Authentically Secure, Sustainable and Compliant Chain
Chia network is a blockchain network that is based on a sustainable Nakamoto consensus called the Proof of Space and Proof of Time. Chia chain differentiates itself from other blockchain such as bitcoin chain through a much more secure chain, compliant to regulations and sustainable for the environment. Chia chain provides its own Turing complete smart-contract language called Chialisp for decentralised application to be built on Chia chain. The security of Chia chain is sustained by approximately 350 thousand nodes, and being more auditable than other chains. In order to combat proof of work high energy usage while at the same time offering decentralisation, Chia chain uses only 0.16% of bitcoins annual energy consumption.
XCH is the token used in Chia network. Its main purpose is similar to that of ETH in the Ethereum network or BTC in bitcoin network. Its main utility is as transaction fee, set by the farmers who farm XCH into the network. XCH does not have a maximum cap, however the farming mechanism is set as such that its farming rewards are reduced for a set time interval.
Bram Cohen, Gene Hoffman, Ryan Singer.
Richmond Global Ventures, Andreessen Horowitz, Naval Ravikant, True Ventures, Slow Ventures.