Golden
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 Space. 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.

Timeline

People

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Related Golden topics

Bram Cohen





Krzysztof Pietrzak





Ryan Singer





Further reading

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

William Suberg





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

William Suberg





BitTorrent inventor announces eco-friendly bitcoin competitor Chia

Josh Constine





Proof of Space and Time

Bram Cohen





Simple Proofs of Sequential Work

Bram Cohen and Krzysztof Pietrzak

Academic paper



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