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Founded in August 2017, Chia aims to develop an improved blockchain and smart transaction platform, allowing the general public to participate in the storage mining process. The founder of Chia is Bram Cohen Bram Cohen, yes, he is the inventor of BitTorrent, who is called the father of BT. Because of the invention of BT technology, Cohen and "World Wide Web" Tim Berner Si-Lee, Google founder Sergey Brin and Page and others are listed among the "Top Ten Most Influential Internet Figures". The reason why Chia is so popular and has become a star-level cryptocurrency in one fell swoop is not only the founder has an excellent resume, but also the lineup of the investment team behind it cannot be underestimated. A total of eight institutions have invested in Chia, two of which are relatively well-known investment institutions, one is Greylock partners with a very long history in the United States. A16Z has invested in well-known companies such as Airbnb, Facebook, Pandora, and Instagram. With such a strong background support, it is no wonder that everyone agrees that Chia will have a good market value in the future.
Chia claims to issue a green paper rather than a traditional white paper. In terms of publicity, we can also see that it focuses on the concept of green environmental protection. The essence of Chia is a storage project. It is 21 million against Bitcoin, and a block is produced in ten minutes. The Chia network that the founders hope to build will improve the global financial and payment system. He once said that Bitcoin mining consumes too much carbon emission resources, so he wants to create a green distributed storage network, so that everyone's idle hard disk space can be stored and mined using a distributed and decentralized storage network. mine. He proposed a concept called "Space Proof Mechanism", that is to say, storage must have enough space, and only continuous and effective storage can obtain tokens. Although this mechanism is also available on filecoin, Chia has more space than filecoin. Prove to be "friendly". As long as it can be proved that the storage is valid, once the storage is invalid, the issuance of tokens will stop. The white paper also mentioned that more powerful functions will be involved in the future. For example, the Chia network will help the swift system to develop cross-border financial trade, and Chia currency may become an intermediary currency for cross-border financial settlements in the network. This is a very grand vision. Whether it can be realized in the future, we can wait and see.
In fact, Chia's original intention was to hope that everyone would use idle hard disks to mine to lower the threshold for storage mining. However, it is hard to find one in the market now. The basic prices of both mechanical hard disks and solid-state hard disks have at least tripled. This has led to the development of mining more and more in the direction of centralization, and a vicious competition method of bargaining has appeared in the market. So is now a good time to enter? It is undeniable that part of the popularity of Chia comes from the popularity of ipfs, which has seen a sharp rise in currency prices, and the current mining costs are relatively high. Investors need to look at it with a rational attitude, and hope that everyone can move forward cautiously.
