HOT US CNN reported that Chia is the solution to advance Bitcoin!

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The currency circle triggered an earthquake, and Bitcoin and Dogecoin plummeted. Chia coin rose against the trend and will usher in the first mining period. Time makes heroes. At this critical point, chia is like flying in a plane, just waiting to take off. Friends who want to get in the car hurry up, don't give up this wave of opportunities!

Chia is a solution beyond Bitcoin‍

major!XCH is about to take off?US CNN reported that Chia is the solution to advance Bitcoin!

CNN published a paper on May 6, 2021, praising Chia as a solution to advance Bitcoin. Author Alexis Benveniste wrote that Bitcoin may be the king of cryptocurrency, but due to the high energy consumption technology behind it, it faces strong opposition from environmentalists. The new cryptocurrency, called chia, says it is a more environmentally friendly alternative to Bitcoin.

Like most digital currencies, chia runs on a decentralized ledger system called blockchain. But unlike Bitcoin, chia, founded by the inventor of BitTorrent, claims that its carbon footprint is much smaller through the mining process of verifying and recording transactions. Chia recorded its first transaction this week, joining a crowded crypto space at a time when investors became enthusiastic about alternative digital assets.


Chia will be more energy efficient

major!XCH is about to take off?US CNN reported that Chia is the solution to advance Bitcoin!

The Chia "income farming" process is a more environmentally friendly alternative to mining, but it still requires electricity.

Ethereum architect Caesar Chad said that when it comes to encryption, "environmentally friendly" is a "relative term". Computers need power to run, and natural resources are used to make hard drives. "Just like electric cars and windmills, they still need too many resources to be truly environmentally friendly."


"Drawing" is the process of creating files, which are later collected as part of the farming process. This process still uses computer hard disk space and CPU power, but it requires less energy than other mining processes that prove processes. many. Working cryptocurrency.

The principle of Qia blockchain operation


Each cryptocurrency has its own method of verifying transactions, which is usually obtained by using the collective computing power of the miner's computer. In the process of maintaining the computing power of the network, the miners are rewarded by the network. This reward process is mining. Chia mining process network, depend on a large number of computer hard disk storage space, Chia will get benefits in this way by hard disk space, as is farming income.


According to Coin Market Cap, Chia's "Proof of Space and Time" process enables network participants to prove that they have physically stored data for a set period of time.

For example, this is different from the mining process of cryptocurrencies like Ethereum. In the current iteration, Ethereum uses proof of work, which requires a lot of computer power to collect and mine decentralized coins. However, the proposed Ethereum 2.0 will use a proof-of-stake model, which is said to be more energy efficient.

Unlike fiat currencies controlled by central banks, part of the appeal of cryptocurrencies is that people can send or receive money without the intervention of traditional banks or government agencies. All transactions are verified and recorded by a large computer network using a database called blockchain. Usually, this process requires a lot of electricity to power these computers-some estimates suggest that the CO2 output of Bitcoin mining is comparable to that of New Zealand.

Cohen told CNN Business that he hopes Chia will soon be listed on cryptocurrency exchanges, including the cryptocurrency exchange Coinbase, which went public in April.
 
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