Chia (cryptocurrency)

Chia is a cryptocurrency where mining (or farming, in Chia parlance) is based on the amount of hard disk storage space devoted to it rather than processing power as with proof of work cryptocurrencies such as Bitcoin. The platform was created by a California based company called Chia Network Inc. The Chia Network was founded in 2017 by American computer programmer Bram Cohen, the author of the BitTorrent protocol. In May 2021, Chia Network raised a $61 million investment, valuing the company at about $500 million. The same month, the company announced plans to conduct an IPO before the end of 2021. As of 2023, Chia had filed a draft registration with the Securities and Exchange Commission towards an IPO.