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Chia Network (blockchain)

Chia Network (blockchain)

Chia Network is a decentralized peer-to-peer blockchain protocol relying on proof of space and proof of time concepts for achieving consensus.

Chia Network is a decentralized peer-to-peer blockchain protocol relying on proof of space time concepts for achieving consensus. The Chia Network protocol is being developed by a team led by Bram Cohen, the creator of BitTorrent. Chia network utilizes a blockchain in which the network is secured by individuals called farmers (as opposed to the "Miner" terminology commonly used among other cryptocurrencies) who generate Chia Network monetary rewards through allocation of memory of disk space.

In order to help secure the network, including protection against attackers trying to replay the entire history of the blockchain, Chia Network also utilizes proofs of time. These proofs are intended to ensure that a certain amount of time has passed between the addition of each block in the blockchain, making it difficult to create a longer blockchain than the rest of the network in a shorter amount of time.

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People

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Related Golden topics

Bram Cohen

Krzysztof Pietrzak

Ryan Singer

Further reading

Author
Title
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Type

Bram Cohen

Proof of Space and Time

Bram Cohen and Krzysztof Pietrzak

Simple Proofs of Sequential Work

Academic paper

Josh Constine

BitTorrent inventor announces eco-friendly bitcoin competitor Chia

William Suberg

BitTorrent Creator’s Chia Could ‘Fix’ Bitcoin With Own Altcoin By Late 2018

William Suberg

Altcoin Created by BitTorrent’s Cohen To Combat “Bitcoin Flaws”

Documentaries, videos and podcasts

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Companies

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References