Chia Network Inc, an energy-efficient blockchain network aiming to overcome the drawbacks of traditional cryptocurrency platforms such as Bitcoin and Ethereum has announced its native digital currency chia today.
The company expects chia will be adopted by governments and financial institutions globally, and today’s announcement comes after Chia Network released the mainnet for its public blockchain in mid-May.
This will occur in the case that the company does not file a registration statement within two years and if it does not become a publicly-traded company within a year of filing the statement.
Its strategic reserve will consist of 21 million chia .
The launch of an alternative cryptocurrency has resulted in companies starting to introduce products designed specifically for chia farming.
The bulk of demand for SSDs to farm chia is in China as the country’s digital platforms started to report enterprise-grade disk shortages early last month.