Chia Network was founded in 2017 by Bram Cohen Gene Hoffman, and Ryan Singer. It has its headquarter in San Francisco, United States.
Chia is a new type of cryptocurrency that is based on the capacity of pre-stored random-looking data that the user creates and stores in files called plots. With Chia a very low resource-intensive process checks plot files for proof of space and time. This makes Chia very fast and green. It is an improvement over proof of work blockchains, which rely on fast graphic cards and custom machines doing millions of calculations per second and wasting a lot of electricity. Chia also has many improvements to scripting, scripting environment, cryptography, usability, and scalability, and aims to be a simple, secure, and powerful blockchain.
“The Government of Costa Rica selected Chia as an open-source partner due to both its technical software and open-source expertise, but also the platform’s commitment to secure, sustainable, inclusive blockchain technology and immutable data storage,” said Andrea Meza Murillo, Minister of Environment and Energy of Costa Rica. “This is a critical step toward robust, transparent cooperation on climate action focused on environmental integrity.”
The mission of Chia Network is to improve upon Bitcoin's many pioneering ideas in the fields of cryptography and digital currencies, while maintaining the same overall purpose and philosophy.
Why Chia Network?
Chia was designed from the ground up to make cryptocurrency easier to use -- and harder to lose -- than cash. Chia Network is authentically secure, sustainable and compliant.
Chia Network has raised a total of $69.7M in funding over 5 rounds and is funded by 17 investors.
Below, are the details of the different rounds of funding received by Chia Network.
Number of Investors
Andreessen Horowitz Richmond Global Ventures
Pre Seed Round
Chia Network has made no acquisitions yet.
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