In 2017, Chia Coin was created by the founder of Chia Network, Bram Cohen. His goal? He wanted a superior cryptocurrency that is easier and safer for everyone. With a digital currency that is easier to earn hard to steal, and more flexible, his goal of revolutionizing digital currencies in everyday affairs is close. Even though the groundwork was laid more than in 2015, it was not until the first quarter of 2021 that it became a reality
There are tons of questions many investors ask about Chia Coin. For others, they just want to satisfy their curiosity. In this article, we’ll find answers to these questions as well as what to expect from Chia Coin in coming months/years.
The main difference is in how Chia Coin is earned. With other digital currencies, mining depends on a user’s computational power and time. Once they can solve mathematical equations, they earn new coins.
Chia Coin’s mining depends on a connected user’s hard disk size. Once a user ascertains they have unused storage space on their computer, they can load this available space with digits that often result in new blocks. Since hard drives are used instead of CPUs, the process is called farming instead of mining.
To farm new Chia Coins, the following two steps must is necessary:
In general, with fewer resources, everyone can earn new Chia Cryptocurrencies. Instead of using proof-of-work, it uses proof-of-space and time.
Visit Chia’s official website to download Chia blockchain software. Once downloaded, create a Chia wallet to either store your coin or start any form of transaction on the network.
Chia Coin was officially released in May 2021 to make digital currency accessible to everyone even if they have limited resources. It was stated that it Chia Coin is environmentally safe because Chia’s network is energy-efficient. The hardware used in ‘farming’ new Chia Coins will also support a single-use.
At the moment, a Chia Coin is worth $210.71. Its current market capitalization is $247,945,712 with a 24-hour trading volume of $9,496,511.
As with other cryptocurrencies, buy Chia Coins through any good exchange platform. If you already have a trusted exchange platform, buying some shouldn’t pose any challenge. On the web page, enter your debit card details to initiate buy the digital currencies. Some exchange platforms may allow trading other digital currencies for Chia Coin. Selling Chia Coins is also done on the same platform.
As a general rule, the best time to buy is when there is a dip in price while it is best to cash-out on Chia Coin when the price goes up.
30 days after Chia Coin was launched, it raised more than $60 million in investment. Such an amazing return can only point to a promising digital currency. Investors predict that the price of Chia Coin will increase by almost 60% in the next five years. Beyond that, the trend will only continue in the same positive direction. Investors who decide to buy or sell cryptocurrencies like Chia Coin are in for a great return on investments.
While many investors are crazy about Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies, Chia network has seen a sharp rise in number of users over the past 6 months. I know you’re wondering why! This trend has become the norm for a number of reasons.
The Proof-of-space versus the Proof-of-work comparison has been a major factor. Miners desire something new, they way to harness under-utilized resources like storage space, or maybe they are just tired of runing various long calculations for new coins.
Whatever the case is, Jason Feist’s comments holds true that “ the way that the execution happens in the consensus algorithm is now not based on a work calculation, but instead based on space and time calculation.”
One challenge faced is a potential running out of hard drives, as experieced across Asia few months back, when miners plunged to the market in search of large capacity storage spaces. As we all know, the greater the demand for a product, prices are expected to skyrocket.
We are excited to announce the return of PrimePool, in partnership with Huobi! For now, users can lock their HT tokens for any length of time before the event ends to earn a reward of up to 1,208,898 KRRX tokens.
The event will run from 12:00 UTC on January 18, 2022, to 12:00 UTC on January 25, 2022, so make sure to participate before the event ends.
Specifically, you can lock any number of HT tokens from 100 units and receive an additional reward in KRRX tokens for doing so (the reward is calculated according to a formula that you can find on the event page at the link below).
This is a great opportunity for users to experience the upgraded PrimePool and win grand rewards. With simple rules, this event is open to all!
To join the event, all you need to do is visit the link provided and follow a few steps.
Your Kyrrex Team 💚
We are happy to announce that Huobi, one of the biggest and most reputable cryptocurrency exchanges in the world, has listed the KRRX token!
Huobi has already enabled deposits for KRRX holders. You can start making KRRX deposits right now!
KRRX spot trading (KRRX/USDT) will open when the deposit volume meets the requirements for market trading on Huobi. Once the trading volume threshold has been met the commencement date of KRRX/USDT spot trading will be officially announced.
KRRX withdrawals will open at 12:30 (UTC) on January 18
The KRRX token provides a seamless way to interact with services and features on the Kyrrex network. All KRRX holders are entitled to discounted fees, staking benefits, and other special advantages.
KRRX is connected to many inner projects as well as linked to numerous initiatives, including significant partnerships in the sports industry. Currently, Kyrrex intends to expand agreements with MotoGP rider Jorge Martin, Moto2 young talent Pedro Acosta, and paddle athlete Martin Di Nenno.
Moreover, will launch Kyrrex Sport soon. A marketplace for potential athletes' image rights that are represented by fungible tokens (not NFTs) as well as an NFT marketplace for their personal collections.
This listing is a major milestone for Kyrrex as the company aims to make the KRRX token more accessible to users around the world. We are confident that Huobi's high liquidity and solid reputation would be extremely beneficial to our users.
To further improve the Kyrrex ecosystem, we will continue to reinforce existing collaborations and explore new strategic partnerships with industry stakeholders.
Your Kyrrex 💚
The tournament offers a massive prize pool of 50,000 KRRX and guaranteed payouts for 500 winners, providing all participants with the opportunity to come out on top.
The tournament will run from January 17th to February 1st, giving participants ample time to demonstrate their trading strategies and compete for the top prizes.
Don't miss out on this exciting opportunity to win big and register for the tournament today!
1️⃣ Register on the Lot.Trade;
2️⃣ Create a new account on huobi.com;
3️⃣ Create an API key on the Huobi exchange and connect it to your Lot.Trade Personal Account;
4️⃣ Achieve a trading volume of at least 150 KRRX within 24 hours after registration;
5️⃣ Actively trade KRRX from the created profile on Huobi throughout the tournament, until its completion on 01.02.2023;
6️⃣ Wait for the results and get the desired prize
The first 1500 users who successfully complete the registration and trading conditions within 2 days after the tournament begins, will receive a bonus of $10. This is a limited offer, so don't miss out on this bonus opportunity.
So, are you ready to join the Kyrrex and Huobi crypto communities and compete for a prize pool of 50,000 KRRX and guaranteed payouts for 500 winners? Then fulfill the registration and trading conditions now and join our exciting crypto tournament.
Your Kyrrex 💚