Chia Network: An Open Source Decentralized Global Blockchain
Today, we will delve into the interesting DeFi Project (Decentralized Finance: Open Source Financial Ecosystem) known as Chia Network. In order to continue with our post yesterday about it.
Chia Network like many others already explored, it not only offers useful tools or services, but allows monetize the use of Operating Systems, making use of a multipurpose application or specially designed for it. That is, a mining software to mine (farm / harvest) a certain cryptocurrency (s) or a native or specific one of its platform. And in this case, the novelty is that it makes use mainly of Hard Drive Storage Space, instead of GPU, CPU or RAM.
Utopia: An interesting decentralized P2P ecosystem ideal for Linux
And since, we regularly address DeFi Projects or topics related to said IT domain, we will immediately leave below some of the most recent links on some of our previous related posts. So that those interested in exploring them after finishing this publication can easily do so:
"Utopia is basically an all-in-one kit for using secure instant messaging, encrypted email communication, anonymous payments, and private web browsing, according to its creators. What is also ideal to use on GNU / Linux Operating Systems, since it allows you to monetize its use with simply a good amount of RAM memory (4 GB) available and a fixed public IP address. Therefore, it constitutes a product to promote freedom, anonymity and the absence of censorship, which has been designed for secure communication, anonymous payments and a truly free and borderless internet use." Utopia: An interesting decentralized P2P ecosystem ideal for Linux
Chia Network: Digital Mining with Storage Space
What is Chia Network?
According to his Official website, Chia Network It is briefly described as follows:
"A better blockchain and smart transaction platform that is more decentralized, more efficient and more secure".
While later they detail the following:
"Chia Network is an open source decentralized global blockchain that is less wasteful, more decentralized, and more secure than traditional proof-of-work cryptocurrencies. It is inspired by and similar to the Bitcoin blockchain, but in Chia, the resource is not computing power, but disk space.
To achieve this, the “proofs of work” used in Bitcoin are replaced by “proofs of space”, whereby disk space becomes the main resource and the proofs of time to reach a decentralized “Nakamoto-style” consensus. ”That validates the transactions. The Chia Network is also a smart transaction platform company". About Chia Network
In case, if you want to delve a little more about the recent history of Chia Network you can explore our previous post on said DeFi Project:
What does this DeFi project seek to achieve and offer?
One of the great things about this project is that its Official website has excellent information in Spanish language. And in it, he tells us about his objectives the following:
"We are building the Chia Network to improve global payments and financial systems. Chia will be the first enterprise-grade digital money. Chia is using the first new blockchain consensus algorithm since Bitcoin. Called Proof of Space and Time, it was created by Bram Cohen, the greatest living network protocol engineer and inventor of BitTorrent. Chialisp is Chia's new intelligent transaction programming language that is powerful, easy to audit, and secure. Currently available smart referral transactions are: atomic swaps, authorized payees, recoverable wallets, multisig wallets, and limited-rate wallets".
A look at Chia Mining Software on Linux
To achieve this goal, you must download your mining software for GNU / Linux of its official Download section. And then install it as usual via a terminal or console, using your existing or preferred package manager.
In our practical case, we will download the installer in the compatible format for Debian / Ubuntu, since, we will use as usual the usual Respin Linux called Miracles GNU / Linux, which is based on MX Linux 19 (Debian 10), and that has been built following our «Guide to Snapshot MX Linux». And then we will explore all the features of said mining software.
For more information on how to install, configure and use Chia Network on GNU / Linux and other Operating Systems, you can start by exploring the following link. And see the next video.
Summary
In summary, Chia Network is another of many DeFi Projects that offer interesting technological and financial / commercial benefits, and in the specific case of Linuxers and GNU / Linux Distros offers the benefit of generating profit in the world of Cryptocurrenciesthrough Digital Mining thereof.
We hope that this publication will be very useful for the entire «Comunidad de Software Libre y Código Abierto» and of great contribution to the improvement, growth and diffusion of the ecosystem of applications available for «GNU/Linux». And do not stop sharing it with others, on your favorite websites, channels, groups or communities of social networks or messaging systems. Finally, visit our home page at «DesdeLinux» to explore more news, and join our official channel Telegram from DesdeLinux.