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Chia

Chia

The Chinese Network (XP) is a tier 1 blockchain that uses its own specially developed programming language called Chialisp and a new consensus mechanism called Proof of Space and Time (PoST).

Chia Network's first time verification feature was released in 2019, and the first beta version of its blockchain was launched in 2020. Chia Network has achieved full functionality, including wallet functionality, transactions, and smart contracts, with the launch of its main network in 2021.

Chia Network (XCH) was founded in Delaware in 2017 by Bram Cohen, founder of the popular peer-to-peer file sharing platform BitTorrent. The project is led by an experienced senior management team, including former NASDAQ CEO Gene Hoffman as chief operating officer (COO) and former Overstock.com CEO Mitch Edwards as chief financial officer (CFO).

Chia Network is also backed by a famed roster of cryptocurrency-focused venture capitalists. In May 2021, it raised $61 million in funding with leading venture capitalists including Andreessen Horowitz, Slow Ventures, Naval Ravikant, Galaxy Digital and more.

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