Chia Coin breaks trends with unique technology. Mining is possible at the expense of disk space, and not the computing power of devices. It is worth discussing in more detail.
Mid-April 2021 was a moment of widespread interest in the Chia Coin cryptocurrency. The main interest is a non-standard mining method. Anyone who has free hard disk space can mine Chia Coin. Tons of powerful equipment and energy are not needed here.
How did the surge in popularity begin? Bram Cohen is the face of the company and the person who developed the BitTorrent protocol. This is sufficient for widespread interest. In addition, the project has already proven its survivability in the past period of stagnation of cryptocurrencies.
Chia Coin was listed on April 20, 2021. The platform for this was the HotBit crypto exchange. During the day, quotes fell from $ 5,000 to $ 1,600. On April 28, the price is just over $ 1,000.
Low entry threshold
In addition to the high cost of traditional mining tools (few people are able to buy the minimum ASIC kit), the user must have a strong theoretical and practical knowledge base and skills. A skilled miner knows a niche from A to Z, knows how to overclock equipment and maneuver between different cryptocurrencies to get the maximum benefit.
What you need to get started with Chia Coin. A 1 TB hard drive is all you need to get started. This cryptocurrency has not yet become a pervasive trend, so hard drives are not overpriced now like gaming video cards. China is only just facing the first signs of the problem of rising prices for this type of device, and this will reach the rest of the world. The scarcity has already tripled the prices of hard drives in Hong Kong. But, in general, now each miner can count on high liquidity and an elementary entry threshold. Everyone can try.
Safe storage trend
The interest in Chia Coin is a consequence of the crypto market growth in 2021. Each new interesting project is able to attract attention today if it is related with the decentralization of the file system. It should allow you to store data without risks due to the NFT boom. Every NFT purchased requires a secure storage facility.
Promoting Chia Coin can be a big game for a component manufacturer to get the hype and benefit on an individual basis. The main question for Chia Coin is the unfulfilled promise of the developers related to the implementation of two algorithms. In addition, at the moment, mining on SSD and HDD is no different from each other, which raises additional questions.