Chia

Eco-friendly bitcoin competitor

2 followers

Eco-friendly bitcoin competitor

2 followers

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Chia is an eco-friendly cryptocurrency that will harness cheap and abundant unused storage space on hard drives to verify transactions on the blockchain.

Launch tags:Web3

Launch Team

Render Sandboxes: a computer for every agentRun untrusted code safely. Idle sandboxes cost nothing

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Ramp

Bitcoin has long come under attack for the vast amount of electricity it wastes. Bram Cohen's new currency uses unused hard-drive space (instead of energy-intensive hashes) to verify transactions. 👏👏👏 Excited to see how this plays out. Looks like their token sale is coming next year.

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9yr ago

Hustle Crew Academy

@nickabouzeid Cool, I'm excited about this 🌱

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9yr ago

Greenwashing crypto currency will only last as long as it isn’t popular. If it’s popular, people will just mine more of it, making it no longer green. It’s like if you make the roads wider, more people drive to work and traffic gets worse. Any short term savings on energy will be negated over time.

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9yr ago

@lwansbrough The cost of storage decreases over time while the cost of any form of electricity increases. So I'm not sure if short term savings will be negated over time.

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9yr ago

@shivekkhurana If mining becomes cheaper because of energy cost savings, miners will mine more to offset those savings and maximize their returns. Assume miners will always maximize their power consumption. Assuming miners can minimize power consumption in a proof of work system is naive, only proof of stake can solve this problem.

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9yr ago

Would be interesting to see how they improve on the concept and if they become more successful than others such as Burstcoin, Siacoin or even Storj

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9yr ago

@cprins_ Sia is for decentralized data storage, to ultimately compete with Amazon S3. Hard drive space is used to store encrypted chunks of peoples' files. Sia uses proof-of-work mining as the consensus mechanism, just like Bitcoin. Chia is an alternative to proof-of-work mining, instead using proof-of-space-time. Hard drive space isn't used to store peoples' files – it's instead used to store consensus data. So hard drive space used on Chia cannot be used for anything but storing that data. While hard drive space used on Sia actually stores peoples' files, but still relies on proof-of-work mining. It will be interesting to see what will be more profitable in the long-term – use your extra drive space by being a host on Sia and store files, or use it to store consensus info to "mine" on Chia? If Sia is more profitable, it's likely no one would ever use Chia.

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9yr ago

@zachherbert Yeah, so far I definitely see more value (for end users) in Sia and/or Storj

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9yr ago

Purity Drinking Game

It's a cool idea, but I'd like to know why they're going with a tokensale model instead of a premine for their devs. I don't have anything against the tokensale, just curious.

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9yr ago

Energy models themselves are changing. The baseline for the entire criticism anathema is destined to irrelevance. There will be enough power to end the debate before the model consolidates. Just like that.

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9yr ago

Chia is a blockchain that is really moving the needle and is something you should be looking at with some serious 👀. This chain has it all, and is eco friendly.

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5yr ago

You should add @bramcohen as Maker.

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9yr ago

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