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What is Chia Coin (XCH)?

In recent months, the price of cryptocurrencies has risen sharply and countless people have entered the market. Most of these cryptocurrencies are extracted by pressing on the processor and graphics card, but now cryptocurrencies are in the searchlight that does not depend on these components. This code is called Chia coin and we want to take a closer look at it.

Chia coins are increasing in world trade. Investors want to use it more and more in their transactions. Chia coin is a kind of cryptocurrency and has special networks. It is a smart blockchain platform for trades. The inventor of the Chia coin is Bram Cohen.

Instead of the Proof-of-Work (POW) algorithm Bitcoin and other blockchains that use this algorithm to process transactions and extract coins, Chia coin Currency is a storage-based protocol based on the Proof-of algorithm. Chia coin password is the currency that follows this protocol to work.


Why was the currency code created?

Chia coin does not use bitcoin code and has its own unique code. Now the question is, was the existence of bitcoin not enough, and what is the need to create what?

When Bitcoin was developed, it was not considered that when special hardware (ASICs) would completely overtake computers in mining, Bitcoin, which was intended to be a decentralized network, is now in the hands of some. It fell to the miners, who had access to cheap chips and the ability to buy electricity at wholesale prices. The miners who currently control the bitcoin network have the upper hand and oppose it even when the network needs to change. To solve this problem, Chia coin had access to ten years of experience gained from the Bitcoin network.

Compared to other cryptocurrencies, the Chia coin is more secure due to its more decentralized blockchain, and also has access to more modern encryption tools that allow the network to create smarter transactions.


What is the meaning of the Chia coin?

The word chia is inspired by the plant seed of chia. Chia coin is trying to create a green porcelain block by reducing its energy dependence; For this reason, instead of the word miner or miner, he uses "farmer" meaning farmer, and instead of mining or farming, he uses "farming" meaning agriculture. The concept of farming is the best word to refer to the use of unused hard disk space, and the one who patiently plants chia will eventually be rewarded with the buds of the plant.



How does Chia coin Currency work?

Because the POST approach does not use computing power like bitcoin, etc., it does not require energy to create coins. Miners allocate their extra storage space to the network, and the probability of producing a chia coin is commensurate with the space they need compared to the total capacity of the network. According to Hoffman, Chia coin is currently the largest storage blockchain, surpassing File-coin (a currency code that follows a similar algorithm).

China Chia coin Blockchain uses Chia coin-lisp, a new, secure, and easy-to-use programming language for encrypting currencies and generating digital currency. The goal is to make the currency code much easier to use than cash and also do less harm to the environment. Anyone can download this software from the Chia coin website and get this currency if they have enough storage space on their hard disk and a simple computer system.


What is currency extraction like?

Now you generally know what chia coin currency is, but first of all, I have to say that to extract chia coin currency we use the term farm, which represents what we describe below and separates it from other bitcoin methods. Slowly To produce chia coin, we resort to the free memory of our hard disk. Downloading and installing software along with unused storage space and a typical computer system are all the tools we need to extract Chia coin currency or its farm. These hard disks store a set of cryptographic numbers called "plots".

Instead of miners or miners, chia coin miners are called "farmers" or farmers. And this is because it requires very little cheapness compared to other currencies. The probability of a farmer winning a block depends on the amount of space it provides to the entire network. The more plots, the more likely you are to make money.

You can use this calculator to get the potential amount to extract chia coin currency. You need a Windows PC with SSD to start farming, but mac-OS and Linux are also supported.

Calculating dollar earnings from chia coin currency
  • Visit Chia coin's website.
  • Click on "Install Chia coin Blockchain".
  • Scroll down to the Windows version and download Chia coin Blockchain for Windows.
  • Install and run Chia coin Blockchain.
  • Click "Create a new private key". (Make a note of the 24-word note provided. You will need it to recover your wallet and chia coin.)
  • Click on "Plots".
  • Click on "Add Plots".
  • Fill in the required information.
  • Then you will be shown the amount of profit.


Computer and proposed system for Chia coin currency

A good farm to extract chia coin currency requires all the common computer components. Your directory, where the plots are loaded, will need an SSD for better performance. Using the wrong system and not having an SSD may cause you problems. You can select SSD or HDD to determine the final plots. However, the tools you use should be substantial and appropriate for this purpose.

As long as you have the right processor, enough RAM, and great SSD memory, you can easily generate Chia coin currency with your PC.

chia coin currency

Official Chia Blockchain Discord Servers

Last Word

We knew what Chia coin currency was and how it was obtained. Have you or your friends ever formed a currency? Do you think this is cost-effective? Many analysts believe that the Chia coin currency chart is not analyzable and its price may fluctuate sharply. In this case, as the price drops, the amount of reward you receive from the network will be less. In general, the world of digital currencies is a world of risk and new experiences. As a result, you must first acquire the necessary knowledge.




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