What is Chia?


Chia is a new blockchain and smart transaction platform. Founded by Bram Cohen, the inventor of the BitTorrent network, Chia Network is building a better blockchain and smart transaction platform which is more decentralized, more efficient, and more secure. Chialisp is Chia’s new smart transaction programming language that is powerful, easy to audit, and secure. The blockchain is powered by the first new Nakamoto style consensus algorithm since Bitcoin launched in 2008. Proofs of Space and Time replace energy intensive “proofs of work” by utilizing unused disk space. The network also introduces a new native cryptocurrency token, XCH, that serves to reward network participants that help secure the chain.

Unlike the very energy-intensive Bitcoin miners that currently use over 129 terawatt hours annually to keep the blockchain secure, Chia wanted to be the “green” blockchain by not requiring miners to have specialized hardware and enabling all Chia users to help protect the network by farming. On the Chia blockchain you can participate on the network by farming plots.

What are plots?

Users of the Chia blockchain will “seed” unused space on their hard-disk drive by installing software which stores a collection of cryptographic numbers on the disk into “plots.” These users are called “farmers.” When the blockchain broadcasts a challenge for the next block, farmers can scan their plots to see if they have the hash that is closest to the challenge. A farmer’s probability of winning a block is the percentage of the total space that a farmer has compared to the entire network.

Farming can be done on any PC or laptop. But creating plots takes a long time and require an optimal mix of available CPU Cores, Memory and Disks. Instead of investing in expensive equipment that you might not need once your plotting has been completed, we created chia.migodi.com. Just tell us how many plots you want and we will send you a download link as soon as they are generated. MIGODI Plotting is secure since we only need your public keys.

You can use the Chia Calculator to estimate how much you can earn from farming the Chia cryptocurrency (XCH) on the Chia Network.

If you have any questions about Chia or the MIGODI Chia plotting service feel free to get in touch with us!

CHIA NETWORK INC, CHIA™, the CHIA BLOCKCHAIN™, the CHIA PROTOCOL™, CHIALISP™ and the “leaf Logo” (including the leaf logo alone when it refers to or indicates Chia), are trademarks or registered trademarks of Chia Network, Inc., a Delaware corporation.

Leave a comment

Please note, comments must be approved before they are published