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"Bitcoin rival Chia 'destroyed' hard disc supply chains, says its boss". " 'Green' bitcoin alternative Chia is leading to hard disc shortages". Chia is a cryptocurrency where mining (or in chiasphere, farming) is based on the amount of hard disk storage space devoted to it rather than processing.
![chia cryptocurrency ticker symbol chia cryptocurrency ticker symbol](https://i.pinimg.com/originals/7f/9d/f1/7f9df156405b15731727193979001060.png)
"Chinese coin miners flock to new cryptocurrency Chia resulting in hard drive shortages and price surges". ^ Xue, Yujie Feng, Coco (23 April 2021).^ "Green crypto startup Chia Network doubles its valuation to $500 million and is mulling an IPO, report says".^ "Chia, the 'green' Bitcoin alternative, looks to IPO as early as this year".^ "Blockchain Startup Chia Nabs $500 Million Valuation, Eyes IPO"."This crypto claims to solve bitcoin's biggest problem". Concerns have also been raised about the mining process destroying drives' lifetime. In May 2021 Gene Hoffman, the president of Chia Network, admitted that "we’ve kind of destroyed the short-term supply chain" for hard disks. Hard drive manufacturer Seagate said in May 2021 that the company was experiencing strong orders and that staff were working to "adjust to market demand". In China stockpiling ahead of the May 2021 launch led to shortages and an increase in the price of hard disk drives (HDD) and solid-state drives (SSD). The same month, the company announced plans to conduct an IPO before the end of 2021, however as of March 2022, the IPO has not yet occurred. In May 2021, Chia Network raised a $61 million investment, valuing the company at about $500 million. The Chia Network was founded in 2017 by American computer programmer Bram Cohen, the author of the BitTorrent protocol. The platform was created by a California based company called Chia Network Inc. com /Chia-Network /chia-blockchainĬhia is a cryptocurrency where mining (or in chiasphere, farming) is based on the amount of hard disk storage space devoted to it rather than processing power as with Proof of work cryptocurrencies such as Bitcoin and Ethereum.
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( May 2021) ( Learn how and when to remove this template message)ġ.0.0 / 17 March 2021 (16 months ago) ( ) It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. A major contributor to this article appears to have a close connection with its subject.