2021 is undoubtedly the year of digital currency, with bitcoin breaking an all-time high and Coinbase’s market cap exceeding 100 billion won on the first day of listing, and big players are jumping into the digital currency market. With the surge in IPFS, people who do not participate miss the opportunity, and the mining company market exploded due to the surge in token prices, but the current price and the cost of hash power are already 10 times higher in inflation than last year.
Chia is a technology hardcore project that has been working silently since its establishment in 2017 for three years, and announced the launch of the mainnet on March 19, 2021. There is currently no Chia coin XCH off-the-shelf, and 380,000 XCH will be mined for the first time on April 29, 2021. Users who participate for the first time are likely to make a profit. It is one halving cycle every three years, and it can mine 10 million in the first 3 years and 19 million in 13 years.
ChiaStar is a dental network ecosystem construction service provider that provides one-stop mining services such as tooth miners, commissioned operation maintenance, and mining pools, and seeks to utilize teeth for financial settlement and global charity. On April 18th, blockchain investment group BLOCK GLOBAL, headquartered in Singapore, announced that it has made a strategic investment in ChiaStar in collaboration with IPFSTAR101, a top-tier Korean mining company. Announced that it will support market entry.
â—‡ Accidents caused by the fire market
Will the bull market lead to a soaring digital asset, or will there be more investment opportunities? There are people who miss an opportunity every time in the bull market, and there are people who walk in vain in the bear market every time. Greed and ideas were the biggest obstacles to gaining wealth.
The explosive rise of currencies like FIL, DOT, and UNI teaches a serious lesson to each investor that a fair price and focus on great companies can allocate more money with high rewards. As the mainstream currency price rose from January 1, 2021, it was also considered one of the hottest value investment cases as of 2020-2021. Even if you look at the global consensus, on-chain events, and the degree of participation of institutional investors, this bull market has a long way to go. ‘Hardcore’ based on ecology and technology, such as upgrading and optimizing the value ecosystem for decentralized technology, continues.
â—‡Project core overview
1. New blockchain base: new blockchain programming language chialisp, easy to review and safe. CHIALISP is an excellent on-chain smart transaction development environment that can provide security, transparency and ease of use of cryptocurrencies.
2. Peer to peer and distributed storage’ancestors’: Chia was created by legendary programmer, BitTorrent founder Bram Cohen.
3. Top-tier institutional investors: Coinbase, A16Z, and other industry-leading investment institutions.
4. Huge Vision: Chia’s goal is to be the first’ETF-like’ cryptocurrency that can be publicly traded, allowing sovereign countries, financial institutions and businesses to use cryptocurrencies on a daily basis.
5. Converged technology, clear applicability
1) BitTorrent has successfully applied more than 10 years in the world. This is a very good technical application confirmation example.
2) Bram Cohen uses a new programming language to optimize the blockchain transaction account system to make on-chain smart contracts more efficient.
3) A unique and continuously optimized construction proof consensus algorithm for 4 years, and built a more eco-friendly and efficient blockchain network than Bitcoin’s hash power competition that meets Chia’s initial vision, and the miner is custom-made and cannot be applied to other commercial fields. . Chia’s storage network and hash power network can themselves use other business applications.
6. The project focuses on legal and enterprise-class commercial applications, exploring ETFs and enabling global investors to legally participate in future Chia.
â—‡Core team
Created by BitTorrent founder Bram Cohen, legendary programmer of Chia Network.
Team members include Jenny Hoffman, former chief executive of EMUSIC.com and Vindicia, as well as former CEO Mitch Edwards of EverStock.com.
â—‡Investment institution
According to the news, the Chia Network has received investments from a number of renowned investment institutions and has raised a total of $16 million in loans over several occasions, most recently 500 invested by Slow, Collab Crypto, IDEO, Naval Ravikant and others in August 2020. I got a $10,000 loan. Chia is expected to be listed on NASDAQ in August 2021, and the participation method is in the form of equity, with a total limit of $30 million.
â—‡Chia working principle
Unlike existing cryptocurrencies, Chia uses idle disk space on the hard disk to execute space certificates and verifies the blockchain by coordinates with a different consensus algorithm profile (Potime). Chia Farmers’ Benefits and Resources-Storage space is directly proportional. If you have 10x space, you will be rewarded 10x. However, the posts here are different from Filecoin, which is different from Bitcoin’s mining mechanism. Seeding Chias’ free disk space is the same as mining with Bitcoin hash power, but Chia is more suitable for the participation of regular users, reducing additional Asic, hash power, and power consumption. Chia’s mechanism naturally acts as a deterrent to centralized seeding.
â—‡ Start mining Chia
Revenue per block: 64 Chia rewards every 10 minutes
Halving strategy: 3 years halving, every 10 minutes after 13 years 4 Chia
Estimated Effect: Currently in the excavation phase, transfers will be made on April 29th.
Token name: XCH
Block generation time: 10 minutes
Half-life cycle: 3 years
Amount to be mined: 21000000
Total distribution within 50 years: 47910720
The average amount of hash power mined per T is about 0.032, and the entire network is also increasing rapidly.
Currently, general computer mining is very difficult, and specialized mining machines have appeared. The most important thing is the P-disk function (plot drawing), the final plot file size is the hash power value, and the 2T type of the current M.2 interface has a relatively high setting of the hash power closure for the solid.
Since the CHIA mainnet does not currently have a transfer function, all of its value is evaluated, and I estimate the value by comparing FILs with a considerable skill background as a comparison item.
First, as a result of estimating the market price of Chia’s first year, it started in 2017, the background of which is not behind FIL at all, and the market price of FIL’s distribution in the first year was reasonably evaluated, and the current market price of FIL is $11,597,892,098. The integer is 10 billion dollars, and Chia will produce 64*6*24*365=3363840 in the first year, plus 21 million strategic reserves, totaling 24363840 for the first year, 1(xch) = 10 billion/24363840 = 410.44 (dollars). This data is calculated and referenced as a theoretical value.
Chia doesn’t personalize, and at the moment, the only way is to get it by mining. All investment institutions are global large venture companies, and the mining mechanism is Poc, which has very high technology and a very good control panel system.
â—‡ 21 million strategic reserves
First, Chia needs to make financial disclosures to ensure transparency. It must be reported in accordance with the US 1933 Act and 1394 Act, and will focus on listing on the NASDAQ under the supervision of the US SEC. Meanwhile, ChiaStar is starting to subscribe to Chia Miner Hash Power.
