Chia (XCH)

What is Chia crypto currency? Chia (XCH) is a decentralized, open source cryptocurrency created by Bram Cohen, the founder of BitTorrent. The main feature of Chia is a proof-of-space-time consensus mechanism, which uses users’ unused disk space to secure the network and process transactions. The coin has been developed to focus on sustainability, scalability, and security. Who founded it? Chia (XCH) was founded by Bram Cohen, the founder of BitTorrent, in 2018. Bram has extensive experience in the field of computer networks, having also created the first ever decentralized peer-to-peer file sharing system more than 20 years ago. What Makes it Unique? Chia's consensus mechanism is its most prominent feature. It does not use electricity like most proof of work systems used in other cryptocurrencies, instead it uses resources such as available space from its users’ hard drives. This is a much more efficient way of verifying transactions, as it does not require a high amount of power or large mining rigs. Additionally, Chia is designed to be highly secure, utilizing a double-layer verifiable random function (VRF) to ensure every transaction is random, secure and verifiable. Another notable feature of Chia is that it is designed to be highly decentralized, with no mining required to secure the network. Where does it used? Chia (XCH) is used to make secure and reliable payments, with its decentralized network providing the infrastructure for users to send and receive payments in a fast, secure and low-cost way. Additionally, it can be used as a store of value and as collateral for securing loans and other financial products. Where to buy/sell it? Chia (XCH) can be bought and sold on a variety of exchanges such as Binance, Coinbase, Kraken, Bitfinex and Huobi. It is also available on decentralized exchanges such as Uniswap and Kyber.