1. The so-called Chia Coin actually belongs to the virtual digital currency just like the origin of Bitcoin. At the same time, it has the monetary characteristics of decentralization, tradeability, virtual anonymity and equivalent exchange. It was founded by Bram Cohen, the inventor of BitTorrent. Similar to Bitcoin, Chia Coin will be a global open source decentralized network, and its original cryptocurrency will be used to operate the payment and settlement system, which will be called Chia Coin or XCH, which is also the principle of Subcoin. In order to understand the principle of Jia coin, we must understand how Jia coin came into being and its corresponding temporal and spatial characteristics.
2. Space authentication is an encryption technology that proves that they allocate unused hard disk space to storage space. In order to be used as a consensus method, it is necessary to link spatial proof with time proof. PoT ensures the consistency of blocking time between them and improves the overall security of blockchain.
4. Space authentication is considered as a way to prove that there is some unused storage space on the hard disk. Users of Chia Blockchain will "seed" unused space on the hard disk drive by installing software, which stores a set of encrypted numbers on the disk into a "map". These users are called "farmers". When the blockchain broadcasts the challenge of the next block, farmers can scan their plots to see if they have the hash value closest to the challenge. The probability of farmers taking a piece is the percentage of the total space owned by farmers in the whole network.
5. Time proof requires a short time interval between blocks. Time proof is realized by verifiable delay function VDF, which takes some time to calculate, but it is very fast to verify. The key idea of VDF is that they need sequential calculation, and because having many parallel machines will not generate any profit, it can minimize the waste of electricity. There may be relatively few VDF servers ("Timelords"), because the fastest VDF server is always at the front, and only a fast and fair Timelord on the network is needed to complete a block and push the chain forward. Sometimes the principle is hard to understand. Let's make an analogy. The old bitcoin blockchain has been dug, the plains are gone, and it is getting harder and harder to dig in the mountains. A good coin is similar to a fisherman. Its hard disk is used as a fish pond. The system keeps throwing fish into the online fish pond. Whoever catches the net quickly can catch the fish.
6. Background. In April of 20021year, the price of hard disk soared. It was found that it was caused by the popularity of block currency in the new area, which was Chia currency in English. Bram Cohen, the father of British Telecom, invented coins. It has an official backstage platform. At the same time, its function is indeed an upgrade of Bitcoin, so there are many optimistic friends and a lot of money coming in, which leads to an increase in hard disk prices. The consensus realization of sub-coins depends on the hard disk carrier, and the coins can be found by matching the seeds with time and space characteristics. This matching algorithm is indeed much less than the previous massive calculation. However, in April, 20021year, Chia Ya Coin Exchange was not established and Chia Ya Coin was not listed, but there was no problem in listing because Chia Ya Coin's investors had a certain background. Qibi also has its own development language Chialisp, which is an obvious progress.
7. Sub-currency income. On 2021April 18, Bitcoin fell sharply. The reason for the decline is estimated to be related to Jiaya, so Jiaya's income will rise, but virtual currency investment is risky. If you don't have much principal and time, you should think it over. However, there is still some guarantee for those who entered the market in the early stage.
8.Coin has an innovative Satoshi Nakamoto consensus algorithm, which eliminates the energy requirement of system workload proof. Compared with other cryptocurrencies, Chia will have better security because of its decentralized blockchain. Chialisp is a new intelligent transaction programming language introduced by Chia, which is powerful, easy to audit and secure, and will provide the security, transparency and ease of use of cryptocurrency promises. Coin also uses more modern encryption tools to realize richer intelligent trading functions. Qibi is adopting a new advanced method to provide funding, construction and support for blockchain through public, profit and open source development companies.