Chia Network. Business white paper: Version 1.0 – February 9, 2021

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Chia Network. Business white paper: Version 1.0 – February 9, 2021
editor_iot
11/02/2021 – 08:24

…”Bitcoin and its underlying blockchain are viewed by many as the leading edge of an irreversible, transformative evolution of money, finance, commerce, and society itself.

As a starting principle, well-designed digital money should be easier to use than cash and harder to steal. Properly formulated, the security of your digital money should not depend upon a team of experts to be secure. Losing keys should be easy to recover from. Anyone, including individuals on their home computers, should be able to participate in the validation of transactions. Anyone should be able to farm — our version of mining — instead of a few large powerful entities.

Two trends in ​NAND​/SSD storage are also promising for chia farming. Certainly by 2031 and probably sooner than that, consumer SSD will be cheaper than the same size hard drive. This will lead to a significant decrease in the amount of energy needed to farm chia plots. Additionally there is a class of NAND storage that is generally considered waste today that could easily be turned into commercially viable farming space.”
 

 

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