Chia Mainnet launched on March 17 with a 21 million XCH available to be farmed by the community and Gene Hoffman told that Chia Network has more than 600,000 nodes. Xchscan has a table and pie chart showing Chia’s distribution from block and uncle block mining rewards to arrive at the current total Chia supply. The price of Chia (XCH) in USD is also shown in the table. It calculates the market capitalization using both the total supply of Chia and the current price in USD, as shown in the pie chart.
Currently, Chia has a Total Supply of 22,303,107.93 XCH XCH and a Market Capitalization of $368,050,301.61. Breakdowns by supply type:
- Genesis(Pre-farm) 21,000,000 XCH at Percentage of 94.16 %
- Block rewards: 1,303,107.93 XCH at Percentage of 5.84%
Chia is a cryptocurrency that is using the first new Nakamoto consensus algorithm since Bitcoin. Called Proof of Space and Time, Bram Cohen created Proof of Space and Time. Chia’s new innovative Nakamoto consensus algorithm removes the energy demands of Proof of Work from the system, making it as energy efficient as possible.
Proof of space can be demonstrated if you have unused storage space on your hard disk drive (HDDs) or solid-state drives(SSD), Chia blockchain users will "seed" unused space on their hard disk drive (HDDs) or solid-state drives(SSD) by installing software that stores a collection of cryptographic numbers on the disk in the form of "plots."
These individuals are referred to as "farmers." When the blockchain broadcasts the next block's challenge, farmers can scan their plots to see if they have the hash that is closest to the challenge. The probability of a farmer winning a block is determined by the percentage of total space that a farmer has in comparison to the entire network.
Chia Network has created a novel business model to reduce coin volatility while also increasing adoption. It hopes to reduce the volatility of the token from quarter to quarter by lending Chia and managing the interest rates on those loans, as well as using other tools such as buying Chia stock with Chia coins.
Where to Buy Chia
You can buy Chia at various trusted crypto exchanges:
- Houbi Global with a ticker pair symbol of XCH/USDT
- XT.COM with a ticker pair symbol of XCH/USDT
- Gate.io with a ticker pair symbol of XCH/USDT
- OKEx with a ticker pair symbol of XCH/USDT
- HitBTC with a ticker pair symbol of XCH/USDT
These cryptocurrency exchanges are similar to the stock exchanges in that they focus solely on cryptocurrencies rather than stock trading, buy, sell, and futures trading.
The Company went Public earlier this Q2 2021 to hold an Initial public offering(IPO) to the investors to get the Chia (XCH) without buying a digital asset.
About Chia Network
Chia Network is a blockchain startup founded in August 2017 to create a better blockchain and smart transaction platform. Chia Network was created by Bram Cohen, the inventor of BitTorrent. It also includes executive leadership from Gene Hoffman, the former founder and CEO of eMusic.com and Vindicia, and Mitch Edwards, the former acting CEO of Overstock.
The Chia blockchain was built to improve the global financial and payment systems; Chia is the world's first enterprise-grade digital money. It aims to operate an eco-friendly, more secure, and user-friendly payment system for cross-border payments, issuing financial assets, lending, escrow payments, institutional custody, and distributed identity.
Chialisp is Chia's new smart transaction programming language that is powerful, easy to audit, and secure and will unlock the security, transparency, and ease of use that cryptocurrencies promise.