Wednesday, 8 November 2017

BitTorrent Inventor Announces Eco-Friendly Bitcoin Competitor Chia

A Bitcoin transaction wastes as much electricity as it takes to power an American home for a week, and legendary coder Bram Cohen wants to fix that. He plans to use proof of time and storage rather than electricity-burning proofs of work. I'm as green as the next guy (maybe not), but if crypto-currency is really going to replace fiat currency then I see no reason why a more energy friendly solution isn't a good thing. Chia instead relies on of proofs of space in file storage, which people often already have and can use for no additional cost. It combines this with proofs of time that disarm a wide array of attacks to which proofs of space are susceptible. Discussion

Read the full article here by [H]ardOCP News/Article Feed
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