Chia in News

BitTorrent inventor holds the key to greener, less centralised cryptocurrency mining

Bram Cohen, the inventor of BitTorrent, is finalising his thesis for a greener alternative to Bitcoin's proof of work mining algorithm. Engineering work will soon begin on his new project, Chia Network, which uses vacant disk space on hard drives to run his resurrected version of proof of space (PoSpace), co-ordinated with another consensus algorithm, proof of time (PoT).

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Bitcoin Veteran, BitTorrent Creator, Makes An Eco-Friendly Cryptocurrency

Some of the bitcoin community’s most experienced developers are creating a more eco-friendly type of cryptocurrency. There’s no word yet if the new San Francisco-based startup, Chia Network, will launch the chia token in 2018 with an initial coin offering.

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BitTorrent Inventor Announces Eco-Friendly Bitcoin Competitor Chia

A bitcoin transaction wastes as much electricity as it takes to power an American home for a week, and legendary coder Bram Cohen wants to fix that. And considering he invented the ubiquitous peer-to-peer file transfer protocol BitTorrent, you should take him seriously.

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What Is Chia? — BitTorrent Inventor Announces His “Green” Bitcoin Competitor

While cryptocurrencies like Bitcoin might be all the rage today, they’re criticised for their heavy consumption of energy. The more energy you use with the help of a powerful hardware, the more cryptocurrency you can mine. Recently, a new hard fork named Bitcoin Gold was facilitated to address similar issues.

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BitTorrent Creator’s Chia Could ‘Fix’ Bitcoin With Own Altcoin By Late 2018

BitTorrent creator Bram Cohen has debuted his “solution” to Bitcoin which he says resolves “centralization problems” with the virtual currency.

Speaking to TechCrunch Wednesday, Cohen explained his Chia Network would offer more reliable, eco-friendly mining and security measures.

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Chia Network – BitTorrent Bram Cohen’s Green Cryptocurrency?

BitTorrent inventor and legendary coder Bram Cohen has launched a new company called Chia Network. That network aims to create a cryptocurrency to compete with bitcoin.

One of the biggest criticisms about bitcoin is its energy consumption: a single block of bitcoin transactions requires as much energy as it takes to power an American home for a week. However, this energy expenditure also helps keep the network secure and active.

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A Greener Cryptocurrency From Bittorrent Inventor, Bram Cohen

The inventor of Bittorrent has now turned his attention to blockchain technology and building a greener Bitcoin called Chia. Bram Cohen released Bittorrent to the world in 2004, but, in early 2017, he stepped away from the company he built to focus on blockchain technology.

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Cryptocurrency “Farming” Could Make Blockchain More Eco-Friendly

Bitcoin has been creating a lot of buzz lately as more and more people invest in the cryptocurrency. But, behind all this success is a blockchain that’s sustained by miners who, as it turns out, actually use massive amounts of electricity for each transaction. Bitcoin are mined using the computing power of hundreds of CPUs all over the world, with each one eating up electricity to continuously verify transactions within the Bitcoin blockchain.

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