Chia Network Blockchalter from the Creator Bittorrent Bram Cohen (Bram Cohen), has noticeably increased in price after attracted $ 61 million from investors, among which Richmond Global Ventures and Andreessen Horowitz. At the moment, the startup from San Francisco is estimated at about $ 500 million.
Chia declares that wants to make the use of cryptocurrency easier than the use of cash. The company believes that new investments will accelerate the implementation of its bold plans to become a trading and payment system used by banks, governments and other institutions. Chia Network plans to enter the stock exchange already this year as an independent company, but does not exclude mergers with correctly understanding its value by the company. The President of CHIA believes that the exchange will allow the company to demonstrate their reliability and designate the regulatory environment.
Experts highly appreciate CHIA’s developments, arguing that the cryptocurrency looks like Bitcoin look like, if it were developed, taking into account the knowledge of the last 13 years and succumbed to the audit. Unlike Bitcoin and most cryptocurrency using the Proof of Work Model (Proof of Work), CHIA cryptocurrency uses the Space and Time Proof model (Proof of Space and Time). Therefore, for its production you need large data storage.
Cryptovaya CHIA, despite its short stay on the market, already occupies on a global scale more than 10 exbaytes (10 million terabytes) on custom drives. This is 4 exbaytes more than a week ago, and five times more than in early May, at the time of the bidding of this cryptocurrent. Such a rise shows the rapid growth of the popularity of CHIA and that people trust cryptocurrency. It is worth noting that for the production of CHIA, both hard drives and productive solid storage devices are used.