What Is Chia(XCH)?
Chia Network (XCH) is a layer 1 blockchain that uses its own custom-designed programming language called Chialisp and a novel consensus mechanism called proof-of-space-and-time (PoST). The combination of these two allows the blockchain to use less energy without compromising network security.
In contrast to most other blockchains, Chia Coin Network is a public, for-profit, open source company that aspires to become listed on NYSE or NASDAQ. Its blockchain is aimed at enterprise use, which is why Network plans to have XCH on its balance sheet in case of a listing.
Chia Network first proof-of-time function was released in 2019, with the first beta version of its blockchain launching in 2020. The Network achieved full functionality, including wallet functionality, transactions and smart contracts, with its mainnet launch in 2021.
Chia is a cryptocurrency and blockchain smart transaction platform. It was designed from the ground up to make cryptocurrency easier to use — and harder to lose — than cash. The blockchain maintains the same level of security as Bitcoin’s, while using a fraction of the energy.
Important Points Table Of Chia
| Basic | Points |
|---|---|
| Coin Name | Chia |
| Short Name |