How to Farm Chia Coin, the New Storage-Based Cryptocurrency

The new Chia cryptocurrency has already started making waves in the storage industry, as we’ve reported back in April. With Chia trading now live, it looks set to become even more interesting in the coming months. The total netspace for Chia has already eclipsed 2 exabytes, and it’s well on its way to double- and probably even triple-digit EiB levels if current trends continue. If you’re looking to join the latest crypto-bandwagon, here’s how to get started farming Chia coin.

First, if you’ve dabbled in other cryptocurrencies before, Chia is a very different beast. Some of the fundamental blockchain concepts aren’t radically different from what’s going before, but Chia coin ditches the Proof of Work algorithm for securing the blockchain and instead implements Proof of Space — technically Proof of Time and Space, but the latter appears to be the more pertinent factor. Rather than mining coins by dedicating large amounts of processing power to the task, Chia simply requires storage plots — but these plots need to be filled with the correct data.