The current price of Chia is $12.7900. Since 00:00 UTC, Chia has increased by +2.90%. It currently has a circulating supply of 14,372,999 XCH and a maximum supply of 32,729,028 XCH, giving it a fully diluted market cap of $183.97M. At present, the Chia coin holds the 124 position in market cap rankings. The Chia/USD price is updated in real-time.
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Chia Network is an eco-friendly blockchain platform that is considered to be among the most decentralized blockchains. With hundreds of thousands of nodes, each carrying a copy of the blockchain's ledger, the network allows for quick propagation of information.
Its smart transaction model uses a simple yet powerful higher-level and innovative programming language called Chialisp in combination with a lower-level language called CLVM (ChiaLisp Virtual Machine). This simple model patronizes the writing of high-value and secure contracts.
The Chia blockchain follows a coin set model to keep track of the network's state. Each coin on the Chia network is locked with a Chialisp program and hashed to provide strong security to the blockchain. The Chia blockchain's major functions include processing financial transactions, running programs written in Chialisp, and minting tokens from XCH.
Chia uses the first and only Nakamoto consensus algorithm since Bitcoin, called Proof of Space Time (PoST), to validate transactions and store them in blocks. The PoST consensus is highly energy efficient and consumes low energy when compared to the Proof of Work (PoW) consensus.
XCH is the native currency of the Chia blockchain. It is a programmable currency that seeks to improve institutions and governments through financial innovations, increase the ease of cross-border payments, and design a new decentralized future.
XCH price and tokenomics
About 8 million XCH tokens are in circulation out of over 26 million existing tokens. XCH has no maximum supply, meaning an unlimited number of tokens can be created.
The considerable difference between the number of circulating and existing tokens can be explained by a substantial amount of them held in reserve by Chia Network Inc. Chia traders may redeem a portion of this reserve under pre-specified circumstances. Besides that, the funds in reserve are to be used in various ways, such as by rewarding Chia farmers (miners) with XCH tokens, providing grants to developers, buying back shares when they finally go public, and paying shareholder dividends.
Like Bitcoin, XCH follows a block reward halving schedule — the number of token rewards for successful miners halves over time. In Chia's case, block rewards began at 2 XCH and will be halved every three years until 2034.
About the founders
Chia was created by American computer programmer Bram Cohen, who also created the BitTorrent protocol — a communication protocol for peer-to-peer file sharing over the internet that is used globally.
Cohen intended to create Chia to provide a much less energy-intensive alternative to Proof of Work (PoW) and Proof of Stake (PoS) blockchains. He hoped that by eliminating the power consumption and centralization problems they pose, he could help make blockchain technology more environmentally friendly and sustainable.
Gene Hoffman was an advisor on the board of Chia Network before he took up the position of Director and COO of Chia alongside Cohen.
Chia highlights
World Bank climate warehouse development
Chia Network Inc. announced in late 2021 that it had been chosen to create a data-sharing prototype for the World Bank's Climate warehouse. The World Bank's climate warehouse, part of the World Bank's Carbon Markets and Innovation unit, was established to help countries meet pre-set carbon emission targets.
Helping the Costa Rican government track climate change
The Costa Rican government collaborated with Chia in late 2021 to create a platform to help it better manage its "climate inventory." Other countries will be able to use the platform for free. This collaboration was a significant step forward for Chia in pursuing more environmentally sustainable decentralized blockchain platforms.
Chia introduces the NFT1 Mainnet Standard
The NFT0 Beta Standard, released in May 2022, laid down Chia's vision for the future of non-fungible tokens (NFTs). By leveraging its sustainable, inclusive, and compliant blockchain, Chia seeks to improve the pain points of the NFT industry. The NFT1 Standard offers expanded functionality and scalability to drive digital ownership and enlarge NFTs' new use cases.
The NFT1 Standard allows creators and owners to tie their identity to the NFT and transaction history to establish the origin and source of the digital asset. It eliminates counterparty risk through its Chia Offers. Supporting multiple sources and cryptographic hash makes for easy publication and storage of the NFT digital files.
Chia makes it to Nasdaq's list of 15 environmentally sustainable cryptocurrencies to buy
Compared to the mining process used by PoW blockchains such as Bitcoin, Chia's hard drive-based farming process consumes less energy. As a result, Chia provides Bitcoin's security while consuming only 0.16% and 0.36% of Bitcoin's and Ethereum's annual energy consumption, respectively.
Additionally, with its circular drive initiative announced in 2021, Chia aims to reduce e-waste by promoting and enabling the secure reuse of storage hardware instead of shredding and disposing of used drives.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 2K new posts about Chia, driven by 603 contributors, and total online engagement reached 5.4M social interactions. The sentiment score for Chia currently stands at 84%. Compared to all cryptocurrencies, post volume for Chia currently ranks at 2399. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Chia.
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Posts
2,043
Contributors
603
Interactions
5,440,485
Sentiment
84%
Volume rank
#2399
X
Posts
582
Interactions
462,510
Sentiment
75%
Chia FAQ
What is Chia?
Chia Network is a blockchain protocol that aims to facilitate the use of blockchains in a more sustainable and environmentally-friendly manner. It utilizes unused storage space rather than computing power to secure its network.
What is Chia Offers?
Chia Offers enable decentralized, peer-to-peer trading of assets on the Chia blockchain with no counterparty risk. Offers allow the seamless creation and acceptance of trade offers between buyers and sellers from the privacy of their Chia Wallet. This allows users to retain self-custody of their private keys and coins.
Where can I buy XCH?
Easily buy XCH tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include XCH/USDT and XCH/BTC.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into XCH, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
How much is 1 Chia worth today?
Currently, one Chia is worth $12.7900. For answers and insight into Chia's price action, you're in the right place. Explore the latest Chia charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Chia, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Chia have been created as well.
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