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Presentazione su Chia Network

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Riassunto Slide (in lingua inglese):

Chia is a decentralized, sustainable, and secure layer-1 blockchain that operates on a unique consensus model based on Proof of Space and Time (PoST) 

Unlike traditional consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS), Chia’s PoST relies on individual nodes allocating a certain amount of computer hard drive space for a certain period of time to validate blocks. This process, known as “farming,” is more energy-efficient and accessible to home users compared to all the PoW and some of the main PoS blockchains.

Chia Farming explained in brief:

  • Farmers create plot files, which are chunks of 100s of GB filled with computed cryptographic hashes.
  • When the blockchain broadcasts a challenge for the next block, farmers scan their plots to see if they have the hash that is closest to solving the challenge.
  • Timelords, who are responsible for validating the proof of the block, ensure that a new block is created only after 19 seconds and release the next challenge to the network

ChiaLisp

ChiaLisp is a Lisp-like programming language used to develop smart contracts on the Chia blockchain.

It is functional and executed on a sandboxed virtual machine called CLVM. Every operation has a fee to be paid in mojos, with 1 XCH equaling 1,000,000,000,000 mojos.

ChiaLisp is functional, and everything of it is a list, making it an old-style code that is not particularly user-friendly for many developers1.Smart contracts in ChiaLisp are equivalent to Solidity in the Ethereum blockchain.

In conclusion, Chia’s PoST consensus model, accessibility for home users, and sustainable approach to blockchain technology make it an interesting alternative to traditional PoW and PoS blockchains. However, there is room for improvement in terms of scalability* and user-friendliness for developers.

*scalability lacks, with only 40 transactions per second (TPS)

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