The first Chia-based transaction took place on May 3, 2021. This novel coin presents a more sustainable alternative to BTC, as miners need less power. The founders expect a quick widespread adoption of their token. Here is a look at XCN’s value and dynamics at the moment.
This ‘green’ cryptocurrency network was launched by Bram Cohen, who also co-founded BitTorrent. The developers aimed to make farming more efficient and lightweight. The coin is being watched by many ESG investors, as the focus has been shifted to sustainable alternatives. Follow detailed Chia network statistics in real-time — this instrument could spur a revolution.
What Is Chia?
Instead of the Proof of Work protocol used by Bitcoin, this blockchain relies on Proof of Space. Farmers utilize their unused storage space as the key resource. This requires less processing power, and the computers may even run other operations in parallel.
The second major component is proof of time. Validation of transactions is performed using VDF (Verifiable delay functions). The rules of the system require a certain sequence of steps, and the output can be verified by the public.
Essentially, the network offers energy-efficient “farming” at home. It is based on the Lisp language, where all components of the blockchain become coins. Chia uses smart contracts and transactions. It may be implemented in payment systems, banking, global exchanges, and other spheres.
XCH Price and Liquidity Live Statistics
- XCH has achieved a market capitalization of $532.13 million.
- There are 697,126 coins in circulation, which is 3.2% of the total volume.
- The total supply is 21,697,040.
- The lowest price was observed on May 6th, 2021 ($558).
- The highest price was reached on May 15, 2021 ($1 645).
- As of this writing, XCN is trading at $763, which is -53.6% below the all-time peak and 36.8% above the all-time low.
- The largest volume of trading in the past 24 hours was observed on the HUOBI exchange, where Chia is traded against Tether. There, over $7.09 million worth of Chia has been traded over the period. The exchange also has the highest liquidity of XCN (328.67 K).
- The second-largest exchange by volume is OKEX, where it has reached $6.63 million in the past 24 hours.
- The highest price of Chia is recorded at BIBOX ($769.40).
- The top 3 exchanges with the largest liquidity of XCN are HUOBI, GATE, and OKEX.
The volumes of trading against Bitcoin are generally lower. On the largest platform (HUOBI), just $1.10 million worth of Chia has been traded in the past 24 hours, with the liquidity of $74.91 K.
These are the main statistics so far. They show that Chia is a new coin with strong potential. Clearly, the current interest in eco-friendly farming is contributing to its rise.