Chia (XCH)
Rank #674
Market snapshot
- Price
- $1.56
- Market cap
- $22.5M
- 24h volume
- $650,466.74
- Circulating supply
- 14,411,726
- Total supply
- 33,191,992
- Max supply
- N/A
What is Chia?
Chia is a cryptocurrency that focuses on providing a disciplined approach to blockchain technology. It aims to deliver on the potential of blockchains, cryptocurrency, and the Internet of Markets™. The Chia Network utilizes a unique blockchain infrastructure to support its operations and ensure regulatory compliance.
How Chia works
Chia operates through a mining process that allows users to generate XCH. The network leverages a proprietary consensus mechanism called Proof of Space Time (PoST), which reduces energy requirements compared to traditional Proof of Work systems. This mechanism enhances the overall security of the blockchain and fortifies it against attacks. The Chia blockchain is designed to maintain data integrity and auditable provenance of assets, ensuring authenticity throughout its operations.
Key information
- Symbol
- XCH
- CMC rank
- #674
- Network / platforms
- N/A
- Categories
- Mineable
- Date added
- Apr 16, 2021
Key characteristics
Chia is categorized as a mineable cryptocurrency and operates on a layer-1 blockchain. It is designed to be regulatory compliant globally, recognizing the importance of adhering to financial regulations. The network remains decentralized, enhancing security and resilience against manipulation. Chia also introduces Chialisp, a native programming language focused on security and auditability.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Chia (XCH)?
- Chia (XCH) is a cryptocurrency that aims to create a decentralized and regulatory-compliant blockchain infrastructure, enhancing the potential of blockchain technology and the Internet of Markets™.
- How does Chia work?
- Chia operates through mining, allowing users to generate XCH. It utilizes a unique consensus mechanism called Proof of Space Time (PoST), which reduces energy requirements compared to traditional Proof of Work systems.
- What are the key features of Chia?
- Chia is categorized as a mineable cryptocurrency on a layer-1 blockchain. It emphasizes regulatory compliance and decentralization, enhancing security and resilience.
- What are the risks associated with Chia?
- Digital asset prices can be volatile. Users should ensure secure handling of private keys and verify transfer details to mitigate risks.
- How can I safely acquire Chia (XCH)?
- Verify the asset name, network, and destination details before transferring. Ensure the custody method is secure and understand the irreversibility of transfers.
- Where can I find official resources for Chia?
- Official resources for Chia can be found on their website at https://www.chia.net/.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
