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Massive premine on Chia, didn’t know that. I have a hard time believing that many nodes are reachable, there are probably about that many users in general, if t

by dbv1 4y ago

Massive premine on Chia, didn’t know that. I have a hard time believing that many nodes are reachable, there are probably about that many users in general, if that. Looking at the latest dozen blocks right now, they’re completely empty.

mjmj 4y ago
Their software runs a full node and a wallet, so most users are a node by default (if I’m not mistaken) and rewards are double for the first couple years. You can run their software and just about anything, low powered CPU’s, pi’s, NAS, etc. So I don’t doubt their numbers are too far from the truth, esp considering how much China supports them. Nodes have been slowly dropping over time as the crypto boom cycle has died down. As far as real transactions, they’ve got a way to go. Just releasing NFT support a few months ago.
- 1024qw 4y ago
  In the beginning everyone had to run a full node even if they weren’t farming (in Chia instead of mining it’s 2 stages, first plotting and then farming) but earlier this year Chia released a new light wallet which doesn’t run a full node. Now it should be mostly actual farmers that run full nodes. Chia currently has 22 EiB of netspace which would be more than 1.5 million of 14 TB hard drives.
  - schlauerfox 4y ago
    They made a pooling protocol too to avoid the issue bitcoin had with centralization of the big pools.
  - donmezgel 4y ago
    So is this 120k nodes are validating/producing/verifying the blocks?
1024qw 4y ago
Chia Network explains the reason for the prefarm and how it’s going to be used in their whitepaper https://www.chia.net/assets/Chia-Business-Whitepaper-2022-02-02-v2.0.pdf https://www.chia.net/assets/Chia-Business-Whitepaper-2022-02... Also worth checking about Chia Network projects with WorldBank and InternationalFinanceCorporation for carbon credits market https://www.chia.net/2022/08/17/bringing-transparency-and-efficiency-to-carbon-markets.en.html https://www.chia.net/2022/08/17/bringing-transparency-and-ef... about some real use that is launching very soon.

by dbv1 4y ago

mjmj 4y ago

Their software runs a full node and a wallet, so most users are a node by default (if I’m not mistaken) and rewards are double for the first couple years. You can run their software and just about anything, low powered CPU’s, pi’s, NAS, etc. So I don’t doubt their numbers are too far from the truth, esp considering how much China supports them. Nodes have been slowly dropping over time as the crypto boom cycle has died down. As far as real transactions, they’ve got a way to go. Just releasing NFT support a few months ago.

1024qw 4y ago
In the beginning everyone had to run a full node even if they weren’t farming (in Chia instead of mining it’s 2 stages, first plotting and then farming) but earlier this year Chia released a new light wallet which doesn’t run a full node. Now it should be mostly actual farmers that run full nodes. Chia currently has 22 EiB of netspace which would be more than 1.5 million of 14 TB hard drives.
- schlauerfox 4y ago
  They made a pooling protocol too to avoid the issue bitcoin had with centralization of the big pools.
- donmezgel 4y ago
  So is this 120k nodes are validating/producing/verifying the blocks?

1024qw 4y ago

Chia Network explains the reason for the prefarm and how it’s going to be used in their whitepaper https://www.chia.net/assets/Chia-Business-Whitepaper-2022-02-02-v2.0.pdf https://www.chia.net/assets/Chia-Business-Whitepaper-2022-02... Also worth checking about Chia Network projects with WorldBank and InternationalFinanceCorporation for carbon credits market https://www.chia.net/2022/08/17/bringing-transparency-and-efficiency-to-carbon-markets.en.html https://www.chia.net/2022/08/17/bringing-transparency-and-ef... about some real use that is launching very soon.