Difference between revisions of "Chia (XCH)"

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===Bugs/Exploits===
===Bugs/Exploits===


* [https://www.blockthreat.io/p/blockthreat-week-44-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJfIjoiM20zb2oiLCJpYXQiOjE2MzY5NTg1ODksImV4cCI6MTYzNjk2MjE4OSwiaXNzIjoicHViLTgxMDUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.k81VJRWLSSxyPTUBrXoaMnuqzEpb4phDxzYoz_ah1Ig From] [[Blockthreat]] (14-11-2021):
* [https://www.blockthreat.io/p/blockthreat-week-44-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJfIjoiM20zb2oiLCJpYXQiOjE2MzY5NTg1ODksImV4cCI6MTYzNjk2MjE4OSwiaXNzIjoicHViLTgxMDUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.k81VJRWLSSxyPTUBrXoaMnuqzEpb4phDxzYoz_ah1Ig From] [[Blockthreat]] (26-7-2022):
''"Chia Network reissues asset tokens and requests users to upgrade in response to a [https://www.chia.net/2022/07/25/upgrading-the-cat-standard.en.html critical vulnerability] discovered by [[Trail of Bits]]."''
*[https://www.blockthreat.io/p/blockthreat-week-44-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJfIjoiM20zb2oiLCJpYXQiOjE2MzY5NTg1ODksImV4cCI6MTYzNjk2MjE4OSwiaXNzIjoicHViLTgxMDUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.k81VJRWLSSxyPTUBrXoaMnuqzEpb4phDxzYoz_ah1Ig From] [[Blockthreat]] (14-11-2021):


''"On October 30, 2021 Chia Network [https://github.com/Chia-Network/chia-blockchain/discussions/9049 experienced] a [[Denial-of-Service attack (DoS attack)|Denial of Service attack]] after [https://thechiaplot.net/2021/11/03/interview-with-the-chia-dust-stormer/ a single operator] flooded the network with small transactions. This resulted in a number of nodes getting overwhelmed and delaying legitimate transactions from reaching the network."''
''"On October 30, 2021 Chia Network [https://github.com/Chia-Network/chia-blockchain/discussions/9049 experienced] a [[Denial-of-Service attack (DoS attack)|Denial of Service attack]] after [https://thechiaplot.net/2021/11/03/interview-with-the-chia-dust-stormer/ a single operator] flooded the network with small transactions. This resulted in a number of nodes getting overwhelmed and delaying legitimate transactions from reaching the network."''

Revision as of 09:36, 1 August 2022

Basics

History

  • In August 2017, Bram Cohen left BitTorrent to found Chia, an alternative to bitcoin created to be a less energy-intensive cryptocurrency.

Audits & Exploits

Bugs/Exploits

"Chia Network reissues asset tokens and requests users to upgrade in response to a critical vulnerability discovered by Trail of Bits."

"On October 30, 2021 Chia Network experienced a Denial of Service attack after a single operator flooded the network with small transactions. This resulted in a number of nodes getting overwhelmed and delaying legitimate transactions from reaching the network."

Governance

Admin Key

DAO

Treasury

Token

Launch

Token Allocation

  • Had a big premine (~50%). Has indefinite inflation similar as bitcoin but stays consistent after the 5th halving.

Utility

  • Only a utility coin. With potential buy backs in the backs.

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper can be found here (9-2-2021).
  • Code can be viewed [insert here].
  • Programming language used:

Transaction Details

How it works

"The consensus algorithm is called proof of space and time."

Fees

Upgrades

Staking

"Cohen said the Chia ecosystem won’t be based on Eth 2.0’s upcoming proof-of-stake (PoS) model, which he sees as fundamentally centralized."

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

  • Is really focused on being compliant with their recovery setups.

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partners

Team

  • Full team can be found [here].

"Has added five executives across multiple divisions, including sales, product development and professional services, and has nearly doubled its workforce since closing its last venture round in early May. The hirings reflect Chia’s promise to spend a good portion of the $61 million it raised in its recent Series D capital round that was led by Andreessen Horowitz (a16z) and Richmond Global Ventures. Chia now has 40 employees, including the latest newcomers, up from 21 on May 3, the day Chia closed its funding. Hoffman expects to add another 30 people by year’s end, about half in research and development and the remainder in “various business roles.” Cohen has for years made clear his intent to take Chia public."

Funding

  • From CoinDesk (19-6-2019):

"According to Crunchbase, Greylock Partners, Naval Ravikant and Andreessen Horowitz have all backed the young company, which has raised $3.4 million so far."

  • Raised $61M in early 2021.

Partners

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