New Cryptocurrency Chia Aims to Rival Bitcoin With Sustainability

Cohen’s Chia Network calls this process “farming” instead of mining, and states that the model it uses instead is ‘proof of space and time’, instead of energy. In simpler terms, the Chia Network states that instead of high performance graphics cards and processors, Chia will use available empty disc space for farming of the currency. As a result, users need to show that they are assigning chunks of their storage space over a continued span of time, which can be done even with a fairly regular computer configuration. Given that this would cost any average crypto enthusiast much lesser, Chia is simply a more viable currency in comparison to Bitcoin and Ethereum.

To make things more exciting, Amazon has now announced that Chia can be mined directly on the Amazon Web Services (AWS) cloud servers. According to reports that archived a now-deleted AWS China explainer page, integrating the Chia Network architecture on AWS reportedly takes “as little as five minutes”, following which users can generate their crypto wallet address where the mined or “farmed” Chia coins are to be credited, and start with it. Such flexibility also means that not only is Chia locked to a particular device, but is also largely flexible and possible to mine without lots of hardware resources at hand.