Chia is one of the newest additions to cryptocurrencies on the internet. Bram Cohen, who also happens to be the founder of BitTorrent, has created this new form of cryptocurrency. It has caught the attention of bigger investors and personal finance watchers in the crypto trade space, and they have already started investing heavily in it. This cryptocurrency is a viable option than their established counterparts like Bitcoin, Ethereum, and even Dogecoin, as it does not require proof of work to be able to mine these cryptocurrencies. The well-known and high-value cryptocurrencies have a basic requirement that an investor must have high-performance computers that can withstand long and intensive hours to be able to mine these new-age currencies.
Unlike other cryptocurrencies, Chia is the only currency in which the process of gaining access to the currency is termed farming. Amazon has recently announced that Chia farming can directly be done on their AWS cloud servers depicting the reliability and longevity of the currency and an assurance that it will hold its value very well. This means that Chia farming can also be done on low spec hardware and is locked on a device.
There have been various reports of people stacking and selling graphics cards for way higher price that has resulted in a shortage of chips globally. The blame of sudden rise in demand for performance chipsets is being made on the Cryptocurrency mining community. Chia farming eliminates the demand for high-performance drivers and hardware and can be accessed easily with any low-end consumer device as well.
Chia is one of the most sustainable cryptocurrencies that can be farmed. It requires as little as a fraction of their high-value counterparts like Bitcoin and ethereum. This means that Chia farming is not only cheaper and in reach for anyone wanting to get into crypto trades but also a sustainable and reliable investment as it continues to grow over time. It will reportedly grow in value up to 55% by the end of 2021, thus making it a preferred choice of crypto traders across the globe who are looking for sustainable investment.
The biggest advantage Chia has over other cryptocurrencies is the requirement of disk space. Its biggest resource pull would be hard drives and SSDs. Though, it is still to be seen how this factors in favor of Chia in the long run as it is a relatively new form of cryptocurrency yet to stand the test of time.