What is the Chia mining madness?

I do not know if you noticed, there's a new kid on the block!

Chia and the native token, XCH is a new proof of space (yes!) that is using storage space on hard drives in order to be farmed.

Apparently, this has already messed with HD stock around the world as people are trying their luck farming this coin.

Chia has been developed by Bram Cohen, you may know him as he was behind BitTorret, so I guess this is a good start?

It's a. very new project launched this month and already making headlines.

The proof of space and time is a unique consensus mechanism using space both on hard drives (HDD) and SSD's. Farmers need to write 100GB plots on their drives and when a new block is added to the blockchain you win a reward.

There are already people chatting about HD dying left and write.

Also, interestingly enough if you look closer into SSD you will realise you have a limited number of times you can fill a drive before it reaches their lifespan.

It's an interesting concept and I have a 28TB monstrosity due to my media work but I need to look more into it.

Let me know if have already had a look. at this and what your thoughts are!

Posted Using LeoFinance ^Beta