Chia (XCH)
| Market Cap | $201,267,949 |
|---|---|
| Trading Volume | $7,940,510 |
| Volume / Market Cap | 0.0395 |
| Total Supply | 27,194,590 XCH |
| Max Supply | – |
Chia is currently trading at $32.49, after a price change of 0.73% in the last 24 hours.
Ranked as cryptocurrency #124 by capitalization today, XCH market cap is valued at $201,267,949. XCH trading volume reached $7,940,510 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on XCH coin price prediction page.
What is Chia?
Chia is a layer 1 blockchain for the development and deployment of smart contracts. The platform uses a consensus algorithm called the Proof-of-Space and Time and is written in a customized programming language, Chialisp. Chialisp allows developers to deploy a wide range of network functionalities on Chia, like cross-border settlements and the issuance of stablecoins.
PoST is customized for less energy and enhanced security. The consensus combines two proofs; the proof-of-space and the proof-of-time. The proof of space rewards users for lending out their unused disk capacity, while the proof-of-time is a timestamp based on the Verifiable Delay Functions. The project was launched as a network of nodes operating a payment settlements system powered by a native XCH token.
There are 3,710,511 circulating XCH tokens from an uncapped supply of 22,582,025. Chia uses a centralized distribution model, with the initial supply of 21 million allocated to the founders and the project. The token is used as an incentive to support the Nakamoto consensus. The block rewards are earned by farmers when completing the PoST transactions on the network. The platform uses off-chain governance to manage new ideas with discussions on Chia Developer Forum and GitHub repositories. Chia was founded by BitTorrent creator Brian Cohen in 2017 and incorporated in the State of Delaware.