Chia|An Ecological cryptocurrency.

in LeoFinance3 years ago

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The world of cryptocurrencies is quite wide and everything has a place, you only need to have the desire to move forward, as Bram Cohen, the creator of BitTorrent developed an algorithm with which you can mine a new cryptocurrency called "CHIA", this new cryptocurrency is developed under the use of storage units, as stated by the web portal Tech Radar.

Chia is not yet available in the market, but it is already envisioned as a powerful cryptocurrency, this because it is designed to be an environmentally friendly cryptocurrency, since instead of relying on graphic processing units (GPU) that consume too much energy, it will take full advantage of the power of solid state drives (SSD) or simply hard drives that require fewer resources, this makes Chia innovative within the rest of the cryptocurrencies that are currently on the market.

The important thing about Chia is that it will have the main characteristic of all cryptocurrencies, that is, it will be a decentralized currency and it will depend on the space available in the storage unit. On the other hand, unlike cryptocurrencies with GPU units, users can use the available space to store other types of data (images, documents, programs).

One of the main concerns that are being generated in the environment of Chia, is that being an ecological cryptocurrency that can be mined through SSD storage units, these storage units run the risk of being easily exhausted in the market, due to the high demand that they will have by users interested in mining this cryptocurrency. During the mining of Chia 2GB files require a 2TB SSD storage (read and write), so a large amount of SSD drives will be required.

According to the technology portal HKEPC, currently in the city of Hong Kong there is a terrible panic of acquisition of SSD storage units of 4TB and 8TB capacity, this due to the possible price hikes that these units can get in the not too distant future. Another reason that can trigger prices and deplete these SSD storage units in the market is that the mining process with SSD units will have a limited lifespan due to the large number of daily operations that must be performed to be able to do the mining process.

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