Chia XCH

Chia Network is a Layer 1 blockchain designed to offer a greener approach to transaction processing. The project is based on a novel Proof-of-Space-and-Time (PoST) consensus mechanism that uses users' free disk space to confirm transfer. It significantly reduces energy consumption compared to traditional Proof-of-Work (PoW) and mining methods. This innovative method makes Chia attractive to investors looking for more sustainable and efficient solutions.

Chia was founded by Bram Cohen, who is best known as the creator of the BitTorrent protocol. Under his leadership, the platform aims to provide an eco-friendly platform for smart contracts and transactions with an enterprise-oriented focus. The company plans to go public and list its shares on stock exchanges, emphasizing its commitment to transparency and compliance.

The Chia Network has its own native token, XCH, which serves as the main currency in the ecosystem. It is primarily used to reward users who contribute their disk space to the security of the network; this process is known as farming. In addition, with the XCH token, users conduct fast and secure transactions as well as interact with smart contracts developed in the Chialisp programming language. Currently, XCH has a price of $5.36, with a market capitalization being $77.34M, and its trading volume reaching $3.72M in the last 24 hours.