Chia is delivering critical security and compliance needed to enable safer and easier peer-to-peer transactions. With Offers, two people can propose and complete a trade wherein neither side can cheat or need an escrow. From empowering new users, to seamlessly enter the Chia DeFi ecosystem, to granting farmers and investors more agency, the benefits of stablecoins and DEXs on Chia’s blockchain are setting the standard for how crypto should work.
“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,” - Andrea Meza Murillo, Minister of Environment and Energy of Costa Rica
Founded by Bram Cohen, the inventor of BitTorrent, Chia is a next-generation, open source blockchain that has been built from the ground up to meet the needs of the future of interconnected markets. Building on the benefits of existing technologies that are secure and public, we extended them and added sustainability, compliance and programmability while enhancing security.
Chia is the most decentralized blockchain ever with approximately 350,000 nodes employing the first new Nakamoto Consensus since 2009. The Chialisp on chain programming environment is fully featured while being far more auditable, and secure.
Chia believes that in order to deliver on the promise of the next generation blockchains, we must be regulatory compliant. It is our stated goal to become a public reporting company subject to the Securities Act of 1933. Chia's native currency, XCH or chia, has never been sold by Chia Network for money and we believe it will be regulated as a commodity by the CFTC.
With its innovative Proof Of Space and Time consensus, Chia uses 0.16% of the annual energy consumption of Bitcoin, and 0.36% of Ethereum. Chia is part of the Circular Drive Initiative that reduces e-waste through the secure reuse of storage, promoting the second use of hard drives for Chia farming.