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What is Chia Network coin (XCH) and how does it work?

by Financial Economy

Chia Network was created in 2017 by Bram Cohen, the programmer of the BitTorrent protocol. The open-source project, which received a valuation of $ 500 million in its last investment round, has recently started to attract widespread attention. Detailed information about what is Chia Network coin XCH, how does it work, how much it costs, how to buy, etc. is in the continuation of the content. You can browse here for information about Band Protocol coin (BAND).

What is Chia Network coin (XCH) and how does it work?

Chia Network (XCH) Coin is the native cryptocurrency of the Chia Network network, which uses disk space instead of the resource computing partition. Unlike Bitcoin, proofs of work are not used within the Chia Network. Chia Network is a blockchain network that maintains transactions over proofs of time. XCH Coin is a crypto money project that is powered by hard disks instead of graphics cards and makes nature-friendly transactions. XCH Coin is also a governance-based coin that gives Home-Chia Network users the right to vote.

The aim of the Chia Network (XCH) Coin project is to create a green cryptocurrency. On the other hand, for the first time after BTC, the Nakamato consensus algorithm is intended to be used in another altcoin. A brand new recording system has been developed by combining this algorithm with the new generation Proof of Space model instead of Pos.

How to buy Chia Network coin (XCH)? How much is XCH coin price?

XCH coin can be purchased from listed cryptocurrency exchanges. But it is necessary to make sure that the exchange is “reliable and well-known”. As of September 8, 2021, the price of 1 XCH coin is around $209.91. The circulating supply of XCH is 1,582,223.00 units, and the total supply is 22,582,025 units.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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