Chia-coin (repo) is a python- based open-source project where "modern cryptocurrency is built from scratch, designed to be efficient, decentralized, and secure".
In contrast to Bitcoin or Ethereum, Chia coin are mined by the force of a processor or video cards, this new digital currency is mined on hard drives and SSDs.
What's space and time-proof?
While in PoW, the client should demonstrate the work he has done, in PoS, the stake is made, PoT related to Proof-of-Space suggests verification of free hard plate space. Proof of space and proof of time improve the network's security immensely.
Notwithstanding a few similitudes to Bitcoin, Chia's code is composed without any preparation and doesn't utilize the Bitcoin codebase.
To lessen the instability of the coin, Chia will utilize the essential hold made because of pre-cultivating. The engineers set the accompanying regions as their objectives: making an ideal blockchain for conveying applications, making the first traded on an open market cryptographic money near ETF, animating reception in partnerships and among end-clients.
Being one of the most trendy repo on github, there're plenty of issues are required to be resolved This may be a good opportunities for you to contribute to this "green" crypto project and gain some solid coding experience.
Top comments (10)
I'm curious how PoS is any different to PoW in the arena of essentially converting current currency wealth into the new coin. In this case, buy SSDs to earn PoS coins? I'm not entirely sure I see the point or improvement on current PoW concerns (rampant wasted energy consumption to generate coin and it landing in the hands of those who buy the most GPU power 🤔
I reckon we can definitely reuse old HHDs instead of spending thousands on new graphic cards? The whole point of PoSpace is that they don't need to use powerful GPUs and processors. I reckon miners can utilize their systems to mine crypto using both PoS and PoW at the same time. A few miners said they can't recognize any hash rate drop when mining Chia and Eth at the same time.
It may helps to drive the GPUs' price a bit lower since people are buying up all the SSDs. (theguardian.com/technology/2021/ma...)
Old HDDs are barely reliable... alas.
Yeah I agree. But you can run some health diagnostics to reduce the risk.
True. I generally do. I keep some old ones on hand as emergency fallback. Alas, had two fail on me in last half year. Not enjoying the experience even with healthy SMART reports when I first put them in. And they are generally not in use for a reason. If I've kept them the reason was not health but almost certainly just size. As in I replaced that one with a much larger one some time in the past and kept it aside just in case.
few words in and I already don't like it xD
I love python cuz it comes with a lot of free blockchain packages https://libraries.io/search?keywords=blockchain&languages=Python
🤔 odd, but that's one of the few things I love about it.
Well it probably depends on whether you like python :D
Personally I don't like it at all, but that's a rant for another day.
Guess so. You don't have to like it. But judging from its popularity a lot of is love it. I'm particularly fond of the way a Python app generally remains open source by its nature and even live in operation permits relatively simple debugging and even dynamic patching etc. If performance is not the defining need, then there are fairly popular advantages to a widely documented, supported, portable language... of course it makes little sense if you need to extract peak processor performance from a given system. Then there are indisputably better choices.