Category: Chia.net

Congratulations to Sundersoft for winning both tracks of the second Chia VDF competition and earning $100,000! We had four entries that all made large improvements in the speed of the VDF algorithm in both contest tracks compared to our in house reference implementation. Note that these timings are for 4x the iterations and on slightly…

Following the release of our green paper and the launch of our Proof of Space competition Chia has received lots of positive attention from media outlets including Venture Beat and Yahoo Finance and the community at large. Decrypt Media, an independent website dedicated to cryptocurrency news, reached out to interview Bram Cohen, founder and CTO of Chia. They were interested…

We’re excited to announce Chia’s Proof of Space competition. In Chia’s Proof of Space, rewards are given to farmers that can prove that they are allocating a portion of their disk space to farming Chia. In order to be used as a consensus method, Proof of Space is tied to Proof of Time. An open…

A few months ago we wrapped up our initial VDF implementation competition and were amazed by the excellent quality of the submissions. The top three contenders each came in at under one minute (the reference implementation was 169 seconds). Five other teams also submitted implementations which were faster than the reference. All of the submissions…

Decentralized, digital currencies will soon evolve from being a futuristic concept to a mainstream reality. They’ll offer liquidity to those who live in countries with poorly run or corrupt central banks, and offer a universal currency for streamlined financial transfers. Currency not tied to the banking system is an idea whose time has come. But…

Thank you to everyone who participated in the first round of Chia Network’s Verifiable Delay Function (VDF) competition. The round concluded on January 3rd, 2019 with many excellent submissions from the participants. The quality of the entries exceeded our expectations, and we’re happy that the competition format proved successful. The teams used a variety of…

Chia Network recently launched a three month long competition to create faster implementations of our proofs of time and get a better handle on its security requirements. The Verifiable Delay Function Competition (VDF, aka proof of time) is open to anyone, has $100,000 in total prize money, and is running until January 3rd, 2019. In…

A recent podcast speculated quite a bit about the economics of Chia Network’s new proof of space and time consensus algorithm. Let’s discuss the assertion that there are optimizations in storage technology allow for the creation of specialized Chia farming hardware that costs an order of magnitude less than commodity disks. Even if it were possible to…