Market Rank | #300 |
---|---|
Market Cap | $ 161.3M |
Volume 24h | $ 4.5M |
Circ. Supply | 14.5M |
Total Supply | 32.9M |
Max Supply | ? |
The current price of Chia (XCH) is $ 11.11. Please note that cryptocurrency prices tend to be highly volatile and may have changed.
Chia is a unique cryptocurrency that differs from many others on the market. It operates on a proof-of-space model, which involves users showing they have a certain amount of disk space available. This is in contrast to proof-of-work models like Bitcoin, which require users to perform computational tasks. Thus, mining Chia consumes significantly less energy.
Chia was created by Bram Cohen, the inventor of the BitTorrent network. Cohen's motivation was to produce a less energy-intensive alternative to Bitcoin. Chia uses unused disk space for its proof-of-space consensus algorithm, making it more environmentally friendly than many other cryptocurrencies.
Chia is unique in its use of the proof-of-space consensus algorithm. Unlike Bitcoin's proof-of-work system, which requires energy-intensive calculations, Chia instead uses existing, unused disk space on users' computers. This makes mining Chia less energy demanding, mitigating some of the environmental concerns associated with Bitcoin and similar cryptocurrencies.
Similar to mining in other cryptocurrencies, Chia farming is the process in which new XCH coins are produced. Farmers earn XCH by maintaining the robustness of the Chia blockchain. The more space they contribute, the higher their chances of being rewarded with XCH. This proof-of-space method helps to ensure decentralization and security within the Chia network.
There are currently 14.5M Chia (XCH) in circulation.
In the past 24 hours, the price of Chia (XCH) has increased by +0.95%.
Chia (XCH) can be purchased safely on a number of different exchanges. Some of the most popular include TradeOgre, CoinEx, Bibox, KuCoin, Huobi.
Security of your Chia (XCH) is paramount. As with any cryptocurrency, it’s crucial to store it in a secure wallet. There are several wallet options available, including hardware wallets and software-based wallets. Ensure that any wallet you use is from a reputable source, and always protect your private keys.
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