The live price of Chia (XCH) today is 32.2445 USD, and with the current circulating supply of Chia at 9,952,608 XCH, its market capitalization stands at 320,917,081 USD. In the last 24 hours XCH price has moved -1.2638 USD or -0.04% while 19,052,933 USD worth of XCH has been traded on various exchanges. The current valuation of XCH puts it at #186 in cryptocurrency rankings based on market capitalization.
Learn more about the Chia blockchain network and how it works or follow the price of its native cryptocurrency XCH and the broader market with our unique COIN360 cryptocurrency heatmap.
Chia (XCH) is a novel cryptocurrency that aims to provide a more eco-friendly alternative to the energy-intensive proof-of-work (PoW) consensus mechanism used by Bitcoin and many other cryptocurrencies. Developed by Bram Cohen, the inventor of BitTorrent, Chia leverages a unique "proof of space and time" consensus mechanism, which is designed to make mining more accessible and less harmful to the environment.
Chia's consensus mechanism, known as "proof of space and time" (PoST), is a unique approach to securing the blockchain. Unlike PoW, which requires miners to perform complex calculations, PoST allows miners to "farm" rather than "mine" by allocating unused disk space to the network.
Chia operates on its own proprietary blockchain, which is designed to be more efficient and scalable than traditional blockchains. It also introduces the concept of "plotting" and "farming" as alternatives to the traditional mining process.
Chia's blockchain is designed to be highly scalable, capable of handling a high volume of transactions without compromising speed or security.
Chia's unique consensus mechanism and blockchain technology provide robust security against common threats such as double-spending and 51% attacks.
While Chia's blockchain is transparent and auditable, it also provides privacy features to protect users' identities and transaction details.
Chia promotes decentralization by making it easy and affordable for anyone with unused disk space to participate in the network.
The Chia project is led by Bram Cohen and a team of experienced developers and entrepreneurs. The project operates under a corporate structure, with Chia Network Inc. overseeing its development and governance.
Chia aims to disrupt the cryptocurrency market by providing a more sustainable and user-friendly alternative to traditional cryptocurrencies. Its potential use cases include peer-to-peer transactions, smart contracts, and decentralized applications (dApps).
Chia can be purchased on several cryptocurrency exchanges, including OKEx and Huobi. Users can buy Chia with fiat currencies, other cryptocurrencies, or by farming.
Chia can be stored in the official Chia wallet, which is available for download on the Chia Network's website. Other compatible wallets include hardware wallets and multi-currency wallets.
Chia has formed partnerships with various organizations and businesses to promote its adoption and use. These include collaborations with data storage companies and green energy initiatives.
Chia's future plans include further development of its blockchain technology, expansion of its ecosystem, and promotion of its use in various industries.
Chia faces several challenges, including competition from other cryptocurrencies, regulatory uncertainties, and potential issues related to its unique consensus mechanism and farming process.
Chia has a growing community of supporters, including farmers, developers, and enthusiasts. The community is active in various online platforms, including Reddit, Discord, and GitHub.
Chia Network Inc. is committed to complying with all relevant regulations and has taken steps to ensure that its operations are transparent and legal.
In conclusion, Chia is a promising cryptocurrency that offers a unique and sustainable approach to blockchain technology. Its innovative consensus mechanism, robust security features, and commitment to decentralization make it a potential game-changer in the cryptocurrency market.
|Yesterday's Market Cap
|Yesterday's Open / Close
|34.9321 USD / 33.6683 USD
|Yesterday's High / Low
|35.0046 USD / 33.1323 USD
-0.04% ( 1.2638 USD )