3 ms·

How much of it is currently utilized?

• gruez 5y ago
  AFAIK unlike storage coins (eg. sia or storj), it's not being used for anything, it's just "burned". Proof of work burns compute cycles. Proof of storage burns storage space.
  • rckoepke 5y ago
    I don't understand why one would need multiple drives then. Seems like you could earn the coin, sell it for USD, erase the drive, and earn another coin with the same disk. What prevents this?
    • snovv_crash 5y ago
      You earn the coin continuously for proving that you still have the disk full of random data. It isn't a once-off thing.
      • Talinx 5y ago
        Why doesn't that mean that coins can only be transferred through the sneakernet? If you get coins from someone else do you have to trust them to have the plot still around?
        • Glench 5y ago
          That wouldn't make for a very useful global ledger :) Once a farmer wins a block it's theirs, the same way it works with bitcoin. The reward is tied to a public key, not the original storage. Just like in bitcoin once a miner wins a block they don't need to continuously prove that they have x amount of hashing power in the future. You can learn more about the details of the blockchain and algorithm here: https://www.chia.net/greenpaper/ https://www.chia.net/greenpaper/
    • mvanaltvorst 5y ago
      There's two parts to Chia: plotting and farming. Plotting is a one-time cost of ~5-10 hours for a SSD, and after that you can start farming and you continuously earn Chia by proving your drive still contains the random data that got initialised during plotting. Erasing the drive would mean you have to start over and you lose ~10hrs of income.
• rektide 5y ago
  the marketplace thing doesn't open till next week.