Chia (XCH)
Basics
- Based in: San Francisco
- Started in / Announced on:
- Testnet release:
- Mainnet release: Is scheduled (5-3-2020) for launch sometime before 2021. Went live in 3-2021.
- Smart contracts and wallet recovery options.
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
- Bug bounty program can be found [insert here].
Bugs/Exploits
- From Blockthreat (26-7-2022):
"Chia Network reissues asset tokens and requests users to upgrade in response to a critical vulnerability discovered by Trail of Bits."
- From Blockthreat (14-11-2021):
"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
- From The Defiant (18-5-2021):
"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
- Other L1 smart contract platforms.
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
- Bram Cohen; CEO
- Co-founder Ryan Singer has stepped away (17-6-2019) from the company to focus on family priorities.
- Jill Carson; on the board (23-6-2021).
- Elizabeth Stark; advisor (12-2022)
- From CoinDesk (14-7-2021):
"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
- Is a sponsor of Coin Center (as of 6-2019), where Elizabeth Stark is also a fellow.
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