Depend onBram Cohen Depend onThe created Chia Network has recently triggered a "farming" boom at home and abroad, as a well-known, Bram wants to create a better version of Bitcoin this time, which is more efficient and more environmentally friendly. The members of the Chia team want to highlight its environmental characteristics so much that they change the "miningmining’ concept, which in turn was called in the Chia project “farming". As stated in Chia's official white paper: "”

Chia is the green currency of the digital world.In order to be more environmentally friendly than Bitcoin, Chia adopts a new Nakamoto consensus, which is calledProof of Space and Proof of Time (PoST, Proof of Space and Proof of Time), unlike Proof of Work (PoW), which is widely used in Bitcoin and most other cryptocurrencies, PoST does not consume huge amounts of electrical energy and single-purpose hardware. In fact, according to the data given on Chia's official website,

Chia consumes only about 0.1% - 0.3% of the energy consumed by traditional proof-of-work cryptocurrencies.As we all know, the huge energy consumption of Bitcoin has become a global problem that needs to be solved urgently, especially with the upsurge of cryptocurrency led by Bitcoin in recent years, more and more people have participated in the field of cryptocurrency mining. According to CCAF data,Bitcoin currently consumes 110 Terawatt Hours per year, which is equivalent to 0.55% of global electricity production, or the electricity consumption of small countries like Malaysia or Sweden.

When the energy consumption of just one cryptocurrency has reached the national level, it will naturally attract widespread attention and become a problem that needs to be solved. For Bram, the solution he came up with was Chia.The core of Bitcoin’s energy consumption lies in its built-in proof-of-work mechanism, which requires miners to use computer CPUs for mining. This so-called “computing power” for mining is the source of Bitcoin’s energy consumption ., by installing software to generate and store encrypted data in the free space of these hard disks (i.e. p disk), when a new block is broadcast to the blockchain of the Chia network, users can scan their p disk to Check to see if you have won the block. Because of its energy-saving and efficient nature, users who maintain the Chia blockchain network are called "farmers" instead of "farmers" like other blockchain networks.miner”。

minerThe latest IDC's Global StorageSphere data shows that the premise that Chia Networks assumes that the current global HDD hard disk capacity is not being effectively utilized is indeed true.Chia's global total network space (netspace) has exceeded 25EiB since the mainnet was launched, and it continues to grow every day, which means that the Chia network can not only solve the energy consumption problem of Bitcoin, but also effectively utilize the global idle hard disk resources. In addition to individual farmers, there are also some companies around the world that have deployed Chia farming.LBank Cloud

It is one of the earliest companies to deploy Chia.ChialispThrough Chia's official smart coin programming language, the Chia network can be widely used in、Financial Control、settlement of paymentAsset issuance management