A while ago we talked about the problem that the world of the cryptocurrency is having: the mining consumes too much. An excessive consume that now isn’t anymore sustainable. So or we definitivelly give up with the univeerse of the digital money or we find a solution. Obviusly no one wants to give up with that piece of future, first of all the ones that created that world. It was like that arrives Chia, a revolutionary, green and ecosustainable cryptocurrency. Let’s discover it together.
The cryptocurrency one isn’t a green world
Chia was created by Bram Cohen, the BitTorrent’s dad, so we are talking about a person that made of the “crypting” a lifestyle. The Bitcoin, the ultimate cryptocurrency, is the one that by itself rules the marketplace of the digital money, all by itself it consumes as well as the whole country of the Argentina.
The 2021 saw an incredible growth of the marketplace of the cryptocurrencies. First of all right the Bitcoin, that, in April, passed the 64.000 dollars. But even the others did great, like Ethereum, that during the same month passed the 4000 dollars.
It’s estimated that at the moment there are about 5000 cryptocurrencies around. They have something in common: all of them consume too much. Their recent growth risks to end with a rash fall.
The cryptocurrencies are all the eyes on them because of their procedures, first of all the mining, that are not ecosustainable.
Chia, the green cryptocurrency
In this scenario, where the future of the cryptocurrencies is extremely unsure, Chia got noticed soon, especially because it presented itself as the “green cryptocurrency”.
“We believe that cryptocurrency should be easier to use than cash, harder to lose, and nearly impossible to steal. Anyone who wants to validate transactions should be able to farm without single-use hardware or a big electricity bill.”.
This new cryptocurrency promises to solve all the problems created by the previous ones. Even though Bitcoin says that its “mines” use renewable energy, as much as possible, many thinks it isn’t true. In reality most of the mines of Bitcoin are, at the moment, in China, where the electricity is lower. And it’s hard to believe that they are using renewable energies, when the carbon plants create cheaper energy.
Anyway, this won’t be a problem anymore, because Chia doesn’t need the mining. This cryptocurrency won’t be mined, but grown.
How do we grow Chia?
All the cryptoccurencies are based on the method of the mining, which was used for the first time by the Bitcoin.
The mining uses powerful computers to solve complicated mathematical puzzles and to unlock the tokens for the cryptocurrencies.
This system is called “Proof of work”, but it isn’t used by Chia, which, instead, uses a system called “Proof of space time”.
Chia isn’t mined, but grown. To grow Chia we need many empty hard disks, where we can host a high number of blocks (plot).
The user “seeds” the empty space on the hard disk and SSD, by memorizing a serie of crypted numbers. Every collection of crypted numbers is a “piece of land”. For each completed piece the “TimeLord”, the server dedicated to verify the land, awards the user with a chain of the blockchain and it allows him to go to the next chain.
We just grown our first Chia.
The users can come back to compete
The Bitcoin as well as the other cryptocurrencies found space at the beginning between the normal home users. Even though to mine them one needs a very powerful hardware with a consequence consume of energy, but even of materials, for many it worthed.
As the time went by, though, the home users won’t able anymore to compete with the big farms of Bitcoin, where they mined with no stop. The home users became ever less and ever more sceptical to try.
With Chia, though, they might can back to compete.
Everyone might have the right to mine. That’s what the website Chia says, even if, in this case, it’s not about mining, but farming. And, about it, the users aren’t called miners, but farmers.
Advantages and disadvantages of Chia
Chia is much more green, because it requires a very lower consume of energy compared with the mining. It’s even easier, safer and affordable for anyone.
Anyway, there is always the other say of the medal. Chia is on the marketplace of the cryptocurrencies for a very short time, but it already caused many problems to the marketplace of the hard disk and of the SSD. The requeires of this kind of product increased a lot (in some asian countries it, even, doubled) and the producers aren’t able to satisfy the request. Therefore even the prices are growing.
But there is a further problem that the producers must solve. They can’t guarantee anymore about their products. The growth of Chia, infact, caused a drop of the life of the hard disk until few months, when, in reality, they might last for decades.
The producers are forced to cancel their guarantees, but not only. A such short life of this hardware material will bring to a vertiginous increase of the electronic garbages, which are a problem already.
This new cryptocurrency promises to be revolutionary, but it’s still all to see. While they try to fight the problem of the electricity consumption, new problems arrive. Will it bring more advantages or disadvantages?
If you would like to insight the topic we can present you the YouTube channel of Amerigo Russo, his channel counts thousands of members and his videos are real guides that will bring you to know advantages and disadvantages of this revolutionary cryptocurrency.
This post is also available in: Italiano