What is mining and farming?
What is the difference between mining and farming?
Mining requires expensive single use hardware that consumes exorbitant amounts of electricity. Chia Network is mitigating this problem through a fair, eco-friendly, and better blockchain that uses farming to leverage existing empty hard disk space distributed on nodes around the globe. Farming remains decentralized because anyone that has installed the Chia software and has plots can win the next block. Mining requires expensive custom single use hardware and access to electricity at wholesale or better prices which only purpose built corporations can afford to mine. Farming is more decentralized because it relies on empty hard disk space and anyone with a mobile phone, laptop, or corporate network tends to have extra space not currently being used. Unlike mining, once you’re done farming your storage you can repurpose it to, for example, store your family photos.
Why do I want to farm Chia?
You can farm Chia on the unused storage of your laptop, desktop, or corporate network and, in return, you have the chance to receive rewards in chia for helping secure the blockchain. The Chia software allows you to allocate a certain amount of unused disk space to create plots. Since the only resource intensive step is the initial plotting, once you download the Chia node software, your drives will be plotted in the background. Once plotting is complete, your computer will begin farming on your behalf and the software does all the work and tracks your rewards for you. Ongoing farming uses very little network bandwidth and almost no resources other than storage.
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.