In addition, from the perspective of the token price trend and the future development of the hard disk market, the potential of CHIA (XCH) cannot be underestimated.

Part of this article comes from Yahoo Finance

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