Chia Network ICO Review

Chia Network

Green money for a digital world. (FULL METRICS NOT AVAILABLE)

Chia Network Score



Chia is a pre-launch digital currency & blockchain that relies upon proofs of space & proofs of time instead of traditional proofs of work. Chia “farms” via unused storage space that is allocated by “farmers” who will receive Chia coins for solving a block challenge as a consensus mechanism. Chia “farming” uses proof of space, co-ordinated with another consensus algorithm, proof of time, to mitigate known attacks on previous proof of space.

LINKS

WEBSITE WHITEPAPERS

SOCIAL MEDIA

REVIEW VIDEO

TOKEN SALES

METRICS

Green lights

  • Farming/Mining uses less energy therefore more cost effective and more environmentally friendly.
  • CTO Bram Cohen famously invented BitTorrent.
  • Open sourced BLS Signature library that is available, as well as a working VDF
  • Everything is BLS signatures for better smart transaction support.
  • Chia Network will be a Bitcoin rival, potential killer.

red flags

  • No White Paper available yet.
  • Huge hard-cap for public-sale – $50 million (rumoured) 
  • No Telegram group for community, but a keybase group
  • Not a complete team yet, still looking for key members, software engineers etc

Chia Network
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Unknown

Unknown

– No Proof of Advisors on the website.

TEAM SCORE

Unknown

High

– Bram Cohen (CTO) invented BitTorrent – the first modern decentralised network protocol & one of the inspirations for the Bitcoin Protocol.

HYPE SCORE

Unknown

Low

– Still early stages so there is a lack of community support, could do with a Telegram group, although there is a Google Groups forum.

TOKEN SCORE

Unknown

UNKNOWN

– $50 million hard-cap for Public-Sale is rumoured.

CONCLUSION

Chia Network is a San Francisco based company focused on improving cryptocurrency infrastructure. Their now CTO, Bram Cohen, famously invented BitTorrent: the first modern decentralised network protocol and one of the inspirations for the Bitcoin protocol. Their team has experience across the crypto finance sectors, coming from Tradehill, CryptoCorp & Lightning Labs. Chia is farmed with storage space like hard drives instead of mining with processing power. This allows broader access to everyday users, and vastly reduces the cost/waste of securing the network in electricity burned or custom hardware consumed. Chia is resistant to farmer centralisation. The goal is to make hard forks effectively impossible, so governance will come from user choice and bitcoin-like decentralised incentives. ICO is still in early days, we look forward to following their progress.

2.2

ADVISOR

8.7

TEAM

3.4

HYPE

5

TOKEN

payment

CATEGORY

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