What is Chia Network?
Chia Network is new blockchain innovation with ambition of building more eco friendly and smart transaction platform. The development of project was started back in August 2017 lead by one of the best network protocol engineer and founder of BitTorrent “Bram Cohen”. This project will be the first ever project that implemented Proof of Space algorithm to eliminated use of proof of work.
Chia published white paper on 9th February 2021 and following that launched main network on 19th may 2021. However, developer believes that crypto should be easy to use, highly secure, untraceable and harder to lose comparing traditional currency. Every transaction should complete without use of any hardware and high electric consumption. Targeting fossil fuel-based miner who still uses proof of work for completing their transaction that include Bitcoin and other top crypto.
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Chia Network has invented Chialisp a new type of advanced transaction programming language, which is highly efficient, powerful, transparent, secure and complete package for better UI. Software based is available for purchase and for supporting governments, institutional finance, corporate, business and other developer in blockchain space. Chia in future starts working on decentralized finance, exchange and cross border payment along with all-in-one wallet alternative for existing decentralized services.
Chia Network Price Prediction
|Month & Year||XCH Price Prediction|
Chia Network Overview
|Project name||Chia Network|
|Based on||Proof of Space|
|Exchange Platform||Huobi Global, Gate, MXC, OKEx, CoinEx, Bibox , LBank, AOFEX, DigiFinex.|
|Partner & Investor||True Ventures, Andreessen horowitz, greylockpartners, metastable, Galaxy investment group, dcm, STILLMARK, Slow Ventures|
XCH Price Analysis
XCH is native token of Chia ecosystem that playing huge role in paying for blockchain services use and farming feature. Following launch of mainnet Chia trading start with average price $1,399 and surged up to peak by reaching $1934 USD. Chia network diluted market cap as of writing worth around $22 billion dollar, as CMC and Coingecko yet report market cap volume that will decide ranking in top 100 crypto project. apart from Huobi Global, OKEx Chia coin yet to be listed on top tier Crypto exchange including Binance, Coinbase and other that will be turning point for Chia and possible reason on bullish run.
In recent market crash Chia still holding price above $1000 resistance level, as it is expected that XCH could hit $5k and even $10k mark before year end of 2021. 2022 will be the big year for Chia, as amazon AWS already roll mining solution of chia on their platform. in future, Chia mining solution could be provided on top industry leader in storage industry.
Will XCH Token hit $10,000?
On paper and fundamentally this figure is more achievable, as total supply of XCH token is low.
Is Chia Network a Good Investment?
To be honest this is perfect project that elon musk wanted from Bitcoin, as following mainnet launch different news media cover this project with title nature friendly blockchain. we suggest you consider Chia network as long-term investor that ranges from 2 to 5 years from now 2021.
Storage industry gained another gem of blockchain project with Chia network and it is developed by industry expert and founder of most successful storage project BitTorrent. Chia network is here to create new innovation with their payment services and open source blockchain provided to upcoming blockchain project and developers. Chia will be shutting down criticism that spreading around Bitcoin for consuming huge amount of fossil fuel with use of coal for Crypto mining. Proof of Space algorithm will be key innovation that completely terminate use of graphic card, electricity, coal and other fossil fuel.