Cryptocurrency Q&A
How does the chia farm work?
How does the chia farm work?
BusanBeauty
Wed Nov 27 2024
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6 answers
1204
Chia farm works by utilizing idle hard drive space for farming. It employs a novel consensus mechanism combining Proof of Space (PoSpace) and Proof of Time (PoTime). Farmers earn rewards based on the proportion of their storage space to the total network space. The farming process involves plotting, where hard drives are filled with cryptographic proofs. These proofs are then used to create blocks, earning rewards for farmers with more storage space.
6 answers
Silvia
Fri Nov 29 2024
By doing so, they help to maintain the integrity and security of the Chia blockchain.
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Eleonora
Fri Nov 29 2024
Chia farming operates by utilizing storage space on an individual's hard drive.
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ZenBalanced
Fri Nov 29 2024
In addition to validating transactions, plot files also compete for block rewards.
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Sofia
Fri Nov 29 2024
This space is dedicated to storing plot files, which are essential for the Chia network.
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Stefano
Fri Nov 29 2024
Block rewards are earned by plot files that successfully solve complex mathematical problems.
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