What Is Chia Coin?

• Chia (XCH)

• Market cap: $274.948.415

• Number float: 2.075.802

In 2017 Bram Cohen invented Chia. It is a new blockchain technology that is a cryptocurrency and the foundation for a smart transaction platform at the same time. It is the first new Nakamoto consensus algorithm since Bitcoin.

A special feature of this blockchain is the concept of “Proof-of-Space-and-Time”, that represents and replaces the energy intensive “Proof of Work”.
That means you have to prove the fitting hash rate, but no new hash will be calculated.
The result is that Chia miners need less computing power but a bigger storage capacity in comparison to other blockchain concepts.

Chia’s new programming language is Chialisp, which is known for being easy to use, powerful and secure.