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This project may appeal to people who are critical of proof-of-work blockchains (like Bitcoin) due to their high energy consumption. From chia.net: Chia Networ
by thinkmassive 6y ago
This project may appeal to people who are critical of proof-of-work blockchains (like Bitcoin) due to their high energy consumption.
From chia.net:
Chia Network develops a blockchain and smart transaction platform created by the inventor of BitTorrent, Bram Cohen. It implements the first new Nakamoto consensus algorithm since Bitcoin in 2008. Proofs of Space and Time replace energy intensive “proofs of work.”
- ergot_vacation 6y agoI remember hearing Cohen was working on a crypto ages ago and filed away in the "Neat, wake me up when it's actually real" category. Now it looks like it's actually real. I'm massively jaded about any and all crypto at this point, but I've always felt if any of them were to really take off, they'd have to be more "practical", down-to-earth in solving solvable problems rather than trying to conquer the whole earth as most of them try to do. This feels very much like that. The #1 issue with Bitcoin IMHO is that it can't be used as everyday currency because it's wildly unstable (speed is a close #2). This cripples adoption massively. In contrast, Chia seems to be deploying several strategies right out of the gate to try to squash wild value fluctuations. Will this work, and will anyone care? Who knows, but it at least seems to be on the right track.